Cheap Homes for Rent in Richmond, VA from $700 (60 Rentals)

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property at 9999 Diane Ln

9999 Diane Ln

RichmondVA23227
property at 206 E 37th St

206 E 37th St

RichmondVA23224

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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Richmond’s Best Affordable Neighborhoods

Learn about Richmond and the best affordable places to live by our Local Expert Richard Corrigan

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property at 14 W Broad St

14 W Broad St

RichmondVA23220

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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property at 815 Porter St

815 Porter St

RichmondVA23224

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Richmond, VA Local Guide

Cheapest Neighborhoods for Apartments in Richmond, VA

Pricing Updated: 05/10/2025

Current apartment rentals in the Richmond, VA area range in price from $629 to $12,315 with an overall median price of $2,879. The three Richmond neighborhoods with the lowest median rent pricing are British Camp Farms at $825, Brookhaven Farms at $962, 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$1,339$82543
Brookhaven Farms$1,339$96232
Fawnbrook$1,450$7159
Belt Center$1,555$629136
Broad Rock Industrial Park$1,555$71523
Cofer$1,555$629151
Woodhaven$1,575$629153
Petersburg Chesterfield$1,584$81526
Petersburg Colonial Heights$1,657$74360
Southwood$1,674$629205

Cheapest Available Richmond Apartments for Rent

 

The cheapest available apartment rental in Richmond, VA is a 1 Bed unit found at Ashton Square Apartments in the Midlothian neighborhood priced from $629. 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
Ashton Square ApartmentsAshley1BR,1BA$629
Kingly Ones and Briarwood Court Apartments1 Bedroom1BR,1BA$825
Legacy at Imperial VillageStudioStudio,1BA$835
New Manchester FlatsThe Maury2BR,2BA$837
Bloom Apartments II1Bed/1Bath: 463 sq ft1BR,1BA$849
Towers on FranklinHarrisonStudio,1BA$850
Manchester Grand ApartmentsA2111BR,1BA$855
Falling Creek ApartmentsA11BR,1BA$885
The Arbors Senior ApartmentsMove-in Special Now offering Reduced Rent - ...1BR,1BA$899

Best Value Apartments for Rent in Richmond, VA

As of May 10, 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 $750. The second greatest value Richmond 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 Richmond 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
Townhouses of Chesterfield IIWood II2BR,1.5BA$1.08
Venus At Manchester Apartments2 -Bedroom, 2-Bath2BR,2BA$1.20
1407 E Cary Street1 Beds, 1 Baths1BR,1BA$1.11
City View Place2 Bedroom Unit2BR,1.5BA$1.14
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

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Richmond, VA Area Reviews

  • Cost of Living

Robin

February 25, 2025

All my life

Frequently Asked Questions about Richmond

What type of rentals are currently available in Richmond?

There are currently 1491 Apartments for Rent in Richmond, VA with pricing that ranges from $629 to $15,913. There are also 433 Single Family Homes for rent, Condos, and Townhome rentals currently available in Richmond ranging from $750 to $5,950.

What is the current price range for Rental Homes in Richmond?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Richmond ranges from $750 to $5,950 with an average monthly rent of $2,108.

How much are larger Three and Four Bedroom Rentals in Richmond?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Richmond range from $879 to $12,315, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,395 to $3,800. Four Bedroom Single-Family rentals are also available starting from $1,613 and Four Bedroom Apartments start at $750.

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.

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

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.