With some of the most expensive rent in the country, a $1,500 rent budget in Austin won’t get you nearly as far as if you settled down in the Midwest, the South or a smaller Texas city.
According to a RentCafe study comparing how much apartment space $1,500 will get you in the top 100 cities, Austinites can reasonably find a 753-square foot apartment within city limits. Austin ranked 71 on the list with major California cities, New York City and Miami coming in more expensive per square foot.
Venturing to suburbs like Georgetown, Round Rock or Kyle, square footage per dollar is a different story.
So how much apartment space will $1,500 or less get you within Austin city limits? Austonia gathered listings from apartment locators Smart City Locating to curate this list.
$1,179-1,469 | The Violet | 409 East William Cannon Dr.
A $1,500 budget will get you pretty far at The Violet, with much more square footage than the city-wide average, and even more if you have an extra $100 to spare. Though there are smaller and cheaper options at the complex, $1,469 per month will get you an 847-square foot two-bedroom, one-bathroom unrenovated apartment with in-unit laundry and walk-in closets. Just an extra $40 monthly bumps the unit up to two bathrooms.
$1,343-1,500 | Griffis Southpark | 8515 S I-35 Frontage Rd.
If you’re prepared to sign on for a 15-month lease in Southpark Meadows, Griffis Park can get you a studio or larger-than-average one-bedroom. The best option to get the most bang for your buck is the Zilker II floor plan, a one-bedroom and one-bathroom, 868-square foot apartment that you can secure for $1,497.
$1,352 | Flats on San Felipe | 7920 San Felipe Blvd.
Four floor plans fall into the budget at the McNeil-central Flats on San Felipe, ranging from studio to single bedroom options. No matter which you choose, you’ll come in below the city-wide square footage average from 432-646 square feet.
$1,395 | Summit Hyde Park | 5200 N Lamar Blvd.
Coming in with the smallest area at 450 square feet, this one-bedroom, one-bathroom Hyde Park apartment is in a great location for the price. Signing for 15 months will get you the best price, several hundred dollars off per month. For an extra $28 monthly, a 645 square foot apartment enters the budget.
$1,185-1,400 | Monterey Ranch | 4701 Staggerbrush Rd.
A $1,500 budget will get you access to five floor plans at the Sunset Valley complex but the most floor space can be found in The Brodie Classic, with a modest 697 square feet. With one bedroom and one bathroom, the unit is pricier than some of its other counterparts but comes with in-unit laundry and a large balcony with outdoor storage.
$1,417 | Highline | 13201 Legendary Dr.
You won’t find an apartment for less than $1,500 at Highline but with one month free prorated across the whole year, you can live in either The Carnegie or The Chrylser floor plan. The McNeil-area apartments are on the small side, ranging from 668-750 square feet, but come with in-unit laundry and large balconies to enjoy.
$1,410-1,475 | Bell Southpark | 10300 S I-35 Frontage Rd.
This Southpark Meadows complex, located far south with easy access to I-35, has several floor plans that fit the budget. Ranging from 587-672 square feet, Bell Southpark’s apartments fall below the average size but if you’re willing to shell out an extra $35, you can land a unit at 768 square feet.
$1,445-1,475 | Agave South Congress | 625 E. Stassney Ln.
Located far on South Congress, Agave’s A1 and A2 units fit the budget and can get you the space you need. From 700-789 square feet, the one-bedroom, one-bathroom apartments fall right around the average, but an extra $70 monthly brings the space up to 898 square feet. Agave is currently offering $500 off the first month of rent!
$1,485 | Henley Riverside | 6107 E Riverside Dr.
Centrally located along East Riverside, Henley has only one floor plan that fits the budget and it’s one of the smallest on the list but closest to Central Austin. With one bedroom, one bathroom and in-unit laundry, the complex is currently offering $500 off the first month of rent at this 591 square foot apartment.
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So you want to buy a house?
To anyone trying to get on the "housing ladder," it's been a discouraging couple of years as prices skyrocketed in a market crowded with buyers bidding against each other for just about any available home.
Things may be calming down, with the Austin Board of REALTORS reporting fewer sales and more available homes this summer.
Mortgage rates have more than doubled in the last year, from around 3% to well over 6% on a 30-year fixed rate loan, getting even more of a bump this week after the Federal Reserve raised bank rates on Wednesday.
So how affordable are homes right now? That, of course, depends on what you want and how much you're able or willing to pay, but here are some rough estimates of what a typical buyer would pay to buy a $650,000 home, which would be considered "mid-price" in today's market.
Mortgage banker Chris Holland (NMLS 211033) of Austin's Sente Mortgage ran some numbers for Austonia to illustrate a typical purchase.
Holland says that while the 30-year fixed rate mortgage is often mentioned in the media, the most popular loan that he's seeing now is a 7/1 adjustable rate mortgage, which has a fixed rate for 7 years and then adjusts every year based on market rates, with a limit on how much it can increase each year. The interest is amortized over a 30-year period. Adjustable Rate Mortgages (ARMs) offer lower rates than fixed rate loans.
Here are the numbers, which are examples. In practice, exact numbers vary with a buyer's credit rating and overall financial situation, and with the rate, which can move up or down at any time.
- $650,000 home purchase price
- 7/1 ARM at 5.875%
- 5% down payment, equals $32,500
- 95% financed, equals $617,500
- $4,990 payment, including principle and interest (P&I), insurance, and property tax
- Typically, a borrower's debt to income ratio needs to be at or below 45%. So for this mortgage, a borrower, or borrowers, would need income of roughly $11,100/month, or $133,200/year. That number could be higher, depending on the buyer's outstanding credit balances on things like credit cards and car loans.
Holland says he's had a lot of clients approved for loans who were house hunting but have put that on hold, hoping prices come down.
Camp Fimfo Waco, a brand new camping resort, is kicking off football and fall camping season in style! With top-notch amenities, premium accommodations, and 10 weekends of fall fun, there’s no better place to have a fall camping getaway, especially if you’re a Baylor football fan!
Fall promises to be a one-of-a-kind camping experience. From Sept. 16 to Nov. 24, weekends will be packed with fall-themed activities, including special Halloween weekends in October. Campers can enjoy activities like fall crafts, campground trick-or-treating, costume contests, site decorating, outdoor movie nights, and more!
Packages and Ways to Stay
Camp Fimfo Waco
Located just 5 miles from McLane Stadium, Camp Fimfo Waco is the perfect place to stay during home game weekends. Skip the stuffy hotel room and embrace the great outdoors before cheering on the Baylor Bears! Campers can purchase a Baylor Tailgating Package that includes a pre-game meal from Executive Chef Sean Kelley and transportation to and from the game! Chef Kelley will also be cooking up delicious, elevated tailgating meals near the stadium so make sure to check out The Plaid Plate food truck before the game.
Stay in style and comfort, no matter your camping preference! At Camp Fimfo Waco, there are multiple ways to stay. Red Carpet RV sites come with a concrete pad and patio, full hook-ups, cable hook-up, a charcoal grill, fire ring and fire pit. Back-in or pull-thru options are available, as well as coveted spots tucked along the Bosque River!
Don’t have an RV? Not a problem, Camp Fimfo Waco has cabins too! Book a Riverview Firewheel Cabin if you’re looking for an air-conditioned oasis for the whole family. Complete with a kitchen and private bathroom, this cabin can fit up to 10 people. Elevate your stay by adding on a golf cart or snag a private cabana by the pool for guaranteed shade. With wifi available throughout the park, you can stay connected during your stay!
Amenities and Activities
Camp Fimfo Waco
Camp Fimfo Waco features lots of amenities to fill your days with fun, whether you’re a kid or kid at heart. After challenging your friends to a game of pickleball, basketball, or mini golf, go for a dip in the resort-style, heated pool - open daily through October! Stay on the weekends through October to enjoy the interactive splash playground. With plenty of ways to burn off energy, like the jumping pillow or playground, you can be sure to end the day with a peaceful night around the campfire!
Right now, you can get the fourth night FREE when you book three nights with the promo code BONUS! Check out the Offers page for full details and more promo codes!