Cheap Apartments for Rent in the Downtown Austin Neighborhood of Austin, TX from $700 (71 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

Read Article
close
View Me
Corazon
Rent Specials
$1,550 - $3,003
Total Monthly Price

Total Monthly Price

Base Rent
$1,550 - $3,003
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Corazon

1000 E 5th StAustin, TX 78702
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
1007 West Avenue
$1,600
Total Monthly Price

Total Monthly Price

Base Rent
$1,600
Total Monthly Price
$1,600
1 Bedroom Apartment Available Now

1007 West Avenue

1007 West AvenueAustin, TX 78701
Affordability

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

Read Article
close
View Me
Railyard
Rent Specials
$1,657 - $3,532
Total Monthly Price

Total Monthly Price

Base Rent
$1,657 - $3,532
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

Railyard

201-301 E 4th St EAustin, TX 78701
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour
property at 1908 San Antonio St

$1,850 - $2,150

Total Monthly Price

Total Monthly Price

Base Rent
$1,850 - $2,150
Total Monthly Price
$1,850 - $2,150

2 Bedroom, 2 Bath Condo for Rent

Available Aug 1

1908 San Antonio St

AustinTX78705
close
View Me
422 at the Lake
Rent Specials
$1,896 - $3,684
Total Monthly Price

Total Monthly Price

Base Rent
$1,896 - $3,684
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

422 at the Lake

422 W Riverside DrAustin, TX 78704
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour

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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Read Article
property at 800 Embassy Dr

$1,993 - $3,993

Total Monthly Price

Total Monthly Price

Base Rent
$1,993 - $3,993
Total Monthly Price
$1,993 - $3,993

1 To 2 Bedroom Condos for Rent

Available Now

800 Embassy Dr

AustinTX78702
close
View Me
Penthouse
1 to 3 Bedroom Apartments

Penthouse

1801 Rio Grande StAustin, TX 78701

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.

Read Article
close
View Me
The Willows
Studio to 2 Bedroom Apartments

The Willows

600 S 1st StAustin, TX 78704
close
View Me
Lorrain
1 to 3 Bedroom Apartments

Lorrain

1401 Enfield RdAustin, TX 78703
close
View Me
Eleven by Windsor
Studio to 2 Bedroom Apartments

Eleven by Windsor

811 E 11th StAustin, TX 78702
property at 620 S 1st St

$1,500 - $2,100

1 To 2 Bedroom Rentals

Available Now

620 S 1st St

AustinTX78704
close
View Me
South Congress Square
1 to 2 Bedroom Apartments

South Congress Square

500 S Congress AveAustin, TX 78704
  • Utilities Included
close
View Me
AMLI 300
Studio to 2 Bedroom Apartments

AMLI 300

300 N Lamar BlvdAustin, TX 78703

The Real Cost of Keeping Austin Weird: A Local Expert’s Guide to Budget Living in ATX

Moving to Austin? Get an insider’s guide to managing costs in the Music Capitol. Discover which affordable ATX neighborhoods fit your budget and lifestyle.

Read Article
Showing Results 1-50, Page 1 of 2

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 The Rebekah Senior Apartments priced from $702. 1400 Rio Grande Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,050. Here are the most affordable Downtown Austin apartments for rent in Austin, TX:

Apartment ListingModel NameBed/BathPriced From
The Rebekah Senior ApartmentsT1- 30%Studio,1BA$702
1400 Rio Grande ApartmentsefficiencyStudio,1BA$1,050
The Ladybird Senior Apartments - 55+A2.c-60%1BR,1BA$1,100
Residences at SaltilloE1 - SMARTStudio,1BA$1,171
Rio House Apartments1 Bedroom1BR,1BA$1,200
Timbercreek ApartmentsA2 Affordable1BR,1BA$1,278
The WillowswilA31BR,1BA$1,294
SoCo on the Lake1A1BR,1BA$1,323
The ShoalS1-CStudio,1BA$1,372
CrescentA21BR,1BA$1,513

Best Value Apartments for Rent in Downtown Austin, TX

As of May 09, 2026 the best value apartment in the Downtown Austin area is the $1.19 price per square foot D1 - Trinity Model at Union on San Antonio in the in the Central East Austin neighborhood starting from $1,495. The second greatest value Downtown Austin apartment is the #442 Model at Nueces Flats starting at $2,450 with a $1.97 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.
Union on San AntonioD1 - Trinity4BR,4BA$1.19
Nueces Flats#4422BR,2BA$1.97
The Ladybird Senior Apartments - 55+B1.d-80%2BR,2BA$1.67
Lantana Apartments2M2BR,2BA$1.91
The Beverly at Medical CenterA31BR,1BA$2.40
Signature 1909Frisco C2BR,2BA$1.96
Rio House Apartments2 Bedroom - Prelease2BR,1BA$2.13
The WillowswilA31BR,1BA$2.17
Timbercreek ApartmentsA2 Affordable1BR,1BA$2.25
The Rebekah Senior ApartmentsT1- 30%Studio ,1BA$1.40

Work-Life Balance in Austin: Find Your Perfect Apartment Near Top Employers

The Austin job market is booming, but where should you live? Discover the most affordable and charming neighborhoods that put you minutes from Dell Seton, IBM, and Dell.

Read Article
Decorative image

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

Read Article
Decorative image

Local Expert's Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Austin

A Local Experts guide to the Best Student Friendly Neighborhoods Near Colleges in the Austin, TX metro area for affordable living. Find your perfect Austin Student apartment, condo, or rental home today at ApartmentHomeliving.com

Read Article
Decorative image

Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

Read Article
Decorative image

Quick Rent Budget Calculator

How much rent can you afford?

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Downtown Austin, Austin, TX

Ranked #45

Among cities in Texas for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

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 $1,513.

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

The cheapest apartment in Downtown Austin is The Ladybird Senior Apartments - 55+ which is listed at $1,100, while the average apartment in Downtown Austin costs $8,921.

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 32 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 $956 which is $7,965 cheaper than the average rent for all rentals in Downtown Austin.

Expert Rental Resources

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.

Helpful Local Expert Guides

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 Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Austin article

Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Austin

Written by: Raul Mercado

For many people the College years are some of the best years of your life. And you can certainly make the most of those years by finding the perfect place around your campus to call home.

decorative image for Beyond "Keep Austin Weird": Your Insiders Ultimate Guide to Renting and Living in Austin, Texas article

Beyond "Keep Austin Weird": Your Insiders Ultimate Guide to Renting and Living in Austin, Texas

Written by: Raul Mercado

Hi, I’m Raul, the ApartmentHomeLiving.com Local Guide for Austin. I’ve called the area home long enough to know all the shortcuts and best places to check out and am happy to share them with you today.

decorative image for Work-Life Balance in Austin: Find Your Perfect Apartment Near Top Employers article

Work-Life Balance in Austin: Find Your Perfect Apartment Near Top Employers

Written by: Raul Mercado

Hello! I’m Raul, your ApartmentHomeLiving.com local expert for Austin, Texas. I’ve spent years exploring Austin’s neighborhoods throughout my time living in this great city in different apartments and homes.

Articles, How-To's, and Tips

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.