High Street Lofts
420 High St,
Petersburg, VA 23803
$994 - $1,552 Plus Fees
Studio - 2 Beds
Rental Market Trends in Petersburg, VA
What is the average rent in Petersburg, VA?
$1,088/month
Average Rent
674 Sq Ft
Average Apartment Size
+2.1%
Increase in the Last Year
As of March 2026, the average rent in Petersburg, VA is $1,088 per month. This is 33% lower than the national average rent of $1,627/month, making renting in Petersburg more affordable than most cities in the US. When you rent an apartment in Petersburg, you can expect to pay about $974 per month for a studio, $1,088 for a one-bedroom apartment, and around $1,261 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,791 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Petersburg, VA?
In the past year, rent has increased by 2.1%, which averages out to $23 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2026
Legend
2025
2026
Rent Ranges in Petersburg, VA
Last Updated March 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
2%
Below $700/month
23%
$700 - $1,000/month
69%
$1,001 - $1,500/month
6%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Petersburg?
Based on current rent prices, Old Towne Petersburg and Old Towne Historic District" are the most affordable neighborhoods in Petersburg.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Petersburg?
Based on current rent prices, Old Towne Historic District and Old Towne Petersburg" are the most expensive neighborhoods in Petersburg.
Neighborhood
Average Rent
Average Sq Ft
Which Petersburg neighborhoods have the most rentals available?
The neighborhoods in Petersburg with the most apartments available are Old Towne Historic District and Old Towne Petersburg" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Petersburg, VA?
Because the average rent in Petersburg is $1,088, you’ll want to make about $3,626 per month or $43,512 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Petersburg, VA compare to other nearby cities and neighborhoods?
Use the tool below to compare Petersburg, VA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,016/month
-
One Bedroom
$1,155/month
-
Two Bedroom
$1,412/month
-
Three Bedroom
$3,025/month
-
Nearby City Rent Trends
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Greenbrier Management
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34
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James Doran Company
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21
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1,752
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Peak Property Management
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14
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580
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Franklin Group
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138
Communities
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25,621
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Capital Square
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53
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12,265
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38
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2 Communities in Petersburg
GoldOller Real Estate Investments
-
31
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12,517
Units
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21
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2 Communities in Petersburg
Thalhimer
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22
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3,556
Units
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12
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2 Communities in Petersburg
Princeton Management
-
125
Communities
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21,158
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62
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
* Percentages may not total 100 due to rounding.