Cheap Apartments for Rent in the Capitol District Richmond, VA from $500 (145 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Capitol District area of Richmond.

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Capitol District, Richmond, VA Local Guide

Cheapest Available Capitol District Apartments for Rent

 

The cheapest available apartment rental in the Capitol District area of Richmond, VA is a 2 Beds unit found at New Manchester Flats priced from $837. Towers on Franklin has the second lowest priced unit, which is a Studio apartment currently listed from $850. Here are the most affordable Capitol District apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
New Manchester FlatsThe Maury2BR,2BA$837
Towers on FranklinHarrisonStudio,1BA$850
Manchester Grand ApartmentsA2111BR,1BA$855
Eagle Mill Lofts2bed 1bth2BR,1BA$950
Dogtown Apartments1 Bedroom Standard1BR,1BA$999
Miller Lofts @ Plant Zero1 Bedroom 1 Bath1BR,1BA$999
Townsend SquareTownhomes starting at $1000.00- Now Accepting A...2BR,1BA$1,000
Jefferson Townhouses1X11BR,1BA$1,000
Belle SummitRainer2BR,2BA$1,020

Best Value Apartments for Rent in Capitol District, VA

As of May 12, 2025 the best value apartment in the Capitol District 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 $750. The second greatest value Capitol District apartment is the Canal 236 1 Bed Model at Lofts and Upper Lofts at Canal Walk starting at $1,252 with a $0.96 price per square foot in the Downtown Richmond neighborhood. Here is today’s list of the best values for Capitol District apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Marshall Park4x2 - Priced Per Bedroom4BR,2BA$0.51
Lofts and Upper Lofts at Canal WalkCanal 236 1 Bed1BR,1BA$0.96
Townsend SquareTownhomes starting at $1000.00- Now Accepting A...2BR,1BA$0.87
Venus At Manchester Apartments2 -Bedroom, 2-Bath2BR,2BA$1.20
The HudsonThe Everett2BR,1BA$1.29
Lofts and Upper Lofts at Canal Walk IIIOne Bedroom1BR,1BA$1.23
1407 E Cary Street1 Beds, 1 Baths1BR,1BA$1.11
City View Place2 Bedroom Unit2BR,1.5BA$1.14
Belle SummitRainer2BR,2BA$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.

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Pet Friendly Lifestyle
Capitol District, Richmond, VA

Ranked #3

Among neighborhoods in Richmond, VA for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

This website works hard to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for Central Richmond. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including searching for the best amenities, and proximity to parks, transit availability, pet-friendly communities, features that make it easier to raise kids, and much more. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the Capitol District Neighborhood in Richmond, VA

Walk Score®

90 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

77 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

64 / 100

Good Transit

Many 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.

Frequently Asked Questions about Cheap Capitol District Apartments

What is a cheap apartment in Capitol District?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Capitol District is under $1,020.

What is the price of a cheap apartment in Capitol District?

The cheapest apartment in Capitol District is New Manchester Flats which is listed at $979, while the average apartment in Capitol District costs $2,295.

What types of apartments are the cheapest in Capitol District?

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 249 regular apartments in Capitol District 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 Capitol District?

Cheap apartments in Capitol District have an average cost of $494 which is $1,801 cheaper than the average rent for all rentals in Capitol District.

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 A Local Experts Guide To the Top Budget-Friendly Neighborhoods to Rent in Richmond, VA article

A Local Experts Guide To the Top Budget-Friendly Neighborhoods to Rent in Richmond, VA

Written by: Richard Corrigan

Richmond is rightly considered one of the best places to live on the East Coast. We love Richmond’s rich history, phenomenal culinary scene, unique art and culture, and its next-level parks and green spaces.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.