Cheap Apartments for Rent in the Downtown Austin Neighborhood of Austin, TX from $600 (43 Rentals)

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

property at 1600 West Ave

1600 West Ave

AustinTX78701

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 1108 Nueces St

1108 Nueces St

AustinTX78701

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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Penthouse
1 to 3 Bedroom Apartments

Penthouse

1801 Rio Grande StAustin, TX 78701
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21 Rio Apartments
1 to 3 Bedroom Apartments

21 Rio Apartments

2101 Rio GrandeAustin, TX 78705
Student Housing
  • Utilities Included
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The Willows
Studio to 2 Bedroom Apartments

The Willows

600 S 1st StAustin, TX 78704

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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Lorrain
1 to 3 Bedroom Apartments

Lorrain

1401 Enfield RdAustin, TX 78703
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Elle West Ave
Studio to 2 Bedroom Apartments

Elle West Ave

300 West AveAustin, TX 78701
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South Congress Square
1 to 2 Bedroom Apartments

South Congress Square

500 S Congress AveAustin, TX 78704
  • Utilities Included
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The Quincy
Studio to 3 Bedroom Apartments

The Quincy

91 Red River StAustin, TX 78701
Showing Results 1-43, Page 1 of 1

Downtown Austin, Austin, TX Local Guide

Cheapest Available Downtown Austin Apartments for Rent

 

The cheapest available apartment rental in the Downtown Austin area of Austin, TX is a Studio unit found at 1400 Rio Grande Apartments priced from $1,050. SoCo on the Lake has the second lowest priced unit, which is a Studio apartment currently listed from $1,154. Here are the most affordable Downtown Austin apartments for rent in Austin, TX:

Apartment ListingModel NameBed/BathPriced From
1400 Rio Grande ApartmentsefficiencyStudio,1BA$1,050
SoCo on the Lake0BStudio,1BA$1,154
The WillowsPRELEASE NOW FOR SUMMER 2025 wilA31BR,1BA$1,199
Lantana ApartmentsOne-Bedroom One-Bathroom1BR,1BA$1,200
Rio House Apartments1 Bedroom1BR,1BA$1,200
Regency - Fabulous landmark Downtown Austin property1 Bedroom/1 Bath (696 sq. ft.)1BR,1BA$1,295
Park Terrace ApartmentsSage1BR,1BA$1,399
The Ladybird Senior Apartments - 55+A2.c-60%1BR,1BA$1,425
RailyardLady BirdStudio,1BA$1,450
Corazone1Studio,1BA$1,485

Best Value Apartments for Rent in Downtown Austin, TX

As of June 24, 2025 the best value apartment in the Downtown Austin area is the $1.97 price per square foot #342 Model at Nueces Flats in the in the Central East Austin neighborhood starting from $2,450. The second greatest value Downtown Austin apartment is the TH - C2 Model at Torre starting at $1,510 with a $1.31 price per square foot in the Central East Austin neighborhood. Here is today’s list of the best values for Downtown Austin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Nueces Flats#3422BR,2BA$1.97
TorreTH - C23BR,3BA$1.31
Lantana ApartmentsTwo-Bedroom Two-Bathroom2BR,2BA$2.06
The Ladybird Senior Apartments - 55+A1.j-80%1BR,1BA$2.30
The Beverly AustinA31BR,1BA$2.31
Signature 1909Frisco C2BR,2BA$1.69
Rio House Apartments2 Bedroom2BR,1BA$1.87
Regency - Fabulous landmark Downtown Austin property1 Bedroom/1 Bath (696 sq. ft.)1BR,1BA$1.86
SoCo on the Lake0BStudio ,1BA$2.21
The WillowsPRELEASE NOW FOR FALL 2025 wilA1Studio ,1BA$2.34

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Pet Friendly Lifestyle
Downtown Austin, Austin, TX

Ranked #39

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

ApartmentHomeLiving.com compares millions of points of data to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of neighborhoods, areas, 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 convenient access to the outdoors, kid and pet-friendly communities, availability of transit options, and much more. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Downtown Austin Apartments

What is a cheap apartment in Downtown Austin?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Austin is under $1,485.

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

The cheapest apartment in Downtown Austin is The Willows which is listed at $1,199, while the average apartment in Downtown Austin costs $4,800.

What types of apartments are the cheapest in Downtown 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 62 regular apartments in Downtown 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 Downtown Austin?

Cheap apartments in Downtown Austin have an average cost of $750 which is $4,050 cheaper than the average rent for all rentals in Downtown 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.

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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.

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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.