Oak Springs Villas: $331/Month Senior Housing in Austin’s 78702 (2026) For Rent

The market rate for a one bedroom in 78702 sits between $1,200 and $2,500 a month right now. Oak Springs Villas rents for $331. That’s not a typo. It’s a HUD Section 202 property, which means federal rent subsidies for seniors 62 and older who earn below roughly $47,050 a year. As a licensed Texas real estate agent (License #679806) who tracks Austin apartment pricing across 1,000+ properties, I can tell you that most listing sites either get this property completely wrong or ignore it entirely. One senior living site lists the rent at $3,609 a month. That number has nothing to do with reality. Others just post the address and call it a day.

Here’s what no listing site tells you: how the rent actually works, who qualifies, what the realistic timeline looks like to get in, and whether this 55 unit community in East Austin’s Govalle neighborhood is worth the wait.

Quick Facts

Zero reviews across every platform for a property that’s been open since 2003. That’s unusual. But it makes sense when you consider what this place is: 55 subsidized units for seniors. The people living here aren’t leaving Yelp reviews. They’re on fixed incomes in a zip code where the median rent has nearly doubled since they moved in.

Best For

You’re a senior on a fixed income who wants to stay in central East Austin. Rents in 78702 have pushed past $1,500 for a one bedroom. Ten years ago that wasn’t the case. Oak Springs Villas lets you live in this area for roughly $300 to $400 a month depending on your income. That’s Social Security check territory. For seniors who’ve watched everything around them get more expensive, this is one of the few options that keeps you in the neighborhood.

You rely on public transit. CapMetro Route 2 (Rosewood/Cesar Chavez) is a high frequency bus line that starts at Oak Springs and Springdale, right at the property’s front door. It runs through downtown past the Capitol and Republic Square every 15 to 30 minutes. If you don’t have a car, that direct downtown connection is hard to replicate anywhere else at this price.

You want minimal move in costs. Zero application fee. Zero admin fee. The only upfront pet cost is a $300 deposit if you have a small dog or cat. At a typical Austin apartment, application and admin fees alone run $200 to $425 combined before you even get to the security deposit.

Skip If

You’re under 62. Full stop. This is a modern Section 202 property (built after 1990), so the age cutoff is firm. Older Section 202 communities sometimes allow younger people with disabilities. This one doesn’t.

Your income exceeds 50% of Area Median Income. For the Austin metro in 2026, that’s roughly $47,050 a year for a single person household. Earn more than that, and you don’t qualify regardless of age.

You need to move soon. At 99% occupancy with only 55 units, there’s a waitlist. AffordableHousingOnline forecasts it as “Likely Long or Closed.” This is not a place where you apply today and move in next month.

You have a pet over 30 pounds. The weight limit is firm. One pet maximum. Breed restrictions apply.

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Location Deep Dive

What’s Actually Nearby

Oak Springs Villas sits in the Govalle neighborhood of East Austin, about two miles east of downtown. The property is on Oak Springs Drive just west of Airport Boulevard, tucked into a residential stretch that’s quieter than the bar and restaurant corridors a few blocks south.

For a senior living here, the practical stuff matters more than the restaurant scene. Austin Public Library’s Willie Mae Kirk Branch is next door at 3101 Oak Springs Dr. Eastland Plaza shopping center is about 0.3 miles away. H-E-B on East 7th Street (2701 E 7th) is roughly a mile west and has a pharmacy inside. Walgreens at 1144 Airport Boulevard is about half a mile south. St. David’s Medical Center is about 2 miles away. Dell Children’s Medical Center is 2.5 miles.

A bus stop sits right next to the property. For residents who don’t drive, that’s the difference between independence and isolation.

Commute Math

Since this is a senior community, “commute” means something different here. These are the distances to places that matter for daily life.

Neighborhood Reality

Govalle doesn’t look like it did five years ago. The name comes from the Swedish word for “good grazing,” and it started as cattle ranch land in the 1800s. Today, the blocks around Oak Springs Villas are a mix of older single family homes, new construction, and commercial properties along Airport Boulevard. Boggy Creek Greenbelt runs through the heart of the neighborhood with walking paths along the creek.

Here’s the picture: brand new apartment buildings like Nova Austin (delivering in 2026) and The Goodwin (2025) are going up within half a mile, renting one bedrooms for $1,450 to $2,995. The new construction pipeline in East Austin has been massive. Oak Springs Villas sits in the middle of all that change at a fraction of the price. You’ll hear construction noise and typical city sounds. It’s walkable for errands, but this isn’t a gated suburb.

Pricing and True Cost

How Rent Actually Works Here

Most people don’t understand this about Oak Springs Villas. The rent isn’t fixed. It’s a HUD Section 202 property, which means your rent is calculated as 30% of your adjusted monthly income.

In real numbers, that looks like this.

Example 1: Social Security income of $1,400/month

• Gross annual income: $16,800
• Minus elderly household deduction: $550
• Adjusted annual income: $16,250
• Monthly adjusted income: $1,354
• Rent (30%): approximately $406/month

Example 2: Social Security income of $900/month

• Gross annual income: $10,800
• Minus elderly household deduction: $550
• Adjusted annual income: $10,250
• Monthly adjusted income: $854
• Rent (30%): approximately $256/month

The $331 figure on listing sites is an average, not a fixed number. Your actual rent depends entirely on your income. And there are deductions that can lower it further. If your unreimbursed medical expenses exceed 3% of your annual gross income, the amount above that threshold gets subtracted before rent is calculated. Prescription costs, dental work, supplemental insurance premiums. For seniors with significant medical expenses, this can knock $30 to $80 off monthly rent.

Floor Plan

One floor plan. Every unit is a one bedroom, one bathroom at approximately 520 square feet. Walk in closet, patio, walk in shower, ceiling fans.

The property management listing says “fullsize connection” for washer/dryer, meaning you’d bring your own machines. But a separate listing on HousingApartments.org says units come with actual washers and dryers. Worth confirming with the leasing office at (512) 928-2015 before you plan around buying appliances.

Fee Breakdown

Gas and trash are included according to the property management listing. HousingApartments.org also lists water as property paid. If water is covered, your only utility cost is electricity. Ask when you call.

At a typical Austin apartment, application and admin fees alone run $200 to $425 combined. Here, both are zero. And no monthly pet rent either. Most properties charge $25 to $75 per month on top of the deposit.

True Monthly Cost Scenario

For a senior receiving $1,200 per month in Social Security:

• Rent (30% of adjusted income): approximately $346
• Electricity: $60 to $100 (estimated for 520 sq ft)
• Water/sewer: $30 to $50 (estimated, if not included by property)
• Total monthly housing cost: approximately $436 to $496

If water is property paid (as one source suggests), that drops to roughly $406 to $446.

Compare that to the market rate apartments within half a mile, where a one bedroom starts at $1,200 to $1,450 before utilities and fees. The gap is over $800 per month.

Looking for Current Availability and Waitlist Info?

Subsidized properties don’t post live availability the way market rate buildings do. I can help check the current status and, if Oak Springs Villas doesn’t work out, point you toward other affordable senior housing in the Austin area.

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Eligibility and Screening

Screening at a Section 202 property works nothing like a standard Austin apartment. No credit score minimum is published anywhere. Income verification follows HUD rules instead of the “3x rent” formula you’ll see at every other building in this zip code.

Who Qualifies

Three requirements. All three are firm.

1. Age 62 or older at the time of application
2. Household income at or below 50% of Area Median Income. For the Austin metro in 2026, that’s approximately $47,050 per year for a one person household. HUD updates these limits every year.
3. Able to live independently. Needing some help with daily tasks doesn’t disqualify you, as long as supportive services can fill in where needed. But this is independent living, not assisted living.

You’ll also need to be a U.S. citizen or eligible noncitizen. HUD requires that for all federally subsidized housing.

Income Verification

The property manager handles screening, not HUD directly. You’ll need to provide:

• Current benefit statements (Social Security, pension, disability)
• Bank account records
• Any additional income sources

Every year after you move in, the property recertifies your income, assets, and household composition to recalculate your rent. You can’t skip it. If your income changes during the year, your rent adjusts too.

What Could Get You Denied

Let me be direct about what gets you denied at a Section 202 property:

• Rental history showing prior evictions or lease violations
• Criminal background (specifics vary by property)
• Outstanding debt to a previous HUD assisted property
• Failing to provide required documentation
• Income exceeding the 50% AMI cap

If you’re denied, the property must notify you in writing within five business days. You have the right to request a meeting to dispute the decision. If you believe the denial was discriminatory, you can file a complaint with HUD’s Office of Fair Housing and Equal Opportunity.

Credit and Background: What I Know

Oak Springs Villas doesn’t publish a credit score minimum. That’s common for Section 202 properties. They tend to weigh rental history and income eligibility more heavily than a credit number. But don’t assume “no published minimum” means “no screening.” Volunteers of America still runs background checks.

If you have concerns about your screening profile, call the leasing office at (512) 928-2015 and ask what their criteria look like. Better to find out before you invest time in the application.

What to Watch For

Zero reviews on Google, Yelp, ApartmentRatings, or any other platform. I checked all of them. So I can’t tell you what residents think about living here. What I can do is flag the things I’d want answered based on the property’s age, its management, and patterns I see at similar communities.

Building Age and Condition

Built in 2003. Twenty three years old with no documented renovations. That’s not old by Austin standards (plenty of 1970s buildings are still renting), but it’s old enough that original appliances, HVAC systems, and plumbing may be wearing down. Two story construction with elevators is good for accessibility.

Ask about capital improvements when you tour. Has the roof been replaced? Are the HVAC units original? What about the water heaters? These questions tell you more about the next five years of living there than any amenity list.

Management Track Record

Volunteers of America Texas is a large nonprofit that manages over 40 housing communities across Texas. That scale cuts both ways. It’s an established organization with institutional backing, not a solo landlord who might defer maintenance. But nonprofit budgets can be tight, and tight budgets mean slow repairs. VOA’s mission focuses on seniors, veterans, and people with disabilities, which aligns with the population here. I’d still ask about maintenance response times when you call.

The 55 Unit Factor

Fifty five units. Ninety nine percent occupied. Everyone knows everyone. That can be a positive (quieter, more personal) or a negative (less anonymity, slower turnover).

The amenity picture depends on which source you trust. The property management listing shows a basic package: clubhouse, business center, access gates, elevators. But HousingApartments.org describes something much fuller: craft room, fitness center, game room, library, theatre room, furnished courtyard with a grill, community garden, bark park, cable and Wi-Fi, 24 hour emergency maintenance, and scheduled resident activities.

If that expanded list is accurate, this is a much more complete community than the basic listing suggests. The gap between those two lists probably means one of them is outdated. Ask about the current amenity package when you call.

Waitlist Realities

At 99% occupancy, maybe one unit turns over every few months. AffordableHousingOnline forecasts the waitlist as “Likely Long or Closed” based on the Section 202 designation and rental assistance subsidy. Waitlists at these properties in desirable locations can stretch months or years. Call the leasing office. Ask whether the list is open, how many people are on it, and what the average wait has been recently.

The Uncomfortable Truth

No listing site will write this section.

This Property Doesn’t Pay Locators

I’ll say it plainly: Oak Springs Villas pays $0 in referral commissions. Most apartment locators won’t mention this property because there’s no financial incentive to do so. I’m including it because it exists, people search for it, and the information online is either wrong or useless. If you’re working with a locator and they skip this property, now you know why.

You Probably Can’t Move Here When You Want To

The biggest gap between expectation and reality at Oak Springs Villas is timing. A 99% occupied, 55 unit community doesn’t have the turnover to accommodate everyone who qualifies. If you need housing in the next 30 to 60 days, this property can’t help you. Section 202 applications require income verification, background screening, and then you’re likely sitting on a waitlist. Start the process early.

Your Rent Will Change Every Year

The 30% formula sounds great until you realize it recalculates annually. If your income goes up (a pension increase, a new part time job, Social Security cost of living adjustments), your rent goes up too. And if you fail to complete annual recertification paperwork on time, that’s a lease violation. HUD takes this seriously. Set a calendar reminder, keep your documentation current, and don’t miss deadlines.

Want to Know What Other Senior Housing Options Exist in Austin?

If Oak Springs Villas doesn’t fit your timeline, I can help you find alternatives. There are over 200 affordable housing properties in the Austin area, and not all of them have the same waitlist pressure.

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Frequently Asked Questions

Is Oak Springs Villas income restricted?

Yes. It’s a HUD Section 202 property. Your household income must be at or below 50% of the Area Median Income for the Austin metro, which is approximately $47,050 per year for a single person in 2026.

How much is rent at Oak Springs Villas?

Rent is 30% of your adjusted monthly income, not a fixed number. The $331 figure on listing sites is an average. Your actual rent could be higher or lower depending on your income and eligible deductions.

What is the age requirement?

62 or older. This is a modern Section 202 property (built after 1990), so the age cutoff is firm. Younger people with disabilities don’t qualify at this location.

Does Oak Springs Villas have a waitlist?

The property reports 99% occupancy across 55 units. AffordableHousingOnline forecasts the waitlist as “Likely Long or Closed” based on the property’s Section 202 designation. Call (512) 928-2015 to confirm whether the waitlist is currently accepting new applicants.

Are pets allowed at Oak Springs Villas?

The property management listing says yes: one pet maximum, 30 pound weight limit, breed restrictions apply, $300 deposit, no monthly pet rent. But two senior living directories (After55 and ElderLife Financial) list this property as “No Pets Allowed.” If you have a pet or plan to get one, confirm the current policy directly with the leasing office at (512) 928-2015 before applying.

Who manages Oak Springs Villas?

Volunteers of America Texas, a faith based nonprofit that manages over 40 housing communities across Texas. They focus on affordable housing for seniors, veterans, and individuals with disabilities.

Does Oak Springs Villas have in unit laundry?

The property management listing says fullsize washer/dryer connections (you bring your own machines). A separate source says units come with actual washers and dryers. Confirm with the leasing office which is current.

What utilities does the property cover?

Gas and trash are included per the property management listing. One source also lists water as covered. Confirm which utilities are included when you call the leasing office.

How do I apply?

Contact the leasing office directly at (512) 928-2015. Office hours are Monday through Friday, 8 AM to 5 PM. Closed on weekends. Ask about current availability and the application process. There’s no application fee.

The Bottom Line

Oak Springs Villas is a 55 unit HUD subsidized senior community in one of Austin’s most expensive zip codes. The rent math is hard to argue with. $300 to $400 a month in a neighborhood where market rate one bedrooms start at $1,200. Zero application fee. Zero admin fee. Zero monthly pet rent. A public library next door and a bus stop right outside.

The trade off is getting in. At 99% occupancy, you’re almost certainly looking at a waitlist. And even if the amenities turn out to be more complete than the basic listing suggests, this is still a small subsidized community. Not a resort. But for a senior on a fixed income who wants to stay in East Austin? The math speaks for itself.

This property makes sense if: you’re 62 or older, your income falls below the 50% AMI threshold, you want to live in East Austin near transit and medical facilities, and you can plan ahead for a waitlist.

This property doesn’t make sense if: you’re under 62, you earn above the income cap, you need to move immediately, you need more than one bedroom, or you have a pet over 30 pounds.

If you qualify and the timeline works, get your name on the list.

Need Help?

Want help finding the right fit? My apartment locating service is free. I’m paid by the communities I work with, not by you. If Oak Springs Villas fits your situation, I can help you understand the application process and check on availability. If it doesn’t, I track pricing and availability across 1,000+ Austin properties, including other affordable and income restricted options across the city.

Going solo? Call the Oak Springs Villas leasing office directly at (512) 928-2015, Monday through Friday, 8 AM to 5 PM. Just tell them “Ross Quade from Austin Apartment Team” referred you on your tour and application. Text me at 512-360-0852 when you apply so I can make sure everything’s on track.