Cheap Apartments for Rent in the Franklin Park Neighborhood of Austin, TX from $500 (104 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Franklin Park 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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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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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
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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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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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Avana SoCo
Rent Specials
$1,129 - $11,382
Total Monthly Price

Total Monthly Price

Base Rent
$1,129 - $11,382
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Avana SoCo

401 Little Texas LnAustin, TX 78745
Affordability
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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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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 2 Beds unit found at Eastern Oaks priced from $650. EKOS City Heights has the second lowest priced unit, which is a 1 Bed apartment currently listed from $674. Here are the most affordable Franklin Park apartments for rent in Austin, TX:

Apartment ListingModel NameBed/BathPriced From
Eastern Oaks2A2BR,2BA$650
EKOS City Heights1x11BR,1BA$674
Coppertree Apartment HomesCoventry1BR,1BA$699
Terrace CoveA11BR,1BA$779
Logans MillA1A The Madison1BR,1BA$793
Chevy Chase Downs1BR/1BA1BR,1BA$799
Sunrise BluffsStudioStudio,1BA$800
Carson Creek Duplexes2A2BR,2BA$800
Treehouse ApartmentsThe 408Studio,1BA$808
Grace WoodsA21BR,1BA$827

Best Value Apartments for Rent in Franklin Park, TX

As of July 03, 2026 the best value apartment in the Franklin Park area is the $1.19 price per square foot C1R Model at The Aspect in the in the Oltorf-East Riverside neighborhood starting from $1,644. The second greatest value Franklin Park apartment is the Three Bedroom (C3) Model at Woodway Village starting at $1,766 with a $1.35 price per square foot in the Southeast 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$1.19
Woodway VillageThree Bedroom (C3)3BR,2.5BA$1.35
Kingfisher CreekThree Bedroom Flat3BR,2BA$1.17
Stassney at SoCo2.2B2BR,2BA$1.12
Eastern Oaks2A2BR,2BA$0.84
Chevy Chase Downs2BR/1.5BA2BR,1.5BA$1.29
Spring Villas- Income RestrictedA11BR,1BA$1.26
Bridge at Canyon ViewA11BR,1BA$1.30
SoCo Park ApartmentsA1BR,1BA$1.28
Carson Creek Duplexes2A2BR,2BA$1.36

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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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
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

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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 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 $827.

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

The cheapest apartment in Franklin Park is EKOS City Heights which is listed at $674, while the average apartment in Franklin Park costs $1,869.

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 211 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 $575 which is $1,294 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

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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.

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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.

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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.

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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