Best Affordable Neighborhoods in Richmond, VA
Some of the cheapest neighborhoods in Richmond are Bensley Village, Fairmount, and Cedarhurst. These neighborhoods offer some of the lowest rent prices in Richmond, making them ideal for renters on a budget. As of December 24, 2025, the average rent in Richmond is $1,399, which is 0.9% 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.
Bensley Village
Average Rent
$1,002/Month
TransitScore® Rating
0/100
Units Available
10 Rentals
Bensley Village is a top choice for budget-conscious renters for a variety of reasons. The average rent in Bensley Village is $1,002 while the city average is $1,399. Residents enjoy convenient access to Virginia Union University, Bensley Park, and Richmond National Battlefield Park. The neighborhood is considered car-dependent with a WalkScore® of 21.
Fairmount
Average Rent
$1,166/Month
Year-Over-Year Rent Change
3.2%
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 $1,166, compared to the city average of $1,399. Rent prices have increased by 3.2%. Fairmount is convenient to Richmond Canal, Richmond International, and VCU. The community is walkable with a WalkScore® of 72.
Cedarhurst
Average Rent
$1,187/Month
Year-Over-Year Rent Change
13.7%
TransitScore® Rating
30/100
Units Available
14 Rentals
Cedarhurst is an affordable neighborhood in Richmond with an average rent price of $1,187. Compare this to the city average of $1,399. In the past year, rent prices have decreased by 13.7%. Cedarhurst provides easy access to Richmond International, Children's Museum of Richmond, and VCU. It’s a car-dependent neighborhood with a WalkScore® of 44.
Westover Farms
Average Rent
$1,193/Month
Units Available
13 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Westover Farms might be the perfect place! It has an average rent price of $1,193, while the city’s average stands at $1,399. Westover Farms is near Byrd Park, Reynolds C.C., Downtown, and VCU.
Rosedale
Average Rent
$1,196/Month
TransitScore® Rating
34/100
Units Available
14 Rentals
Rosedale is a top choice for budget-conscious renters for a variety of reasons. The average rent in Rosedale is $1,196 while the city average is $1,399. Residents enjoy convenient access to Children's Museum of Richmond, VCU, and Science Museum of Virginia. The neighborhood is considered somewhat walkable with a WalkScore® of 54.
Hermitage Road
Average Rent
$1,196/Month
TransitScore® Rating
33/100
Units Available
14 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Hermitage Road. The average rent is $1,196, compared to the city average of $1,399. Hermitage Road is convenient to The Shoppes at Lakeside North, The Shoppes at Lakeside South, and Reynolds C.C., Parham Road. The community is somewhat walkable with a WalkScore® of 52.
Imperial Plaza
Average Rent
$1,196/Month
TransitScore® Rating
31/100
Units Available
14 Rentals
Imperial Plaza is an affordable neighborhood in Richmond with an average rent price of $1,196. Compare this to the city average of $1,399. Imperial Plaza provides easy access to Reynolds C.C., Downtown, VCU, and Reynolds C.C., Parham Road. It’s a car-dependent neighborhood with a WalkScore® of 37.
Southern Barton Heights
Average Rent
$1,216/Month
Year-Over-Year Rent Change
2.9%
TransitScore® Rating
46/100
Units Available
10 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Southern Barton Heights might be the perfect place! It has an average rent price of $1,216, while the city’s average stands at $1,399. In the last year, prices have increased by 2.9%. Southern Barton Heights is near Richmond International, Children's Museum of Richmond, and Reynolds C.C., Parham Road.
Townes at River South
Average Rent
$1,228/Month
TransitScore® Rating
45/100
Units Available
55 Rentals
Townes at River South is a top choice for budget-conscious renters for a variety of reasons. The average rent in Townes at River South is $1,228 while the city average is $1,399. Residents enjoy convenient access to James River Parks, Richmond Canal, and Forest Hill Park. The neighborhood is considered walkable with a WalkScore® of 73.
Meadowdale
Average Rent
$1,234/Month
Units Available
10 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Meadowdale. The average rent is $1,234, compared to the city average of $1,399. Meadowdale is convenient to Goyne Park, Richmond International, and Virginia Union University.
Ready to make your move to Richmond? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.