Cheap Homes for Rent in Austin, TX from $500 (707 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

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Austin, TX Local Guide

Cheapest Neighborhoods for Apartments in Austin, TX

Pricing Updated: 04/08/2025

Current apartment rentals in the Austin, TX area range in price from $340 to $19,364 with an overall median price of $3,375. The three Austin neighborhoods with the lowest median rent pricing are Arboretum at $870, Riverside Meadows at $1,166, and Bryker Woods at $950. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Austin Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Arboretum$1,594$870248
Riverside Meadows$1,600$1,16626
Bryker Woods$1,650$95075
South Manchaca$1,650$750730
North Park$1,774$845147
Patal$1,804$845100
Riverside$1,810$560792
East Riverside Oltorf$1,822$560685
Nuckols Crossing$1,825$99421
Oltorf-East Riverside$1,830$560562

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. Vi Collina in the Oltorf-East Riverside neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $631. Here is today’s list of the most affordable Austin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Wildwood ApartmentsA11BR,1BA$600
Vi CollinaA11BR,1BA$631
Libertad AustinA11BR,1BA$632
The RhettA11BR,1BA$677
Chevy Chase Downs1BR/1BA1BR,1BA$699
The Brook Apartments1 Bedroom 1/1A1BR,1BA$700
Franklin ParkTwo Bedroom2BR,2BA$703
Mesh ApartmentsE1-Mesh IIIStudio,1BA$719
Magnolia FlatsStudioStudio,1BA$733
Park Plaza at Hyde Park1BR/1BA1BR,1BA$736

Best Value Apartments for Rent in Austin, TX

As of April 08, 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
HillTopFrio C3BR,2BA$0.99
Eryngo Hills3 Bedroom3BR,2BA$0.91
Parker Heights Apartments2BR/1.0BA2BR,1BA$1.07
Parker Lane ApartmentsTwo Bedroom2BR,2BA$0.75
8907 Parkfield Dr2 Beds, 1 Baths2BR,1BA$1.08
Legacy Ranch @ Dessau East 55+ CommunityPalomino1BR,1BA$0.95
The RhettA11BR,1BA$0.97
Libertad AustinA11BR,1BA$0.97

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Austin, TX Area Reviews

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Kevin • 4+ 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 2878 Apartments for Rent in Austin, TX with pricing that ranges from $450 to $19,364. There are also 3498 Single Family Homes for rent, Condos, and Townhome rentals currently available in Austin ranging from $500 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 $500 to $38,000 with an average monthly rent of $7,199.

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 $575 to $19,364, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,300 to $11,500. Four Bedroom Single-Family rentals are also available starting from $1,600 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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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.