Best Affordable Neighborhoods in Austin, TX
Some of the cheapest neighborhoods in Austin are Georgian Acres, Heritage Hills, and Walnut Crossing. These neighborhoods offer some of the lowest rent prices in Austin, making them ideal for renters on a budget. As of May 12, 2026, the average rent in Austin is $1,390, which is 3.8% lower than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Georgian Acres
Average Rent
$786/Month
Year-Over-Year Rent Change
15.5%
Units Available
457 Rentals
Georgian Acres is a top choice for budget-conscious renters for a variety of reasons. The average rent in Georgian Acres is $786 while the city average is $1,390. This is a -15.5% difference from last year. Residents enjoy convenient access to Beverly S. Sheffield Northwest District Park, Carillon Center, and Jourdan-Bachman Pioneer Farms.
Heritage Hills
Average Rent
$826/Month
Year-Over-Year Rent Change
5.6%
Units Available
482 Rentals
When you’re looking for a great Austin neighborhood on a budget, check out Heritage Hills. The average rent is $826, compared to the city average of $1,390. Rent prices have decreased by 5.6%. Heritage Hills is convenient to Elisabet Ney Museum, Austin C.C., Rio Grande Campus, and Rundberg Center.
Walnut Crossing
Average Rent
$937/Month
Units Available
60 Rentals
Walnut Crossing is an affordable neighborhood in Austin with an average rent price of $937. Compare this to the city average of $1,390. Walnut Crossing provides easy access to Great Hills Park, Concordia University Texas, and Millwood Center.
North Lamar
Average Rent
$963/Month
Year-Over-Year Rent Change
11.7%
Units Available
134 Rentals
If you’re looking for a great, affordable neighborhood in Austin, North Lamar might be the perfect place! It has an average rent price of $963, while the city’s average stands at $1,390. In the last year, prices have decreased by 11.7%. North Lamar is near The Stephen F. Austin Planetarium, Austin C.C., Eastview Campus, and Crestview Station.
Coronado Hills
Average Rent
$971/Month
Year-Over-Year Rent Change
20%
Units Available
83 Rentals
Coronado Hills is a top choice for budget-conscious renters for a variety of reasons. The average rent in Coronado Hills is $971 while the city average is $1,390. This is a -20% difference from last year. Residents enjoy convenient access to Thinkery, Austin C.C., Northridge Campus, and Kramer Station.
Parker Lane
Average Rent
$977/Month
Year-Over-Year Rent Change
9.6%
Units Available
314 Rentals
When you’re looking for a great Austin neighborhood on a budget, check out Parker Lane. The average rent is $977, compared to the city average of $1,390. Rent prices have decreased by 9.6%. Parker Lane is convenient to Austin C.C., Rio Grande Campus, Boggy Creek Greenbelt, and Austin-Bergstrom International.
South Manchaca
Average Rent
$994/Month
Year-Over-Year Rent Change
13.9%
Units Available
74 Rentals
South Manchaca is an affordable neighborhood in Austin with an average rent price of $994. Compare this to the city average of $1,390. In the past year, rent prices have decreased by 13.9%. South Manchaca provides easy access to Downtown Station, Highland Station, and Barton Creek Greenbelt (360 Access).
Gracy Woods
Average Rent
$1,002/Month
Year-Over-Year Rent Change
0.9%
Units Available
150 Rentals
If you’re looking for a great, affordable neighborhood in Austin, Gracy Woods might be the perfect place! It has an average rent price of $1,002, while the city’s average stands at $1,390. In the last year, prices have decreased by 0.9%. Gracy Woods is near Stonehollow Place, Copperfield Nature Trail and Park, and Walnut Creek Park.
Franklin Park
Average Rent
$1,006/Month
Year-Over-Year Rent Change
1.2%
Units Available
122 Rentals
Franklin Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Franklin Park is $1,006 while the city average is $1,390. This is a -1.2% difference from last year. Residents enjoy convenient access to Austin-Bergstrom International, Stassney Heights, and Austin C.C., Eastview Campus.
Northwest Hills
Average Rent
$1,025/Month
Year-Over-Year Rent Change
5.1%
Units Available
218 Rentals
When you’re looking for a great Austin neighborhood on a budget, check out Northwest Hills. The average rent is $1,025, compared to the city average of $1,390. Rent prices have decreased by 5.1%. Northwest Hills is convenient to Concordia University Texas, Chimney Corners Shopping Center, and Kramer Station.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.