The 10 Cheapest Richmond, VA Neighborhoods To Live In For 2022


We used science and data to determine which neighborhoods in Richmond are the cheapest of the cheap.

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Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.

I'd much rather pay $500/mo in rent than $1,000. And I'd rather pay $2 for coffee than $5.

And while every neighbhorhood in Richmond might be more expensive than living in rural Virginia, there are certain neighborhoods that are definitely cheaper.

So what exactly are those Richmond neighborhoods where your dollar goes a little further -- you can get that one bedroom instead of the studio?

Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Richmond are the cheapest.

What's the cheapest neighborhood to live in Richmond for 2022? According to the most recent census data, Edgewood looks to be the cheaptest Richmond neighborhood to live in.

At this point we should make it clear that you do get what you pay for -- some of these neighborhoods might not be the best places to live in Richmond. You could be sacrificing location or crime rates in return for more space and cheaper groceries.

Read on to see how we determined the places around Richmond that deserve a little bragging rights or maybe you're interested in the worst neighborhoods in Richmond.

Once you're done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.

For more Virginia reading, check out:

The 10 Cheapest Neighborhoods To Live In Richmond For 2022

Overall SnackAbility

8
/10

Population: 780
Cost Of Living Index: 88 (22nd cheapest)
Home Value To Income Ratio: 2.6 (12th cheapest)
Rent To Income Ratio: 0.006 (7th cheapest)
More on Edgewood: Homes For Sale | Data

Overall SnackAbility

3
/10

Population: 708
Cost Of Living Index: 80 (cheapest)
Home Value To Income Ratio: 2.7 (13th cheapest)
Rent To Income Ratio: 0.017 (3cheapest)
More on Broad Rock: Homes For Sale | Data

Overall SnackAbility

6
/10

Population: 396
Cost Of Living Index: 93 (47th cheapest)
Home Value To Income Ratio: 2.6 (10th cheapest)
Rent To Income Ratio: 0.021 (54th cheapest)
More on Broad Rock Sports Complex: Homes For Sale | Data

Overall SnackAbility

5
/10

Population: 831
Cost Of Living Index: 93 (47th cheapest)
Home Value To Income Ratio: 2.8 (19th cheapest)
Rent To Income Ratio: 0.02 (46th cheapest)
More on Belt Center: Homes For Sale | Data

Overall SnackAbility

5
/10

Population: 412
Cost Of Living Index: 90 (29th cheapest)
Home Value To Income Ratio: 2.7 (16th cheapest)
Rent To Income Ratio: 0.023 (69th cheapest)
More on Pocoshock: Homes For Sale | Data

Overall SnackAbility

1
/10

Population: 357
Cost Of Living Index: 82 (3rd cheapest)
Home Value To Income Ratio: 1.3 (cheapest)
Rent To Income Ratio: 0.031 (110th cheapest)
More on Cofer: Homes For Sale | Data

Overall SnackAbility

8
/10

Population: 635
Cost Of Living Index: 101 (84th cheapest)
Home Value To Income Ratio: 2.8 (18th cheapest)
Rent To Income Ratio: 0.013 (16th cheapest)
More on Westover Hills West: Homes For Sale | Data

Overall SnackAbility

7
/10

Population: 2,008
Cost Of Living Index: 94 (56th cheapest)
Home Value To Income Ratio: 2.6 (10th cheapest)
Rent To Income Ratio: 0.021 (54th cheapest)
More on South Garden: Homes For Sale | Data

Overall SnackAbility

5
/10

Population: 621
Cost Of Living Index: 91 (34th cheapest)
Home Value To Income Ratio: 2.7 (16th cheapest)
Rent To Income Ratio: 0.023 (69th cheapest)
More on Warwick: Homes For Sale | Data

Overall SnackAbility

8
/10

Population: 560
Cost Of Living Index: 109 (110th cheapest)
Home Value To Income Ratio: 2.1 (6th cheapest)
Rent To Income Ratio: 0.004 (4th cheapest)
More on Country Club Of Virginia: Homes For Sale | Data

Methodology: How We Determined The Cheapest Richmond Hoods In 2022

In order to rank the cheapest places to live in Richmond, we had to determine what criteria defines "cheap".

Using census and extrapolated BLS data, we arrived at the following set of criteria:

  • Overall Cost Of Living
  • Rent To Income Ratio
  • Median Home Value To Income Ratio

We then ranked each neighborhood with scores from 1 to 137 in each category, where 1 was the cheapest.

Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.

And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the "Cheapest City Neighborhood In Richmond." We're lookin' at you, Edgewood.

Read on below to learn more about what it's like to live in the cheapest places Richmond. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.

Summary: Lowest Cost Places To Live In Richmond

If you're measuring the neighborhoods in Richmond where prices are low and it's cheap to live, this is an accurate list.

As we mentioned earlier, the neighborhoods in Richmond aren't all cheap. Vcu takes the title of the most expensive neighborhood to live in Richmond.

We ranked the neighborhoods from cheapest to most expensive in the chart below.

For more Virginia reading, check out:

Detailed List Of The Cheapest Neighborhoods To Live In Richmond For 2022

Rank Neighborhood Cost Of Living Index
1 Edgewood 88
2 Broad Rock 80
3 Broad Rock Sports Complex 93
4 Belt Center 93
5 Pocoshock 90
6 Cofer 82
7 Westover Hills West 101
8 South Garden 94
9 Warwick 91
10 Country Club Of Virginia 109
11 Jeff Davis 81
12 Maury 86
13 Hioaks 88
14 Mcguire Manor 89
15 Westover 93
16 Oakwood Cemetery 92
17 Swanson 93
18 Oakwood 92
19 Stratford Hills 106
20 Cedarhurst 99
21 Bellemeade 87
22 Broad Rock Industrial Park 85
23 Hickory Hill 93
24 Virginia Union 95
25 Gravel Hill 101
26 Oak Grove 86
27 Parnell Industrial Area 87
28 Powhite Park 101
29 Jahnke 92
30 Woodhaven 90
31 Biotech And Mcv District 88
32 Oxford 105
33 Sherwood Park 102
34 Midlothian 91
35 Monument Avenue Park 111
36 Upper Shockoe Valley 83
37 Brauers 85
38 British Camp Farms 94
39 Forest Hill 110
40 Church Hill North 92
41 Walmsley 97
42 Davee Gardens 90
43 Highland Terrace 90
44 Ginter Park Terrace 94
45 Providence Park 90
46 Byrd Park 103
47 Whitcomb 83
48 North Highland Park 92
49 Westover Hills 105
50 Huguenot 114
51 Chamberlayne Industrial Center 94
52 Northern Barton Heights 98
53 Old Town Manchester 95
54 Green Park 92
55 The Diamond 102
56 Carillon 109
57 Fawnbrook 97
58 Brookhaven Farms 97
59 Mcguire Veterans Hospital 93
60 Worthington 93
61 Fairmount 83
62 Woodland Heights 98
63 Southern Barton Heights 94
64 Mcguire 88
65 Maymont Park 103
66 Stony Point 115
67 Cullenwood 94
68 Colonial Place 124
69 Creighton 83
70 Brookland Park 94
71 Belmont Woods 97
72 Woodville 84
73 Peter Paul 84
74 Stonewall Court 134
75 Blackwell 94
76 Willow Oaks 106
77 Deerbourne 95
78 Swansboro 94
79 Westlake Hills 101
80 Willow Lawn 120
81 Wilton 217
82 Windsor Farms 211
83 Sauer's Gardens 109
84 Randolph 98
85 Brookbury 100
86 Forest Hill Terrace 107
87 Three Chopt 132
88 Fulton 92
89 Southampton 119
90 Cottrell Farms 98
91 Forest Hill Park 110
92 Piney Knolls 94
93 Magnolia Industrial Center 88
94 Hillside Court 84
95 Malvern Gardens 117
96 Forest View 103
97 Newtowne West 101
98 Museums 101
99 Ginter Park 107
100 Stadium 99
101 Highland Park Southern Tip 96
102 Capitol District 104
103 Pine Camp 90
104 Washington Park 90
105 Fairfield 84
106 Oregon Hill 108
107 Swansboro West 88
108 Bellevue 113
109 Beaufont 96
110 Scott's Addition 106
111 Elkhardt 91
112 Eastview 83
113 Chippenham Forest 112
114 Maymont 91
115 Carytown 113
116 Rosedale 107
117 City Center 105
118 Chimborazo 102
119 Reedy Creek 95
120 The Museum District 117
121 Church Hill 112
122 Mary Munford 126
123 Belle And Mayo Islands 99
124 Carver 99
125 Union Hill 98
126 The Fan 123
127 Hollywood Cemetery 96
128 Shockoe Bottom 111
129 John Marshall 107
130 Northrop 104
131 Jackson Ward 107
132 Monroe Ward 106
133 Bryan Park 112
134 Central Office 134
135 Shockoe Slip 136
136 Gambles Hill 137
137 Vcu 115

Editor's Note: We updated this article for 2022. This is our third time ranking the cheapest neighborhoods to live in Richmond.

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.