Cheap Apartments for Rent in the Downtown Austin Neighborhood of Austin, TX from $700 (63 Rentals)

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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.

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property at 2110 Rio Grande

$1,500

Total Monthly Price

Total Monthly Price

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

2 Bedroom, 1 Bath Condo for Rent

Available Now

2110 Rio Grande, Unit 206

2110 Rio Grande
AustinTX78705

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.

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Corazon
Rent Specials
$1,559 - $3,237
Total Monthly Price

Total Monthly Price

Base Rent
$1,559 - $3,237
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Jul 1

Corazon

1000 E 5th StAustin, TX 78702
Affordability
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property at 1908 San Antonio St

$1,600 - $2,150

Total Monthly Price

Total Monthly Price

Base Rent
$1,600 - $2,150
Total Monthly Price
$1,600 - $2,150

2 Bedroom, 2 Bath Condo for Rent

Available Aug 1

1908 San Antonio St

AustinTX78705
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Railyard
Rent Specials
$1,657 - $3,432
Total Monthly Price

Total Monthly Price

Base Rent
$1,657 - $3,432
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

Railyard

201-301 E 4th St EAustin, TX 78701
Transit Friendly
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AMLI Eastside
$1,694 - $4,967
Total Monthly Price

Total Monthly Price

Base Rent
$1,694 - $4,967
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

AMLI Eastside

1000-1004 San Marcos StAustin, TX 78702
Corporate Housing
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422 at the Lake
Rent Specials
$1,768 - $2,718
Total Monthly Price

Total Monthly Price

Base Rent
$1,768 - $2,718
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

422 at the Lake

422 W Riverside DrAustin, TX 78704
Affordability
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property at 800 Brazos St

$1,875

Total Monthly Price

Total Monthly Price

Base Rent
$1,875
Total Monthly Price
$1,875

1 Bedroom, 1 Bath Condo for Rent

Available Jul 1

800 Brazos St, Unit 710

800 Brazos St
AustinTX78701

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.

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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 Jul 30

800 Embassy Dr

AustinTX78702
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Penthouse
1 to 3 Bedroom Apartments

Penthouse

1801 Rio Grande StAustin, TX 78701
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The Willows
Studio to 2 Bedroom Apartments

The Willows

600 S 1st StAustin, TX 78704
property at 1800 Lavaca St

$1,250 - $2,200

1 To 2 Bedroom Rentals

Available Now

1800 Lavaca St

AustinTX78701
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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

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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The Quincy
Studio to 3 Bedroom Apartments

The Quincy

91 Red River StAustin, TX 78701
property at 1105 E 3rd St

$1,500

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Home for Rent

Available Now

1105 E 3rd St

AustinTX78702
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South Congress Square
1 to 2 Bedroom Apartments

South Congress Square

500 S Congress AveAustin, TX 78704
  • Utilities Included

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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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 Lady BirdA2.c-60%1BR,1BA$1,100
Residences at SaltilloE1 - SMARTStudio,1BA$1,171
Rio House Apartments1 Bedroom1BR,1BA$1,200
Lantana Apartments1S1BR,1BA$1,250
Timbercreek ApartmentsA1 Affordable1BR,1BA$1,262
The WillowswilA31BR,1BA$1,299
CrescentE1Studio,1BA$1,425
Regency North Apartments2 Bedroom/1 Bath - Small (984 sq. ft.)2BR,1BA$1,495

Best Value Apartments for Rent in Downtown Austin, TX

As of June 23, 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 D1 - Trinity Model at Union on San Antonio starting at $1,505 with a $1.19 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
Union on San AntonioD1 - Trinity4BR,4BA$1.19
Nueces Flats#4422BR,2BA$1.97
The Lady BirdB1.d-80%2BR,2BA$1.67
Regency North Apartments2 Bedroom/1 Bath - Small (984 sq. ft.)2BR,1BA$1.52
Eleven by WindsorA21BR,1BA$2.45
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$1.40

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.

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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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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 #63

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 $1,495.

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

The cheapest apartment in Downtown Austin is The Lady Bird which is listed at $1,100, while the average apartment in Downtown Austin costs $8,364.

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 35 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 $770 which is $7,594 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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