Most Affordable Neighborhoods in Richmond, VA
Some of the cheapest neighborhoods in Richmond are Chimney Corner, Bensley Townhomes, and Bensley Village. These neighborhoods offer some of the lowest rent prices in Richmond, making them ideal for renters on a budget. As of September 12, 2025, the average rent in Richmond is $1,414, which is 1.7% 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.
Chimney Corner
Average Rent
$949/Month
TransitScore® Rating
0/100
Units Available
15 Rentals
Chimney Corner is a top choice for budget-conscious renters for a variety of reasons. The average rent in Chimney Corner is $949 while the city average is $1,414. Residents enjoy convenient access to Bensley Park, Food Lion Shopping Center, and The Commons at Winchester Greens. The neighborhood is considered car-dependent with a WalkScore® of 22.
Bensley Townhomes
Average Rent
$988/Month
TransitScore® Rating
0/100
Units Available
12 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Bensley Townhomes. The average rent is $988, compared to the city average of $1,414. Bensley Townhomes is convenient to Richmond National Battlefield Park, Virginia Union University, and Meadowdale Plaza. The community is car-dependent with a WalkScore® of 24.
Bensley Village
Average Rent
$989/Month
TransitScore® Rating
0/100
Units Available
13 Rentals
Bensley Village is an affordable neighborhood in Richmond with an average rent price of $989. Compare this to the city average of $1,414. Bensley Village provides easy access to John Tyler C.C., Chester, Richmond International, and Forest Hill Park. It’s a car-dependent neighborhood with a WalkScore® of 21.
Elkhardt
Average Rent
$1,010/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
26/100
Units Available
23 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 $1,010, while the city’s average stands at $1,414. In the last year, prices have increased by 1.2%. Elkhardt is near Richmond International, Byrd Park, and Virginia Union University.
Worthington
Average Rent
$1,015/Month
TransitScore® Rating
31/100
Units Available
17 Rentals
Worthington is a top choice for budget-conscious renters for a variety of reasons. The average rent in Worthington is $1,015 while the city average is $1,414. Residents enjoy convenient access to Haynes Plaza, Stonebridge Marketplace, and Forest Hill Park. The neighborhood is considered car-dependent with a WalkScore® of 21.
Reedy Creek
Average Rent
$1,097/Month
Year-Over-Year Rent Change
2.8%
TransitScore® Rating
42/100
Units Available
11 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Reedy Creek. The average rent is $1,097, compared to the city average of $1,414. Rent prices have increased by 2.8%. Reedy Creek is convenient to Richmond International, University of Richmond, and Maymont House & Park. The community is somewhat walkable with a WalkScore® of 56.
Fairmount
Average Rent
$1,151/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
43/100
Units Available
13 Rentals
Fairmount is an affordable neighborhood in Richmond with an average rent price of $1,151. Compare this to the city average of $1,414. In the past year, rent prices have increased by 3%. Fairmount provides easy access to Science Museum of Virginia, Wilton Square at Tobacco Row, and Maggie L Walker National Historic Site. It’s a walkable neighborhood with a WalkScore® of 72.
Mosby
Average Rent
$1,177/Month
TransitScore® Rating
43/100
Units Available
12 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 $1,414. Mosby is near University of Richmond, VCU, and Virginia Union University.
Rosedale
Average Rent
$1,203/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 $1,203 while the city average is $1,414. Residents enjoy convenient access to Science Museum of Virginia, Monroe Park, and Scott's Walk. The neighborhood is considered somewhat walkable with a WalkScore® of 54.
Hermitage Road
Average Rent
$1,203/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 $1,203, compared to the city average of $1,414. Hermitage Road is convenient to Franco's Galleries, Lewis Ginter Botanical Garden, and Bryan Park and Nature Center. The community is somewhat walkable with a WalkScore® of 52.
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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.