Most Affordable Neighborhoods in Richmond, VA
Some of the cheapest neighborhoods in Richmond are Blackwell, The Fan, and Monroe Ward. These neighborhoods offer some of the lowest rent prices in Richmond, making them ideal for renters on a budget. As of April 29, 2025, the average rent in Richmond is $1,394, which is 0.5% 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.
Blackwell
Average Rent
$1,123/Month
Year-Over-Year Rent Change
17.2%
TransitScore® Rating
46/100
Units Available
115 Rentals
Blackwell is a historic suburb of Richmond, perfect for budget-conscious renters. The area's tree-lined streets, easy access to I-95, and a slew of museums make it a top choice for residents.
The Fan
Average Rent
$1,381/Month
Year-Over-Year Rent Change
1.7%
TransitScore® Rating
49/100
Units Available
103 Rentals
The Fan is an affordable neighborhood in Richmond with an average rent price of $1,381. Compare this to the city average of $1,394. In the past year, rent prices have decreased by 1.7%. The Fan provides easy access to Byrd Park, Children's Museum of Richmond, and Devil's Triangle. It’s a walkable neighborhood with a WalkScore® of 94.
Monroe Ward
Average Rent
$1,395/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
62/100
Units Available
215 Rentals
Monroe Ward in Richmond has readily available public transportation through the Greater Richmond Transit Company, making commuting straightforward for residents. Proximity to parks and shopping centers further enhances convenience and livability.
Capitol District
Average Rent
$1,438/Month
Year-Over-Year Rent Change
5.3%
TransitScore® Rating
64/100
Units Available
162 Rentals
If you’re looking for a great, affordable neighborhood in Richmond, Capitol District might be the perfect place! It has an average rent price of $1,438, while the city’s average stands at $1,394. In the last year, prices have decreased by 5.3%. Capitol District is near Wilton Square at Tobacco Row, Gate Street Plaza, and Richmond International.
Upper Shockoe Valley
Average Rent
$1,448/Month
Year-Over-Year Rent Change
2.4%
TransitScore® Rating
59/100
Units Available
346 Rentals
Upper Shockoe Valley is one of Richmond, Virginia's oldest neighborhoods but remains a favorite spot for residents. The area is close to Downtown Richmond and is within walking distance of city attractions like the Richmond Coliseum and the Dominion Arts Center. 18th Street offers a variety of shops and restaurants.
East End
Average Rent
$1,469/Month
Year-Over-Year Rent Change
0.7%
TransitScore® Rating
49/100
Units Available
766 Rentals
East End offers a range of cheap apartments for those seeking budget-friendly living. The neighborhood is home to several parks and recreational areas, perfect for active lifestyles.
Shockoe Bottom
Average Rent
$1,477/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
55/100
Units Available
583 Rentals
Shockoe Bottom is a historic neighborhood just east of downtown Richmond. Modern lofts, renovated apartments, and historic single-family homes border the James River. Convenient shopping and dining options nearby enhance the living experience.
Manchester
Average Rent
$1,502/Month
Year-Over-Year Rent Change
0.2%
TransitScore® Rating
48/100
Units Available
549 Rentals
Manchester is a top choice for budget-conscious renters for a variety of reasons. The average rent in Manchester is $1,502 while the city average is $1,394. This is a 0.2% difference from last year. Residents enjoy convenient access to Monroe Park, Reynolds C.C., Downtown, and Wilton Square at Tobacco Row. The neighborhood is considered walkable with a WalkScore® of 72.
Old Town Manchester
Average Rent
$1,515/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
45/100
Units Available
1,092 Rentals
Old Town Manchester is just across the river from Downtown Richmond. Residents enjoy beautiful views of the city and easy access to restaurants, offices, and shops. This neighborhood provides renters with small-town charm and big-city conveniences.
City Center Richmond
Average Rent
$1,590/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
63/100
Units Available
267 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out City Center Richmond. The average rent is $1,590, compared to the city average of $1,394. Rent prices have decreased by 3.5%. City Center Richmond is convenient to Chimborazo Park, Richmond Canal, and Wilton Square at Tobacco Row. The community is walkable with a WalkScore® of 94.
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.