Cheap Homes for Rent in Central Austin Neighborhood of Austin, TX from $500 (96 Rentals)

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Search the lowest-cost Homes available for rent right now in the Central Austin area of Austin.

property at 2800 Cole St

$825 - $975

1 Bedroom Rentals

Available Now

2800 Cole St

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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property at 3503 Harmon Ave

$1,000

Studio, 1 Bath Condo for Rent

Available Now

3503 Harmon Ave

AustinTX78705

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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property at 1011 W 23rd St

$1,000

1 Bedroom Rentals

Available Jan 7, 2026

1011 W 23rd St

AustinTX78705
property at 2413 Leon St

$1,000 - $1,650

2 Bedroom Rentals

Available Now

2413 Leon St

AustinTX78705
property at 2704 San Pedro St

$1,050 - $1,900

Studio To 2 Bedroom Rentals

Available Now

2704 San Pedro St

AustinTX78705

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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property at 712 Graham Pl

$1,095 - $1,795

1 To 2 Bedroom Rentals

Available Now

712 Graham Pl

AustinTX78705
property at 3506 Speedway

$1,000 - $2,800

1 To 4 Bedroom Rentals

Available Now

3506 Speedway

AustinTX78705
property at 4010 Speedway

$1,100

1 Bedroom, 1 Bath Condo for Rent

Available Now

4010 Speedway

AustinTX78751
property at 910 Duncan Ln

$1,000 - $1,985

1 To 2 Bedroom Rentals

Available Now

910 Duncan Ln

AustinTX78705

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Central Austin, Austin, TX Local Guide

Cheapest Available Central Austin Apartments for Rent

 

The cheapest available apartment rental in the Central Austin area of Austin, TX is a 1 Bed unit found at San Gabriel Square Apartments priced from $649. La Casita has the second lowest priced unit, which is a 2 Beds apartment currently listed from $799. Here are the most affordable Central Austin apartments for rent in Austin, TX:

Apartment ListingModel NameBed/BathPriced From
San Gabriel Square ApartmentsLarge 1BR/1BA1BR,1BA$649
La CasitaREMODELED 2x12BR,1BA$799
Pease Parkside ApartmentsB11BR,1BA$800
Marian Condos2x22BR,2BA$800
Azulina Gardens1/11BR,1BA$824
Miller Square & Spanish TrailsE1 - Designer - Miller SquareStudio,1BA$830
Casa MarfilStudioStudio,1BA$831
Pinnacle 31EfficiencyStudio,1BA$875
Plaza Sonora1/11BR,1BA$888

Best Value Apartments for Rent in Central Austin, TX

As of December 24, 2025 the best value apartment in the Central Austin area is the $0.50 price per square foot D5TH-SHARED Model at Villas on Rio in the in the Central East Austin neighborhood starting from $1,099. The second greatest value Central Austin apartment is the 4 Bed, 2 Bath Classic Model at Yugo Austin Nueces starting at $1,229 with a $0.91 price per square foot in the Central East Austin neighborhood. Here is today’s list of the best values for Central Austin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Villas on RioD5TH-SHARED4BR,4BA$0.50
Yugo Austin Nueces4 Bed, 2 Bath Classic4BR,2BA$0.91
Union on San AntonioD1 - Trinity4BR,4BA$1.16
24 Longview4x24BR,2BA$0.49
Yugo Austin Corner2 Bed, 1 Bath Deluxe2BR,1BA$1.31
21 Pearl2 Bed x 1 Bath2BR,1BA$1.47
Point NorthB12BR,2BA$1.13
Casa Del Rio ApartmentsB12BR,1BA$1.19
La CasitaREMODELED 2x12BR,1BA$1.02
San Gabriel Square Apartments1BR/1BA Renovated1BR,1BA$1.32

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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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
Central Austin, Austin, TX

Ranked #41

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Central Austin

What type of rentals are currently available in Central Austin?

There are currently 465 Apartments for Rent in Central Austin, TX with pricing that ranges from $489 to $18,995. There are also 332 Single Family Homes for rent, Condos, and Townhome rentals currently available in Central Austin ranging from $500 to $18,000.

What is the current price range for Rental Homes in Central Austin?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Central Austin ranges from $500 to $18,000 with an average monthly rent of $7,137.

How much are larger Three and Four Bedroom Rentals in Central Austin?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Central Austin range from $674 to $6,659, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,595 to $5,500. Four Bedroom Single-Family rentals are also available starting from $650 and Four Bedroom Apartments start at $489.

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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The 10 Best Affordable Neighborhoods in Austin, TX

Written by: Raul Mercado

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

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Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Austin

Written by: Raul Mercado

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

Written by: Raul Mercado

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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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

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.