Cheap Apartments for Rent in the Central Austin Neighborhood of Austin, TX from $500 (112 Rentals)

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

property at 4103 Speedway

4103 Speedway

AustinTX78751

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property at 400 W 34th St

400 W 34th St

AustinTX78705

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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property at 2408 Leon St

2408 Leon St

AustinTX78705

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

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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 1 Bed unit found at La Casita priced from $799. Pinnacle 31 has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here are the most affordable Central Austin apartments for rent in Austin, TX:

Apartment ListingModel NameBed/BathPriced From
La Casita1BR/1.0BA1BR,1BA$799
Pinnacle 31EfficiencyStudio,1BA$875
San Gabriel Square ApartmentsLarge 1BR/1BA1BR,1BA$899
Villas on GuadalupeB11 Loft3BR,2BA$915
Swisher Apartments1BR/1.0BA1BR,1BA$950
Casa Del Rio ApartmentsA21BR,1BA$959
Greenwood SquareStudio-Studio,1BA$979
Nova HouseA11BR,1BA$995
Fountain Terrace ApartmentsS1 UpgradedStudio,1BA$995
Lone Star Lofts1BR/1.0BA1BR,1BA$1,015

Best Value Apartments for Rent in Central Austin, TX

As of August 19, 2025 the best value apartment in the Central Austin area is the $1.04 price per square foot D1 Model at Point North Student Living in the in the East Austin neighborhood starting from $1,389. The second greatest value Central Austin apartment is the B11 Model at Venue on Guadalupe starting at $1,303 with a $1.08 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.
Point North Student LivingD14BR,4BA$1.04
Venue on GuadalupeB112BR,2BA$1.08
GrandMarc Austin2X22BR,2BA$1.38
Axis West CampusVisionary2BR,2BA$1.28
Sparq on RioSan Antonio2BR,2BA$1.55
1883 at Montgomery House Student LivingB12BR,2BA$1.28
Casa Del Rio ApartmentsB12BR,1BA$1.51
La Casita2BR/1.0BA2BR,1BA$1.31
1883 at Cameron House Student LivingA21BR,1BA$1.32
Nova House1-Bedroom1BR,1BA$1.61

Quick Rent Budget Calculator

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Central Austin, Austin, TX

Ranked #42

Among cities in Texas 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 a cheap apartment in Central Austin?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Central Austin is under $1,015.

What is the price of a cheap apartment in Central Austin?

The cheapest apartment in Central Austin is La Casita which is listed at $799, while the average apartment in Central Austin costs $18,900.

What types of apartments are the cheapest in Central Austin?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 112 regular apartments in Central Austin that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Central Austin?

Cheap apartments in Central Austin have an average cost of $748 which is $18,152 cheaper than the average rent for all rentals in Central Austin.

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.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.