Cheap Apartments for Rent in the Central Austin Neighborhood of Austin, TX from $500 (113 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Central Austin area of Austin.

property at 911 W 22nd St

911 W 22nd St

AustinTX78705
property at 2610 Salado St

2610 Salado St

AustinTX78705

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 4103 Speedway

4103 Speedway

AustinTX78751
property at 311 E 31st St

311 E 31st St

AustinTX78705

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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property at 1010 W 26th St

1010 W 26th St

AustinTX78705

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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property at 2900 Cole St

2900 Cole St

AustinTX78705
property at 1008 W 25th St

1008 W 25th St

AustinTX78705

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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property at 2408 Leon St

2408 Leon St

AustinTX78705

Austin's Best Affordable Neighborhoods

Learn about Austin and the best places to live with original content written by our Austin, TX Local Expert Raul Mercado

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Central Austin, Austin, TX Local Guide

Cheapest Available Central Austin Apartments for Rent

 

The cheapest available apartment rental in the Central Austin area of Austin, TX is a Studio unit found at San Gabriel Square Apartments priced from $809. La Casita has the second lowest priced unit, which is a 1 Bed apartment currently listed from $900. Here are the most affordable Central Austin apartments for rent in Austin, TX:

Apartment ListingModel NameBed/BathPriced From
San Gabriel Square ApartmentsLarge EfficencyStudio,1BA$809
La Casita1BR/1.0BA1BR,1BA$900
Swisher ApartmentsUpdated North Campus One Bedroom1BR,1BA$950
Villas on RioB5-SHARED2BR,2BA$959
Mauna Kai AustinModel A/BStudio,1BA$975
Nova HouseA11BR,1BA$995
Fountain Terrace ApartmentsS1 ClassicStudio,1BA$995
West Campus FlatsMini StudioStudio,1BA$995
HillTopColorado A4BR,4BA$995
Greenwood SquareStudio-Studio,1BA$999

Best Value Apartments for Rent in Central Austin, TX

As of June 18, 2025 the best value apartment in the Central Austin area is the $0.78 price per square foot 6 Bed, 6 Bath Plus Model at Yugo Austin Waterloo in the in the Central East Austin neighborhood starting from $1,329. The second greatest value Central Austin apartment is the 4 Bed, 4 Bath Deluxe Model at Yugo Austin Rio starting at $1,399 with a $0.88 price per square foot in the Central East Austin neighborhood. Here is today’s list of the best values for Central Austin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Yugo Austin Waterloo6 Bed, 6 Bath Plus6BR,6BA$0.78
Yugo Austin Rio4 Bed, 4 Bath Deluxe4BR,4BA$0.88
Point North Student LivingD14BR,4BA$1.04
HillTopFrio C3BR,2BA$0.99
Axis West CampusArdent2BR,2BA$1.21
Venue on GuadalupeB12BR,2BA$1.20
Sparq on RioSan Antonio2BR,2BA$1.55
Villas on RioB22BR,2BA$1.66
North 40Building A - 2 Bed 1 Bath2BR,1BA$1.53
La Casita1BR/1.0BA1BR,1BA$1.64

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Central Austin, Austin, TX

Ranked #44

Among neighborhoods in Austin, TX for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

Our team of engineers and researchers compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, cities, and rental properties across Texas, including Austin. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and the best proximity to parks and outdoor amenities, transit availability, pet-friendly communities, apartment complexes for the kids, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Central Austin Apartments

What is the Cheapest Studio apartment in Central Austin?

Currently the most affordable Cheap Studio Apartment in Central Austin is at San Gabriel Square Apartments listed at $809.

How much is rent for a Cheap One Bedroom Central Austin Apartment?

The lowest price for a Cheap One Bedroom Central Austin Apartment is $849 at San Gabriel Square Apartments.

What is the lowest price for a Cheap Two Bedroom Central Austin Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Central Austin is starting from $959 at Villas on Rio.

What is the most affordable Central Austin Three Bedroom Apartment?

The best deal on a cheap Central Austin Three Bedroom Apartment rental is at HillTop and starts from $1,200.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for The 10 Best Affordable Neighborhoods in Austin, TX article

The 10 Best Affordable Neighborhoods in Austin, TX

Written by: Raul Mercado

I'm Raul, your ApartmentHomeLiving.com local expert for Austin, Texas.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.