Cheap Apartments for Rent in Richmond, VA from $400 (431 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in Richmond.

Showing Results 1-50, Page 1 of 9

Richmond, VA Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Richmond, VA

Pricing Updated: 04/16/2025

Current apartment rentals in the Richmond, VA area range in price from $642 to $11,404 with an overall median price of $3,249. The three Richmond neighborhoods with the lowest median rent pricing are British Camp Farms at $825, Cofer at $702, and Fawnbrook at $715. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Richmond Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
British Camp Farms$1,263$82545
Cofer$1,450$702155
Fawnbrook$1,450$7159
Broad Rock Industrial Park$1,512$71532
Brookhaven Farms$1,535$94230
Belt Center$1,575$715129
Woodhaven$1,579$715149
Petersburg Chesterfield$1,582$64233
Petersburg Colonial Heights$1,635$79971
Monument Avenue Park$1,795$1,7951

Cheapest Available Richmond Apartments for Rent

 

The cheapest available apartment rental in Richmond, VA is a 1 Bed unit found at New Manchester Flats in the East neighborhood priced from $702. Kingly Ones and Briarwood Court Apartments in the Broad Rock neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $825. Here is today’s list of the most affordable Richmond apartments for rent:

Apartment ListingModel NameBed/BathPriced From
New Manchester FlatsThe Decatur1BR,1BA$702
Kingly Ones and Briarwood Court Apartments1 Bedroom1BR,1BA$825
Legacy at Imperial VillageStudioStudio,1BA$835
Manchester Grand ApartmentsA2111BR,1BA$855
The Arbors Senior ApartmentsMove-in Special Now offering Reduced Rent - ...1BR,1BA$899
Bloom Apartments II1Bed/1Bath: 463 sq ft1BR,1BA$899
Cedarwood Manor1BR/1BA1BR,1BA$922
2001 EastA31BR,1BA$925
Park at Forest HillByrd Classic1BR,1BA$935

Best Value Apartments for Rent in Richmond, VA

As of April 16, 2025 the best value apartment in the Richmond area is the $0.51 price per square foot 4x2 - Priced Per Bedroom Model at Marshall Park in the in the Downtown Richmond neighborhood starting from $756. The second greatest value Richmond apartment is the 2X1.5 Model at The Arbors at Hull Street Senior Apartments starting at $1,429 with a $1.21 price per square foot in the Midlothian neighborhood. Here is today’s list of the best values for Richmond apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Marshall Park4x2 - Priced Per Bedroom4BR,2BA$0.51
The Arbors at Hull Street Senior Apartments2X1.52BR,1.5BA$1.21
Townhouses of Chesterfield IIWood II2BR,1.5BA$1.08
Townhouses Of ChesterfieldPine2BR,1.5BA$1.15
City View Place2 Bedroom Unit2BR,1.5BA$1.14
4306 Chamberlayne Ave1 Beds, 1 Baths1BR,1BA$1.23
Carriage Club ApartmentsHighland1BR,1BA$1.26
Belle SummitRainer2BR,2BA$1.21
Creekside Manor Apartments2 Beds, 1.5 baths2BR,1.5BA$1.21
1527 Mechanicsville Tpke, Unit 31527 Mechanicsville Tpke1BR,1BA$1.17

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

Richmond Overview

The state capitol of Virginia, Richmond is a city boasting a long and proud history dating all the way back to the 1700's. From its bluecollar roots to the city's welcoming combination of cultural heritage and big city excitement, Richmond is one municipality well worth exploring and Richmond apartments make the perfect place to call home..

Why live in Richmond, VA?

With a keen sense of history and the local landmarks to back it up, Richmond is a fine place to call home for many reasons. The universities are highly lauded, the economy is showing steady local growth in both the housing market as well as the local industry, and the stately, architectural beauty is an even match for the area's natural splendor.

Pet Friendly Lifestyle
Richmond, VA

Ranked #6

Among cities in Virginia for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

decorative image of woman handing cat to small boy

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Richmond, VA Rentals by Map

Decorative image of map

See the most popular apartments and homes in Richmond, VA

View MapRichmond, VA Apartments MapView MapRichmond, VA Rental Homes Map

Getting Around Richmond, VA

Walk Score®

59 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

53 / 100

Bikeable

Some bike infrastructure

Transit Score®

26 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Richmond, VA Area Reviews

  • Cost of Living

Robin

February 25, 2025

All my life

Frequently Asked Questions about Cheap Richmond Apartments

What is a cheap apartment in Richmond?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Richmond is under $935.

What is the price of a cheap apartment in Richmond?

The cheapest apartment in Richmond is New Manchester Flats which is listed at $702, while the average apartment in Richmond costs $3,249.

What types of apartments are the cheapest in Richmond?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 14,989 regular apartments in Richmond that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Richmond?

Cheap apartments in Richmond have an average cost of $524 which is $2,725 cheaper than the average rent for all rentals in Richmond.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

decorative image for Know Your Rights - How Discrimination Laws Impact Landlords & Tenants article

Know Your Rights - How Discrimination Laws Impact Landlords & Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.