Most Affordable Neighborhoods in Richmond, VA
Some of the cheapest neighborhoods in Richmond are Blackwell, Upper Shockoe Valley, and Monroe Ward. These neighborhoods offer some of the lowest rent prices in Richmond, making them ideal for renters on a budget. As of March 2, 2025, the average rent in Richmond is $1,382, which is 1.8% 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
$1,046/Month
Year-Over-Year Rent Change
40.3%
TransitScore® Rating
46/100
Units Available
92 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.
Upper Shockoe Valley
Average Rent
$1,336/Month
Year-Over-Year Rent Change
2.3%
TransitScore® Rating
59/100
Units Available
140 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.
Monroe Ward
Average Rent
$1,377/Month
Year-Over-Year Rent Change
2.2%
TransitScore® Rating
62/100
Units Available
192 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.
Shockoe Bottom
Average Rent
$1,411/Month
Year-Over-Year Rent Change
2.6%
TransitScore® Rating
55/100
Units Available
415 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.
Capitol District
Average Rent
$1,412/Month
Year-Over-Year Rent Change
4.3%
TransitScore® Rating
64/100
Units Available
117 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 $1,412, while the city’s average stands at $1,382. In the last year, prices have decreased by 4.3%. Capitol District is near University of Richmond, Wilton Square at Tobacco Row, and City View Marketplace.
East End
Average Rent
$1,436/Month
Year-Over-Year Rent Change
2.6%
TransitScore® Rating
49/100
Units Available
554 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.
Church Hill
Average Rent
$1,457/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
51/100
Units Available
67 Rentals
Church Hill is a top choice for budget-conscious renters for a variety of reasons. The average rent in Church Hill is $1,457 while the city average is $1,382. This is a 1% difference from last year. Residents enjoy convenient access to Wilton Square at Tobacco Row, Maggie L Walker National Historic Site, and Virginia Union University. The neighborhood is considered walkable with a WalkScore® of 88.
Old Town Manchester
Average Rent
$1,467/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
45/100
Units Available
860 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.
Manchester
Average Rent
$1,493/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
48/100
Units Available
471 Rentals
When you’re looking for a great Richmond neighborhood on a budget, check out Manchester. The average rent is $1,493, compared to the city average of $1,382. Rent prices have increased by 1.2%. Manchester is convenient to Monroe Park, Reynolds C.C., Downtown, and Richmond International. The community is walkable with a WalkScore® of 72.
Northside
Average Rent
$1,526/Month
Year-Over-Year Rent Change
1.9%
TransitScore® Rating
43/100
Units Available
176 Rentals
Northside in Richmond is known for its beautiful parks and green spaces, providing the neighborhood with ample opportunities for leisure. Nearby shopping centers and eateries enhance the convenience of residing here.
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.