Cheap Apartments for Rent in the Downtown Richmond Neighborhood of Richmond, VA from $500 (179 Rentals)

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

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Downtown Richmond, Richmond, VA Local Guide

Cheapest Available Downtown Richmond Apartments for Rent

 

The cheapest available apartment rental in the Downtown Richmond area of Richmond, VA is a 1 Bed unit found at Bloom Apartments II priced from $899. Towers on Franklin has the second lowest priced unit, which is a Studio apartment currently listed from $949. Here are the most affordable Downtown Richmond apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
Bloom Apartments II1Bed/1Bath: 463 sq ft1BR,1BA$899
Towers on FranklinRodneyStudio,1BA$949
Eagle Mill Lofts2bed 1bth2BR,1BA$950
Charming apartment in the heart of Richmond!1BR/1.0BA1BR,1BA$995
The Edison ApartmentsSXDStudio,1BA$1,019
District Square ApartmentsStudio-426Studio,1BA$1,039
The BerkshireLinden1BR,1BA$1,080
Residences at the John MarshallStudioStudio,1BA$1,085
1407 E Cary Street1 Beds, 1 Baths1BR,1BA$1,099
Parc View at CommonwealthD5 - Penthouse4BR,4BA$1,145

Best Value Apartments for Rent in Downtown Richmond, VA

As of March 29, 2025 the best value apartment in the Downtown 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 Downtown Richmond apartment is the 2BR/2.0BA Model at Park Plaza @ Belvidere starting at $1,775 with a $1.27 price per square foot in the Downtown Richmond neighborhood. Here is today’s list of the best values for Downtown Richmond apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Marshall Park4x2 - Priced Per Bedroom4BR,2BA$0.51
Park Plaza @ Belvidere2BR/2.0BA2BR,2BA$1.27
Raven PlaceB1.12BR,2BA$1.47
Broadway ApartmentsTwo Bed One Bath2BR,1BA$1.56
1 West Cary Apartments1BR/1.0BA1BR,1BA$1.56
Renovated 2 Bedroom Apartment in Northside!2BR/1.0BA2BR,1BA$1.47
The Shockoe Collection1 Bed 1 Bath1BR,1BA$1.54
Charming apartment in the heart of Richmond!1BR/1.0BA1BR,1BA$1.25
1407 E Cary Street1 Beds, 1 Baths1BR,1BA$1.47
The BerkshireLinden1BR,1BA$1.56

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Pet Friendly Lifestyle
Downtown Richmond, Richmond, VA

Ranked #11

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

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, cities, and rental properties across Virginia, including Richmond. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, transit availability, pet-friendly communities, apartment communities for the kids, and other valuable search options. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Richmond Apartments

What is a cheap apartment in Downtown Richmond?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Richmond is under $1,145.

What is the price of a cheap apartment in Downtown Richmond?

The cheapest apartment in Downtown Richmond is Bloom Apartments II which is listed at $899, while the average apartment in Downtown Richmond costs $3,500.

What types of apartments are the cheapest in Downtown 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 194 regular apartments in Downtown 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 Downtown Richmond?

Cheap apartments in Downtown Richmond have an average cost of $414 which is $3,086 cheaper than the average rent for all rentals in Downtown 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.

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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.

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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.

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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.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.