Most Affordable Neighborhoods in Richmond, VA
Some of the cheapest neighborhoods in Richmond are Elkhardt, Worthington, and Fairmount. These neighborhoods offer some of the lowest rent prices in Richmond, making them ideal for renters on a budget. As of July 29, 2025, the average rent in Richmond is $1,417, which is 2.4% 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.
Elkhardt
Average Rent
$1,098/Month
Year-Over-Year Rent Change
2.7%
TransitScore® Rating
26/100
Units Available
33 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Elkhardt might be the perfect place! It has an average rent price of $1,098, while the city’s average stands at $1,417. In the last year, prices have increased by 2.7%. Elkhardt is near Richmond International, Reynolds C.C., Downtown, and Haynes Plaza.
Worthington
Average Rent
$1,137/Month
TransitScore® Rating
31/100
Units Available
24 Rentals
Worthington is a top choice for budget-conscious renters for a variety of reasons. The average rent in Worthington is $1,137 while the city average is $1,417. Residents enjoy convenient access to Maymont House & Park, University of Richmond, and Richmond International. The neighborhood is considered car-dependent with a WalkScore® of 21.
Fairmount
Average Rent
$1,141/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
43/100
Units Available
14 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Fairmount. The average rent is $1,141, compared to the city average of $1,417. Rent prices have increased by 0.8%. Fairmount is convenient to Richmond International, Northeast Plaza, and Reynolds C.C., Parham Road. The community is walkable with a WalkScore® of 72.
Woodville
Average Rent
$1,159/Month
TransitScore® Rating
39/100
Units Available
14 Rentals
Woodville is an affordable neighborhood in Richmond with an average rent price of $1,159. Compare this to the city average of $1,417. Woodville provides easy access to Chimborazo Park, Eastlawn Shopping Center, and Reynolds C.C., Downtown. It’s a somewhat walkable neighborhood with a WalkScore® of 67.
Mosby
Average Rent
$1,177/Month
TransitScore® Rating
43/100
Units Available
18 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Mosby might be the perfect place! It has an average rent price of $1,177, while the city’s average stands at $1,417. Mosby is near Reynolds C.C., Downtown, Chimborazo Park, and VCU.
Forest Hill Terrace
Average Rent
$1,182/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
36/100
Units Available
11 Rentals
Forest Hill Terrace is a top choice for budget-conscious renters for a variety of reasons. The average rent in Forest Hill Terrace is $1,182 while the city average is $1,417. This is a 0.8% difference from last year. Residents enjoy convenient access to Westover Place, Circle Shopping Center, and Monroe Park. The neighborhood is considered walkable with a WalkScore® of 73.
Church Hill North
Average Rent
$1,214/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
42/100
Units Available
16 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Church Hill North. The average rent is $1,214, compared to the city average of $1,417. Rent prices have increased by 0.9%. Church Hill North is convenient to Virginia Union University, Chimborazo Park, and University of Richmond. The community is walkable with a WalkScore® of 73.
Bonnie Brae
Average Rent
$1,240/Month
TransitScore® Rating
0/100
Units Available
12 Rentals
Bonnie Brae is an affordable neighborhood in Richmond with an average rent price of $1,240. Compare this to the city average of $1,417. Bonnie Brae provides easy access to Virginia Union University, Three Lakes Park & Nature Center, and University of Richmond. It’s a somewhat walkable neighborhood with a WalkScore® of 52.
Fox Rest
Average Rent
$1,254/Month
TransitScore® Rating
0/100
Units Available
21 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Fox Rest might be the perfect place! It has an average rent price of $1,254, while the city’s average stands at $1,417. Fox Rest is near Virginia Union University, University of Richmond, and Richmond International.
Wistar Village
Average Rent
$1,261/Month
TransitScore® Rating
0/100
Units Available
15 Rentals
Wistar Village is a top choice for budget-conscious renters for a variety of reasons. The average rent in Wistar Village is $1,261 while the city average is $1,417. Residents enjoy convenient access to Children's Museum of Richmond, Bryan Park and Nature Center, and Wistar Center. The neighborhood is considered car-dependent with a WalkScore® of 27.
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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.