(78701) Downtown Austin / Rainey Street / 2nd Street / Warehouse District Apartments

You’re Not Renting an Apartment Downtown. You’re Renting a Location.

Downtown Austin Apartments (78701) High-rises, lake trail, bar noise, and no grocery store. Studios from the low $1,300s. 24 communities built from 1983 to 2024.

I’ve toured apartment communities across the 78701 ZIP code multiple times for people relocating to the area and want to live in the center of it all. This is the most packed rental market in Austin. 24 communities, most of them high-rises, stacked between Lady Bird Lake and the Capitol. What you pay here isn’t about the apartment. It’s about which block you land on.

Every community in this ZIP code has a full review below. Each one covers what listing sites leave out: actual screening criteria, real fee breakdowns, net effective rent math, and honest resident feedback compared to what I saw on my own tours.

A few things worth knowing about 78701 before you dig in.

The block matters more than the building. Rainey Street is bars. Thursday through Saturday, you’ll hear them. If your bedroom faces Rainey, plan on it. East 6th is bachelor parties and college bars. West 6th is louder than people expect.

2nd Street and the communities up near 11th and 12th are the quieter end of downtown. Same ZIP, completely different Friday night.

There’s no real grocery store downtown. Whole Foods is over on Lamar but reasonably close for most people who live nearby. H-E-B is on East 7th in 78702. A lot of people use grocery delivery services like instacart or HEB delivery and some even make a weekly grocery run or order in everyday. It’s one of the first things renters mention after moving in.

Parking is a second rent payment. Most buildings charge $150 to $250 a month for a garage spot. If you work downtown and don’t need a car during the week, that math changes. But if you’re keeping a car, budget for it.

The Waterline is 74 stories and the tallest building in Texas. Right next to Rainey. The residential floors open fall 2026. ATX Tower is 58 floors. Hanover Republic Square is 45. 700 River is 43.

There are over a dozen high-rises here. Studios start in the low $1,300s at 3Waller and run past $2,700 at the Hanovers. If you want a view, you’ll pay for it. If you just want a downtown address, 3Waller, The Shoal, and Railyard Oasis are the lower end. Nothing is cheap, but the gap between the top and bottom is huge.

The south end of downtown drops you right onto the Butler Trail. The Pfluger Bridge gets you to Zilker and the south shore on foot. The Congress Avenue bridge bats come out at sunset from March through November. Locals watch from the south side to skip the tourist crowd.

Pick a community below to read the full review, or get in touch if you want me to narrow it down based on your budget, timeline, and screening situation.