Best Affordable Neighborhoods in Richmond, VA
Some of the cheapest neighborhoods in Richmond are Bensley Village, Elkhardt, and Mosby. These neighborhoods offer some of the lowest rent prices in Richmond, making them ideal for renters on a budget. As of November 7, 2025, the average rent in Richmond is $1,401, which is 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.
Bensley Village
Average Rent
$990/Month
TransitScore® Rating
0/100
Units Available
11 Rentals
Bensley Village is a top choice for budget-conscious renters for a variety of reasons. The average rent in Bensley Village is $990 while the city average is $1,401. Residents enjoy convenient access to VCU, Food Lion Shopping Center, and Goyne Park. The neighborhood is considered car-dependent with a WalkScore® of 21.
Elkhardt
Average Rent
$1,003/Month
Year-Over-Year Rent Change
2.5%
TransitScore® Rating
26/100
Units Available
11 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Elkhardt. The average rent is $1,003, compared to the city average of $1,401. Rent prices have decreased by 2.5%. Elkhardt is convenient to Virginia Union University, VCU, and Richmond International. The community is car-dependent with a WalkScore® of 33.
Mosby
Average Rent
$1,109/Month
TransitScore® Rating
43/100
Units Available
14 Rentals
Mosby is an affordable neighborhood in Richmond with an average rent price of $1,109. Compare this to the city average of $1,401. Mosby provides easy access to Monroe Park, Eastlawn Shopping Center, and Richmond International. It’s a somewhat walkable neighborhood with a WalkScore® of 54.
Fairmount
Average Rent
$1,159/Month
Year-Over-Year Rent Change
3.2%
TransitScore® Rating
43/100
Units Available
13 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 $1,159, while the city’s average stands at $1,401. In the last year, prices have increased by 3.2%. Fairmount is near Northeast Plaza, VCU, and Chimborazo Park.
Ginter Park
Average Rent
$1,190/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
41/100
Units Available
18 Rentals
Ginter Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Ginter Park is $1,190 while the city average is $1,401. This is a 0.1% difference from last year. Residents enjoy convenient access to Virginia Union University, Bryan Park and Nature Center, and VCU. The neighborhood is considered car-dependent with a WalkScore® of 49.
Rosedale
Average Rent
$1,196/Month
TransitScore® Rating
34/100
Units Available
14 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Rosedale. The average rent is $1,196, compared to the city average of $1,401. Rosedale is convenient to Monroe Park, Children's Museum of Richmond, and Reynolds C.C., Downtown. The community is somewhat walkable with a WalkScore® of 54.
Hermitage Road
Average Rent
$1,196/Month
TransitScore® Rating
33/100
Units Available
14 Rentals
Hermitage Road is an affordable neighborhood in Richmond with an average rent price of $1,196. Compare this to the city average of $1,401. Hermitage Road provides easy access to Franco's Galleries, Reynolds C.C., Downtown, and Richmond International. It’s a somewhat walkable neighborhood with a WalkScore® of 52.
Imperial Plaza
Average Rent
$1,196/Month
TransitScore® Rating
31/100
Units Available
14 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Imperial Plaza might be the perfect place! It has an average rent price of $1,196, while the city’s average stands at $1,401. Imperial Plaza is near VCU, Richmond International, and Reynolds C.C., Parham Road.
Cedarhurst
Average Rent
$1,198/Month
Year-Over-Year Rent Change
11.2%
TransitScore® Rating
30/100
Units Available
15 Rentals
Cedarhurst is a top choice for budget-conscious renters for a variety of reasons. The average rent in Cedarhurst is $1,198 while the city average is $1,401. This is a -11.2% difference from last year. Residents enjoy convenient access to Maymont House & Park, Virginia Union University, and Reynolds C.C., Downtown. The neighborhood is considered car-dependent with a WalkScore® of 44.
Southern Barton Heights
Average Rent
$1,203/Month
Year-Over-Year Rent Change
2.9%
TransitScore® Rating
46/100
Units Available
10 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Southern Barton Heights. The average rent is $1,203, compared to the city average of $1,401. Rent prices have increased by 2.9%. Southern Barton Heights is convenient to The Shops at Cary & Lombardy, Reynolds C.C., Parham Road, and Monroe Park. The community is somewhat walkable with a WalkScore® of 60.
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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.