Cheap Homes for Rent in Austin, TX from $500 (757 Rentals)

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Austin's Best Affordable Neighborhoods

Learn about Austin and the best places to live with original content written by our Austin, TX Local Expert Raul Mercado

Austin, TX Local Guide

Cheapest Neighborhoods for Apartments in Austin, TX

Pricing Updated: 04/30/2025

Current apartment rentals in the Austin, TX area range in price from $360 to $19,369 with an overall median price of $3,566. The three Austin neighborhoods with the lowest median rent pricing are Riverside Meadows at $1,166, Colorado Crossing at $999, and Arboretum at $875. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Austin Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Riverside Meadows$1,625$1,16620
Colorado Crossing$1,725$999192
Arboretum$1,750$875241
Pleasant Valley$1,769$525469
Riverside$1,773$525790
North Park$1,774$825114
Bryker Woods$1,779$95036
Patal$1,779$82584
East Riverside Oltorf$1,787$525695
Oltorf-East Riverside$1,789$525569

Cheapest Available Austin Apartments for Rent

 

The cheapest available apartment rental in Austin, TX is a 1 Bed unit found at Wildwood Apartments in the Coronado Hills neighborhood priced from $600. Copperline at Village Oaks in the Northwest Austin neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $651. Here is today’s list of the most affordable Austin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Wildwood ApartmentsA11BR,1BA$600
Copperline at Village OaksS6Studio,1BA$651
Heritage Estates at Wells BranchA3-40%/30%1BR,1BA$656
The RhettA11BR,1BA$677
Chevy Chase Downs1BR/1BA1BR,1BA$699
Mesh ApartmentsE1-Mesh IIIStudio,1BA$719
Aspire at Onion CreekB22BR,2BA$721
Westdale ParkePlan A11BR,1BA$744
Forest Creek Apartments1 Bedroom A21BR,1BA$750
Heritage Pointe1x1 40%1BR,1BA$750

Best Value Apartments for Rent in Austin, TX

As of April 30, 2025 the best value apartment in the Austin area is the $0.81 price per square foot 6 Bed, 6 Bath Plus Model at Yugo Austin Waterloo in the in the Central East Austin neighborhood starting from $1,369. The second greatest value Austin apartment is the 4 Bed, 4 Bath Deluxe Model at Yugo Austin Rio starting at $1,399 with a $0.88 price per square foot in the Central East Austin neighborhood. Here is today’s list of the best values for Austin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Yugo Austin Waterloo6 Bed, 6 Bath Plus6BR,6BA$0.81
Yugo Austin Rio4 Bed, 4 Bath Deluxe4BR,4BA$0.88
Anderson Flats2 Bed 1 Bath2BR,1BA$0.77
Point North Student LivingD14BR,4BA$0.94
HillTopFrio C3BR,2BA$0.99
The Studio at ThinkEastTwo Bedroom / Two bath2BR,2BA$1.04
Venue on GuadalupeB3A2BR,2BA$1.06
Parker Lane ApartmentsTwo Bedroom2BR,2BA$0.75
Legacy Ranch @ Dessau East 55+ CommunityPalomino1BR,1BA$0.95
The RhettA11BR,1BA$0.97

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Austin, TX Area Reviews

  • Parks
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  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Steve4+ years in Austin

April 3, 2025

Alright, so Austin, man. Steve here, early 30s, and let me tell you, this place is alive. If you're into killer food – and I mean, everything from legit BBQ to some seriously inventive fusion spots – and a nightlife scene that just doesn't quit, you'll fit right in.

Mary1+ years in Austin

April 3, 2025

I like the northside of town best. But Downtown is fun. Lots of outdoor stuff to do

Kevin4+ years in Austin

March 25, 2025

Happy, vibrant, busy, lots of traffic, great restaurants. Liberal.

Frequently Asked Questions about Austin

What type of rentals are currently available in Austin?

There are currently 2919 Apartments for Rent in Austin, TX with pricing that ranges from $470 to $19,369. There are also 3692 Single Family Homes for rent, Condos, and Townhome rentals currently available in Austin ranging from $549 to $38,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Austin ranges from $549 to $38,000 with an average monthly rent of $7,057.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Austin range from $650 to $19,369, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,350 to $16,500. Four Bedroom Single-Family rentals are also available starting from $800 and Four Bedroom Apartments start at $560.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.