Best 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 February 9, 2026, the average rent in Richmond is $1,407, which is 0.4% lower 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
$1,050/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
26/100
Units Available
23 Rentals
Elkhardt is an affordable neighborhood in Richmond with an average rent price of $1,050. Compare this to the city average of $1,407. In the past year, rent prices have increased by 0.8%. Elkhardt provides easy access to Byrd Park, Goodes Bridge Square, and Forest Hill Park. It’s a car-dependent neighborhood with a WalkScore® of 33.
Worthington
Average Rent
$1,074/Month
TransitScore® Rating
31/100
Units Available
16 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Worthington might be the perfect place! It has an average rent price of $1,074, while the city’s average stands at $1,407. Worthington is near James River Parks, Richmond International, and Reynolds C.C., Downtown.
Fairmount
Average Rent
$1,159/Month
Year-Over-Year Rent Change
3.4%
TransitScore® Rating
43/100
Units Available
13 Rentals
Fairmount is a top choice for budget-conscious renters for a variety of reasons. The average rent in Fairmount is $1,159 while the city average is $1,407. This is a 3.4% difference from last year. Residents enjoy convenient access to Richmond International, Reynolds C.C., Parham Road, and Wilton Square at Tobacco Row. The neighborhood is considered walkable with a WalkScore® of 72.
Cedarhurst
Average Rent
$1,187/Month
Year-Over-Year Rent Change
20.6%
TransitScore® Rating
30/100
Units Available
12 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Cedarhurst. The average rent is $1,187, compared to the city average of $1,407. Rent prices have decreased by 20.6%. Cedarhurst is convenient to Jahnke Convenience Center, Forest Hill Park, and Westover Place. The community is car-dependent with a WalkScore® of 44.
Westover Farms
Average Rent
$1,195/Month
Units Available
11 Rentals
Westover Farms is an affordable neighborhood in Richmond with an average rent price of $1,195. Compare this to the city average of $1,407. Westover Farms provides easy access to Parkway Shopping Center, VCU, and Westover Place.
Rosedale
Average Rent
$1,197/Month
TransitScore® Rating
34/100
Units Available
12 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Rosedale might be the perfect place! It has an average rent price of $1,197, while the city’s average stands at $1,407. Rosedale is near Virginia Union University, Reynolds C.C., Parham Road, and VCU.
Hermitage Road
Average Rent
$1,197/Month
TransitScore® Rating
33/100
Units Available
12 Rentals
Hermitage Road is a top choice for budget-conscious renters for a variety of reasons. The average rent in Hermitage Road is $1,197 while the city average is $1,407. Residents enjoy convenient access to Three Lakes Park & Nature Center, Virginia Union University, and Science Museum of Virginia. The neighborhood is considered somewhat walkable with a WalkScore® of 52.
Imperial Plaza
Average Rent
$1,197/Month
TransitScore® Rating
31/100
Units Available
12 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Imperial Plaza. The average rent is $1,197, compared to the city average of $1,407. Imperial Plaza is convenient to Franco's Galleries, Lewis Ginter Botanical Garden, and VCU. The community is car-dependent with a WalkScore® of 37.
Brookbury
Average Rent
$1,208/Month
TransitScore® Rating
22/100
Units Available
15 Rentals
Brookbury is an affordable neighborhood in Richmond with an average rent price of $1,208. Compare this to the city average of $1,407. Brookbury provides easy access to Forest Hill Park, Belmont Crossing, and Bensley Park. It’s a car-dependent neighborhood with a WalkScore® of 23.
Piney Knolls
Average Rent
$1,217/Month
TransitScore® Rating
23/100
Units Available
21 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Piney Knolls might be the perfect place! It has an average rent price of $1,217, while the city’s average stands at $1,407. Piney Knolls is near Byrd Park, Richmond International, and Haynes Plaza.
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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.