Cheap Apartments for Rent in the Milwood Neighborhood of Austin, TX from $500 (139 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Milwood 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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Milo
Rent Specials
$859 - $5,398
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$859 - $5,398
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Studio to 2 Bedroom Apartments Available Now

Milo

3220 Duval RdAustin, TX 78759
Affordability
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  • 3D Tour
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Twenty15
Rent Specials
$897 - $1,477
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$897 - $1,477
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1 to 2 Bedroom Apartments Available Now

Twenty15

2015 Cedar Bend DrAustin, TX 78758
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour

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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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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Twelve100
$1,009 - $1,971
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Total Monthly Price

Base Rent
$1,009 - $1,971
Total Monthly Price
$1,009 - $1,971
1 to 3 Bedroom Apartments Available Now

Twelve100

12100 Metric BlvdAustin, TX 78758
Student Housing
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  • 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.

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Milwood, Austin, TX Local Guide

Cheapest Available Milwood Apartments for Rent

 

The cheapest available apartment rental in the Milwood area of Austin, TX is a 1 Bed unit found at Keystone priced from $585. Trails of Walnut Creek has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Milwood apartments for rent in Austin, TX:

Apartment ListingModel NameBed/BathPriced From
Keystone1A1BR,1BA$585
Trails of Walnut Creek1 Bedroom 1 Bathroom A-21BR,1BA$700
Wind River Crossingxwra11BR,1BA$761
Village OaksValley1BR,1BA$780
Canyon CreekBull Creek1BR,1BA$805
Great HillsThe Zilker1BR,1BA$850
MiloA11BR,1BA$859
High OaksPoppy1BR,1BA$895
Twenty15A11BR,1BA$897
MAA Balcones WoodsAustin1BR,1BA$901

Best Value Apartments for Rent in Milwood, TX

As of July 06, 2026 the best value apartment in the Milwood area is the $1.51 price per square foot Havencrest (B3T) Model at Residences at the Domain in the in the Milwood neighborhood starting from $2,598. The second greatest value Milwood apartment is the The Brentwood Deluxe Model at Northland at the Arboretum starting at $1,265 with a $1.32 price per square foot in the Milwood neighborhood. Here is today’s list of the best values for Milwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Residences at the DomainHavencrest (B3T)2BR,3BA$1.51
Northland at the ArboretumThe Brentwood Deluxe2BR,2BA$1.32
Keystone2A2BR,2BA$1.36
Park at Summers Grove29-1/1b1BR,1BA$1.39
The WaymanA21BR,1BA$1.41
The Olivine1B1B1BR,1BA$1.32
Arbor Park Senior Apartments - 55+A1- 60% & HM/HH801BR,1BA$1.47
Trails of Walnut Creek1 Bedroom 1 Bathroom A-21BR,1BA$1.22
Canyon CreekBull Creek1BR,1BA$1.45
Village OaksValley1BR,1BA$1.54

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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Lifestyle Ratings

This website is proud to bring you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, metropolitan areas, and rental properties across Texas and customized analysis for Austin, Texas. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, pet-friendly features, family-friendly amenities, proximity to transit, and other valuable search options. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Milwood Apartments

What is a cheap apartment in Milwood?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Milwood is under $901.

What is the price of a cheap apartment in Milwood?

The cheapest apartment in Milwood is Keystone which is listed at $585, while the average apartment in Milwood costs $1,952.

What types of apartments are the cheapest in Milwood?

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 72 regular apartments in Milwood 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 Milwood?

Cheap apartments in Milwood have an average cost of $163 which is $1,789 cheaper than the average rent for all rentals in Milwood.

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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