Cheap Apartments for Rent in the Franklin Park Neighborhood of Austin, TX from $500 (125 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 Franklin Park 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.

Read Article

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.

Read Article

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
close
View Me
Prospect
Rent Specials
$978 - $2,598
Total Monthly Price

Total Monthly Price

Base Rent
$978 - $2,598
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Prospect

122 Sheraton AveAustin, TX 78745
Furnished
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

Read Article
close
View Me
Hillside on Cannon
Rent Specials
$1,070 - $1,757
Total Monthly Price

Total Monthly Price

Base Rent
$1,070 - $1,757
Total Monthly Price
Varies
2 to 4 Bedroom Apartments Available Now

Hillside on Cannon

2302 E William Cannon DrAustin, TX 78744
Furnished
  • Verified
  • Customer Reviewed
  • Low Income

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.

Read Article
Showing Results 1-50, Page 1 of 3

Franklin Park, Austin, TX Local Guide

Cheapest Available Franklin Park Apartments for Rent

 

The cheapest available apartment rental in the Franklin Park area of Austin, TX is a 1 Bed unit found at Chevy Chase Downs priced from $649. Eastern Oaks has the second lowest priced unit, which is a 2 Beds apartment currently listed from $650. Here are the most affordable Franklin Park apartments for rent in Austin, TX:

Apartment ListingModel NameBed/BathPriced From
Chevy Chase Downs1BR/1BA1BR,1BA$649
Eastern Oaks2A2BR,2BA$650
Logans MillA1A The Madison1BR,1BA$667
Ekos City Heights1 Bedroom1BR,1BA$677
Coppertree Apartment HomesCoventry1BR,1BA$699
Treehouse ApartmentsThe 408Studio,1BA$708
Willow Brook ApartmentsA1S - One Bedroom with Sunroom1BR,1BA$750
Terrace Cove Apartment HomesA11BR,1BA$779
Bridge at South Point1/1f1BR,1BA$799
FoxwoodA11BR,1BA$830

Best Value Apartments for Rent in Franklin Park, TX

As of August 18, 2026 the best value apartment in the Franklin Park area is the $1.26 price per square foot C1R Model at The Aspect in the in the Oltorf-East Riverside neighborhood starting from $1,745. The second greatest value Franklin Park apartment is the D1 Model at Spring Villas- Income Restricted starting at $1,650 with a $1.22 price per square foot in the South Austin neighborhood. Here is today’s list of the best values for Franklin Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The AspectC1R3BR,2BA$1.26
Spring Villas- Income RestrictedD14BR,2BA$1.22
Kingfisher CreekThree Bedroom Flat3BR,2BA$1.17
Ethos ApartmentsB22BR,2BA$1.15
Urban Oaks35-B42BR,2BA$1.27
The Arts Apts At South AustinB22BR,2BA$1.28
Eastern Oaks2A2BR,2BA$0.84
Acclaim at South Congress1 Bedroom 1 Bath1BR,1BA$1.13
Polaris on the Park1 Bedroom1BR,1BA$1.25
Chevy Chase Downs1BR/1BA1BR,1BA$1.24

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
Franklin Park, Austin, TX

Ranked #54

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 rentals in cities and towns across the United States and customized analysis for South Austin, TX. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and proximity to parks, 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 Franklin Park Apartments

What is a cheap apartment in Franklin Park?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Franklin Park is under $830.

What is the price of a cheap apartment in Franklin Park?

The cheapest apartment in Franklin Park is Chevy Chase Downs which is listed at $649, while the average apartment in Franklin Park costs $1,415.

What types of apartments are the cheapest in Franklin Park?

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 142 regular apartments in Franklin Park 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 Franklin Park?

Cheap apartments in Franklin Park have an average cost of $561 which is $854 cheaper than the average rent for all rentals in Franklin Park.

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 Where to Stay in Austin: The Best Neighborhoods for Short-Term Rentals article

Where to Stay in Austin: The Best Neighborhoods for Short-Term Rentals

Written by: Raul Mercado

I’m Raul, your ApartmentHomeLiving.com local expert for Austin. After living in Austin for more than 10 years, I’ve seen firsthand how the short term rental scene has changed in the live music capital of the world.

decorative image for Keep Austin Affordable: A Renter's Guide to the Best Suburbs Around the City article

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

Written by: Raul Mercado

I’m Raul, your ApartmentHomeLiving.com local expert for Austin.

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

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

Written by: Raul Mercado

I’m Raul, your ApartmentHomeLiving.com local expert for Austin. I spend most of my time helping people understand what it actually costs to live in the music capital of Texas and where the best places to settle are.

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 Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.