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Cheap Apartments in Austin, TX

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Cheap Apartments in Austin, TX

Search and browse 8545 cheap (under $400) apartments available for rent in Austin, TX. With apartments that span the entire city, you will find an apartment in Austin for just the right price. During your search, sort your favorite cheap (under $400) apartments by one of our listed amenities — covered parking, in-unit washer and dryer, a rooftop pool, a modern fitness center, an updated kitchen, energy efficient appliances, smart technology, online leasing, payments, and more. Want to tour a property? Schedule a tour online and you’ll be moving in to your new Austin apartment before you know it.

April Rent Report

Welcome to the April 2021 Austin Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the April 2021 key findings and figures for the Austin rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Austin and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Austin rent prices in the chart below.

Monthly Rent Report

Austin Rent Prices Decrease From March to April

Austin rent prices decreased over the last month. From March to April, the city experienced a -0.55% decrease for the price of a one-bedroom apartment. The rent price for a Austin one-bedroom apartments currently stands at $1,262.0.

When we take a look at the two-bedroom comparison from March to April, Austin experienced a 0.06% increase for the price of a two-bedroom apartment. The rent price for a Austin two-bedroom apartments currently stands at $1,569.0.

April Prices: Austin vs. Surrounding Areas

Rent Prices in Austin and Surrounding Areas

Rent prices have decreased in Austin over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 2 of the Austin suburbs increased last month. On the other hand, 5 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Cedar Park, TX, Georgetown, TX .

  • Rent decreased in Round Rock, TX, San Marcos, TX, Pflugerville, TX, Leander, TX, Kyle, TX.

  • 7 suburbs are currently priced lower than the city of Austin.

April 2021 Pricing Trends: Austin vs. National Comparisons

Austin Rent Prices More Affordable Than Major Cities

Rent growth in Austin over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Austin rent prices appear to be relatively affordable for local residents.

The price for a Austin one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of Rentable's April 2021 National Apartment Report and data set here.

For more information about Austin and surrounding area rent prices, take a look at the complete data set below.

Data set for Austin and suburbs

1 BR April 1 BR M/M % Change 2 BR April 2 BR M/M % Change
Austin, TX $1,269.0 -0.16% $1,568.0 0.38%
Round Rock, TX $1,082.0 -0.28% $1,355.0 0.22%
San Marcos, TX $1,011.0 0.00% $1,145.0 1.15%
Cedar Park, TX $1,185.0 1.28% $1,505.0 1.62%
Pflugerville, TX $1,107.0 -0.27% $1,401.0 0.86%
Georgetown, TX $1,195.0 3.55% $1,427.0 0.35%
Leander, TX $1,241.0 -1.35% $1,597.0 -0.81%
Kyle, TX $1,100.0 -0.45% $1,410.0 -1.05%


Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.