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Studio Apartments for Rent in Petersburg, VA

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  • /15

    Starting at $989 Plus Fees

    • Studio - 3 Beds

    420 High St, Petersburg, VA 23803

    In the heart of Petersburg, VA, High Street Lofts is the urban dweller’s dream apartment community. Located in Petersburg's most historic residential neighborhood, our cozy two-bedroom apartments boast nearby access to dining, shopping, entertainment, nightlife, and so much more. Not to mention, head to the nearby Union Train Station to explore the bright and bustling Old Towne Petersburg

    High Street Lofts

    420 High St, Petersburg, VA 23803
  • /22

    Starting at $1,275

    Total Monthly Price

    • Studio - 3 Beds

    250-316 E Bank St, Petersburg, VA 23803

    Experience the pinnacle of upscale living at Mayton Transfer Lofts. Our apartments in the heart of Petersburg offer unparalleled sophistication, allowing you to immerse yourself in the vibrant culture of Old Towne. With top-tier amenities, resort-inspired services, and a prestigious address, you can enjoy urban conveniences while cherishing the peace you deserve. Conveniently nestled near I-95

    Mayton Transfer Lofts

    250-316 E Bank St, Petersburg, VA 23803
  • /30

    Starting at $1,295 Plus Fees

    • Studio - 1 Bed

    257 E Bank St, Petersburg, VA 23803

    Located in the heart of historic downtown Petersburg, VA, these charming one-bedroom units combine character, convenience and modern comfort. Situated just minutes from Fort Lee and surrounded by local shopping, dining and entertainment, this home offers the perfect blend of lifestyle and location.Inside the unit features stunning exposed wood beams, natural brick accents, and authentic

    The Nash Lofts

    257 E Bank St, Petersburg, VA 23803
  • /26

    Starting at $1,047

    Total Monthly Price

    • Studio - 2 Beds

    230 N Sycamore St, Petersburg, VA 23803

    Welcome to Old Towne Flats — apartment living in the heart of historic downtown Petersburg, VA. This newly renovated community offers stylish studio, one-bedroom, and two-bedroom apartment homes designed for those seeking an active lifestyle in a warm, modern, and creatively inspired environment.Blending historic character with contemporary finishes, Old Towne Flats showcases vintage

    Old Towne Flats

    230 N Sycamore St, Petersburg, VA 23803
  • /13

    Starting at $834

    Total Monthly Price

    • Studio - 1 Bed

    622 E Wythe St, Petersburg, VA 23803

    Stumble onto an unexpected find in a charming, tucked-away corner of Petersburg, just minutes from Virginia State University and Fort Gregg-Adams. Nestled just south of the Appomattox River and close to Colonial Heights, our brand-new apartment community offers thoughtfully designed studio apartment homes with sleek, modern finishes and the comfort of individually-controlled air conditioning

    Studio 622

    622 E Wythe St, Petersburg, VA 23803

Why Live in Petersburg

Petersburg, Virginia, located 20 miles south of Richmond, is a small city undergoing significant revitalization. With a picturesque downtown near the Appomattox River, it attracts those interested in local food, art, and community. The city has seen a boost from Gov. Glen Youngkin’s Partnership for Petersburg, which includes over 40 initiatives aimed at improving various sectors, including retail and education. The potential installation of a casino, pending a public referendum in November 2024, could further enhance tax revenue and job creation. Petersburg's housing market features a mix of historic 1850s brick rowhouses, multi-unit buildings, and fixer-uppers, with single-owner properties being the majority. The city’s largest employers include Fort Gregg-Adams and Bon Secours Medical Hospital.

Petersburg offers a range of things to do, such as kayaking on Wilcox Lake at Legends Park, golfing at Dogwood Trace Golf Course, and enjoying fitness facilities at the renovated Petersburg Family YMCA. The downtown dining scene features comfort food at places like Alibi, Croaker’s Spot, and Saucy’s Sit-Down BBQ, while Trapezium Brewery and Demolition Coffee add to the local flavor. The monthly Friday for the Arts event showcases the city’s artistic side, with art walks and exhibits in Old Towne.

Transportation is facilitated by Crater Road, which connects to major commuter routes and retail areas, and the Petersburg Station bus depot, part of the downtown revitalization. The city has also focused on reducing crime, with a 20% increase in police staffing and a 33% reduction in the local crime rate from 2022 to 2023.

Frequently Asked Questions

How much does it cost to rent a home in Petersburg, VA?
The median rent for a home in Petersburg, VA is $1,462 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Petersburg, VA?
To comfortably afford the median rent in Petersburg, VA, a household needs to earn roughly $58,480 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,462 per month in Petersburg, VA, renters typically need to show $4,386 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Petersburg, VA?
In Petersburg, VA, the price-to-rent ratio is 14.7, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
5
Median Rent
$1,462
Median Single Family Home Rent
$1,650
Median Townhouse Rent
$1,435
Median Condo Rent
$1,150
How to Rent a Home