Best Affordable Neighborhoods in Richmond, VA
Some of the cheapest neighborhoods in Richmond are Blackwell, Elkhardt, and Fairmount. These neighborhoods offer some of the lowest rent prices in Richmond, making them ideal for renters on a budget. As of May 11, 2026, the average rent in Richmond is $1,442, which is 1.1% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Blackwell
Average Rent
$1,036/Month
Year-Over-Year Rent Change
7.8%
Units Available
86 Rentals
Blackwell is a historic suburb of Richmond, perfect for budget-conscious renters. The area's tree-lined streets, easy access to I-95, and a slew of museums make it a top choice for residents.
Elkhardt
Average Rent
$1,074/Month
Year-Over-Year Rent Change
3.6%
Units Available
25 Rentals
Elkhardt is an affordable neighborhood in Richmond with an average rent price of $1,074. Compare this to the city average of $1,442. In the past year, rent prices have increased by 3.6%. Elkhardt provides easy access to Rockwood Park, James River Parks, and Goodes Bridge Square.
Fairmount
Average Rent
$1,120/Month
Year-Over-Year Rent Change
2.2%
Units Available
22 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Fairmount might be the perfect place! It has an average rent price of $1,120, while the city’s average stands at $1,442. In the last year, prices have increased by 2.2%. Fairmount is near Maggie L Walker National Historic Site, Reynolds C.C., Parham Road, and Chimborazo Park.
Worthington
Average Rent
$1,133/Month
Units Available
15 Rentals
Worthington is a top choice for budget-conscious renters for a variety of reasons. The average rent in Worthington is $1,133 while the city average is $1,442. Residents enjoy convenient access to Cloverleaf Shoppes, Richmond International, and Haynes Plaza.
Ginter Park
Average Rent
$1,139/Month
Year-Over-Year Rent Change
0.1%
Units Available
37 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Ginter Park. The average rent is $1,139, compared to the city average of $1,442. Rent prices have increased by 0.1%. Ginter Park is convenient to Laburnum Shopping Center, Virginia Union University, and Brookhill Azalea Shopping Center.
Cedarhurst
Average Rent
$1,159/Month
Year-Over-Year Rent Change
11.4%
Units Available
15 Rentals
Cedarhurst is an affordable neighborhood in Richmond with an average rent price of $1,159. Compare this to the city average of $1,442. In the past year, rent prices have decreased by 11.4%. Cedarhurst provides easy access to Reynolds C.C., Downtown, Maymont House & Park, and Stratford Hills Shop Ctr.
Brookbury
Average Rent
$1,193/Month
Units Available
12 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Brookbury might be the perfect place! It has an average rent price of $1,193, while the city’s average stands at $1,442. Brookbury is near Belmont Crossing, James River Parks, and Reynolds C.C., Downtown.
Rosedale
Average Rent
$1,197/Month
Units Available
12 Rentals
Rosedale is a top choice for budget-conscious renters for a variety of reasons. The average rent in Rosedale is $1,197 while the city average is $1,442. Residents enjoy convenient access to Lewis Ginter Botanical Garden, Richmond International, and Monroe Park.
Piney Knolls
Average Rent
$1,223/Month
Units Available
14 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Piney Knolls. The average rent is $1,223, compared to the city average of $1,442. Piney Knolls is convenient to James River Parks, Forest Hill Park, and Virginia Union University.
British Camp Farms
Average Rent
$1,225/Month
Units Available
12 Rentals
British Camp Farms is an affordable neighborhood in Richmond with an average rent price of $1,225. Compare this to the city average of $1,442. British Camp Farms provides easy access to Virginia Union University, Reynolds C.C., Downtown, and Richmond International.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.