Cheap Apartments for Rent in the Downtown Austin Neighborhood of Austin, TX from $700 (62 Rentals)

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

Keep Austin Affordable: A Renter's Guide to the Best Suburbs Around the City

Round Rock, Buda, Cedar Park, and more — Austin's surrounding metros offer incredible value for renters. Our local expert compares the best surrounding cities so you can find more space, lower rent, and a great quality of life just minutes from the city.

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Corazon
Rent Specials
$1,500 - $2,798
Total Monthly Price

Total Monthly Price

Base Rent
$1,500 - $2,798
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Aug 8

Corazon

1000 E 5th StAustin, TX 78702
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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 1113 E 2nd St

$1,500

1 Bedroom Rentals

Available Aug 10

1113 E 2nd St

AustinTX78702
property at 1200 Newning Ave

$1,600

Total Monthly Price

Total Monthly Price

Base Rent
$1,600
Total Monthly Price
$1,600

1 Bedroom, 1 Bath Condo for Rent

Available Now

1200 Newning Ave, Unit 308

1200 Newning Ave
AustinTX78704
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Railyard
Rent Specials
$1,636 - $3,632
Total Monthly Price

Total Monthly Price

Base Rent
$1,636 - $3,632
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

Railyard

201-301 E 4th St EAustin, TX 78701
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Bridge at Eastside
$1,785 - $3,782
Total Monthly Price

Total Monthly Price

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$1,785 - $3,782
Total Monthly Price
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1 to 2 Bedroom Apartments Available Now

Bridge at Eastside

1000-1004 San Marcos StAustin, TX 78702
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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.

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The Waller
Rent Specials
$1,945 - $8,280
Total Monthly Price

Total Monthly Price

Base Rent
$1,945 - $8,280
Total Monthly Price
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Studio to 3 Bedroom Apartments Available Now

The Waller

1104 Sabine StAustin, TX 78701
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The Lola
Rent Specials
$1,991 - $3,771
Total Monthly Price

Total Monthly Price

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$1,991 - $3,771
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1 to 2 Bedroom Apartments Available Now

The Lola

1221 S Congress AveAustin, TX 78704
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422 at the Lake
Rent Specials
$1,991 - $4,947
Total Monthly Price

Total Monthly Price

Base Rent
$1,991 - $4,947
Total Monthly Price
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Studio to 2 Bedroom Apartments Available Now

422 at the Lake

422 W Riverside DrAustin, TX 78704
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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 Jan 1, 2027

800 Embassy Dr

AustinTX78702
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Penthouse
1 to 3 Bedroom Apartments

Penthouse

1801 Rio Grande StAustin, TX 78701
property at 1800 Lavaca St

$1,275 - $1,850

1 To 2 Bedroom Rentals

Available Now

1800 Lavaca St

AustinTX78701
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South Congress Square
1 to 2 Bedroom Apartments

South Congress Square

500 S Congress AveAustin, TX 78704
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The Willows
Studio to 2 Bedroom Apartments

The Willows

600 S 1st StAustin, TX 78704

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

Moving to Austin, TX? We are Here to Help. Our Local Expert Breaks Down the Commute reality, Renting Around the City, the Job Scene, and Shares Recommendations for 5 Great Austin Neighborhoods You Should Explore First.

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Eleven by Windsor
Studio to 2 Bedroom Apartments

Eleven by Windsor

811 E 11th StAustin, TX 78702
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Lorrain
1 to 3 Bedroom Apartments

Lorrain

1401 Enfield RdAustin, TX 78703
property at 1800 Lavaca St

$1,500

Total Monthly Price

Total Monthly Price

Base Rent
$1,500
Total Monthly Price
$1,500

1 Bedroom, 1 Bath Condo for Rent

Available Now

1800 Lavaca St, Unit A-703

1800 Lavaca St
AustinTX78701
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Elle West Ave
Studio to 3 Bedroom Apartments

Elle West Ave

300 West AveAustin, TX 78701
property at 505 W 7th St

$1,595 - $2,250

1 Bedroom Rentals

Available Now

505 W 7th St

AustinTX78701

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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 $705. Timbercreek Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $991. 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$705
Timbercreek ApartmentsE1 AffordableStudio,1BA$991
1400 Rio Grande ApartmentsefficiencyStudio,1BA$1,050
The Ladybird Senior Apartments - 55+A1.h-60%1BR,1BA$1,100
Placemakr Downtown AustinS2Studio,1BA$1,114
Residences at SaltilloE1 - SMARTStudio,1BA$1,176
Rio House Apartments1 Bedroom1BR,1BA$1,200
Lantana Apartments1S1BR,1BA$1,250
The WillowswilA21BR,1BA$1,299

Best Value Apartments for Rent in Downtown Austin, TX

As of August 07, 2026 the best value apartment in the Downtown Austin area is the $0.82 price per square foot Boulder B Model at Signature 1909 in the in the Central East Austin neighborhood starting from $1,100. 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.
Signature 1909Boulder B4BR,4BA$0.82
Nueces Flats#4422BR,2BA$1.97
The Ladybird Senior Apartments - 55+B1.d-80%2BR,2BA$1.67
Regency North Apartments2 Bedroom/1 Bath - Small (984 sq. ft.)2BR,1BA$1.52
Eleven by WindsorA61BR,1BA$2.42
The Beverly at Medical CenterA11BR,1BA$2.37
Rio House Apartments2 Bedroom - Classic Model2BR,1BA$2.25
The WillowswilA21BR,1BA$2.27
Lantana Apartments1S1BR,1BA$2.28
The Rebekah Senior ApartmentsT1- 30%Studio ,1BA$1.41

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.

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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.

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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

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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.

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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.

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Pet Friendly Lifestyle
Downtown Austin, Austin, TX

Ranked #65

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

Pet Friendliness Lifestyle Score

3.5
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 $1,299.

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 $2,589.

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 30 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 $969 which is $1,620 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.

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