South & Southeast Austin Apartments Offering Up to 3 Months Free Rent (February 2026)

By Alexander Concepcion

Looking for an apartment in Austin? February 2026 is the perfect time to score major rent savings in South and Southeast Austin. Here’s why:

High Rent Concessions: Many properties are offering 4–12 weeks of free rent, with some going up to 3 months free. Additional perks include gift cards (up to $2,500), waived fees, and reduced security deposits.
Market Trends: Austin rents dropped 4.8% year-over-year, leading to aggressive deals due to an oversupply from a recent construction boom.
Prime Areas for Deals: Hotspots like Estancia, Onion Creek, Goodnight Ranch, and McKinney Falls feature competitive rents starting below $1,200/month before concessions.
Negotiation Tips: Leverage market competition to ask for extras like waived parking fees or spreading free rent across the lease term for lower monthly costs.

If you’re a renter, this oversupply gives you the upper hand. Act now to lock in these offers before the market stabilizes.

Deal Summary

Austin Apartment Rent Concessions Comparison: Net Effective Rent Calculator February 2026

What Concessions You Can Expect

With an oversupply of units on the market, landlords are pulling out all the stops to attract renters. Most properties are offering 4–12 weeks of free rent, with the sweet spot typically around 6–8 weeks. Some buildings are going even further, providing up to 3 months free. On top of that, you might snag gift cards worth $500 to $1,000 (Visa or Amazon), waived fees, or even security deposits as low as $99 – or none at all if your credit checks out.

Many properties also feature "look-and-lease" deals. These encourage quick decisions by offering perks like $500 credits or waived parking fees if you apply within 24–48 hours of your tour. Right now, about 33.3% of stabilized units in Austin are offering discounts, with typical savings amounting to 10% to 14% of the total lease value.

How to Use High Negotiability to Your Advantage

With so many incentives on the table, you have more room to negotiate than usual. Let property managers know you’re checking out other buildings nearby – it could motivate them to sweeten the deal to match or beat a competitor’s offer. If they’re unwilling to budge on rent, ask for extras like waived parking fees, free storage, or pet fee removal. Another smart move is to request that free rent be spread across the lease term rather than applied upfront. This approach lowers your monthly cost, making it easier to manage your budget.

And remember, the best deals often aren’t listed online. They’re uncovered during tours or by working with apartment locators who are in the know.

Net Effective Rent Breakdown

To truly understand the value of these offers, look at the net effective rent – a calculation that factors in concessions. Here’s how it works: subtract the total value of concessions from the lease total, then divide by the number of months in your lease. For instance, if you’re renting a $2,000/month apartment with 8 weeks free, you save around $3,700, which lowers your effective monthly cost by over $300.

Property Type	Advertised Rent	Concession	Net Effective Rent
Luxury 1-Bedroom	$2,000	8 Weeks Free	~$1,692
Mid-Range 1-Bedroom	$1,500	1 Month Free	~$1,375
Value 1-Bedroom	$1,200	6 Weeks Free	~$1,061

When comparing apartments, don’t just focus on the advertised rent. Instead, calculate the total cost over the lease term. Sometimes, a higher sticker price with a better concession package can save you more in the long run.

South Austin Properties: Estancia & Onion Creek

Properties with the Best Offers

Estancia and Onion Creek properties are offering some standout rent concessions right now. Here are the highlights:

The Nelson, Park South, Shelby Ranch, and View at Estancia: 2.5 months free
Trinity Estancia, Park at Estancia, Cortland Onion Creek, Reveal at Onion Creek, ArborView, and Menchaca Commons: 2 months free
Bridge at Estancia: 1.5 months free
The Saint Mary and Casata Austin: 1 month free

For pricing, Trinity Estancia starts at $1,045 for a one-bedroom, while Cortland Onion Creek starts at $1,056 for the same layout. However, don’t forget to factor in mandatory monthly fees, which can range from $77 to $196 for services like trash, pest control, and technology packages. For example, a unit advertised at $1,903 could end up costing $2,099 once fees are included.

These properties come packed with modern perks, including 24/7 fitness centers, resort-style pools, dog parks, and car wash stations. Inside the units, you’ll typically find stainless steel appliances, granite countertops, and walk-in closets. Plus, the location is convenient for shopping, with nearby spots like H-E-B, Central Market, and the Shops at Arbor Trails offering easy access to essentials and more. While the deals are tempting, it’s worth considering a few factors before signing a lease.

What to Watch Out For

Many of these attractive offers come from newer developments still in their lease-up phase, typically between 2023 and 2024. This means you might encounter construction noise or unfinished amenities during your first few months of living there. Be sure to confirm which features are fully operational and which are still in progress.

Pay close attention to listings that mention "select units" – features like fenced backyards or tile backsplashes may not be available in every apartment. Touring the specific unit you’ll be renting, rather than a model, is the best way to avoid surprises.

Keep in mind that the area has low walkability. With Austin’s TransitScore at 36/100, you’ll likely need a car for errands and commuting. Lastly, while the initial concessions are appealing, remember that your rent will likely jump to market rate when your lease renews, so plan your budget accordingly.

Southeast Austin Properties: Goodnight Ranch & McKinney Falls

Properties with the Biggest Concessions

If you’re looking for rental deals in Southeast Austin, this area has some of the most generous offers around. At the top of the list, Cascades at Onion Creek is giving away 3 months free rent, while Citizen House Bergstrom sweetens the deal with 2 months free plus a $2,500 gift card.

Other enticing offers include 2.5 months free at Ivy Heights, Cadena at The Falls, and The Elina. Several properties, like Nexus at Goodnight Ranch, Southpark Crossing, McKinney Falls, Bridge at Goodnight Ranch, Cortland Bluff Springs, and Water Oak, are offering 2 months free. For those okay with slightly smaller concessions, Bridge at Three Hills, Spring Villas, 3600 Capitol View, and Terra provide 1.5 months free, while The Bennett, Goodnight Commons, and Aspire at Onion Creek offer 1 month free. Other options include Vantage at McKinney Falls and Limestone Ridge, which feature up to 2 months free, and Terrace Cove, with up to 1.5 months free on select units.

Budget-conscious renters will also appreciate competitive one-bedroom rates, starting at $1,151 at Cortland Bluff Springs, with Cadena at The Falls and Ivy Heights just a bit pricier. These generous concessions highlight the market’s oversupply, giving tenants plenty of leverage when negotiating terms.

Location and Lifestyle Factors

Southeast Austin isn’t just about great deals – it also offers a lifestyle that balances affordability and convenience. Located roughly 10 miles from downtown, it’s about a 20-minute drive to the city center. Plus, it boasts some of the quickest access to Austin-Bergstrom International Airport, with commutes typically taking 10–15 minutes. This makes the area especially attractive for frequent flyers and airport employees.

The neighborhood itself has a quieter, more laid-back feel compared to the bustling South Congress corridor. Outdoor enthusiasts will love the proximity to McKinney Falls State Park, which offers hiking, swimming, and scenic waterfalls, as well as the expansive 555-acre Onion Creek Metropolitan Park, perfect for trails and open spaces. Goodnight Ranch, a thoughtfully designed 700-acre community, offers 120 acres of trails, pocket parks, and a community pool.

For everyday needs, the area features convenient amenities like Austin Regional Clinic, Eggs Up Grill, and fitness spots such as Hotworx. Larger shopping and entertainment destinations, including Southpark Meadows and Circuit of the Americas, are just a short drive away. However, public transit options are limited – Capital Metro buses to downtown can take 25–35 minutes during rush hours. For most residents, having a car is the easiest way to get around and handle daily errands.

How to Get the Best Deal

Which Properties Negotiate Most

If you’re looking to make the most of market incentives, focus on timing and negotiation strategies that align with the competitive offers available.

New lease-up buildings are often your best bet for negotiation. These properties are eager to fill units quickly to meet their occupancy goals. Similarly, large management firms may offer flexibility on select units, especially floor plans that are sitting vacant or apartments that are among the last available.

Don’t hesitate to ask leasing agents about perks that might not be advertised – things like rebates, gift cards, or discounts tied to your employer. Many properties offer extra benefits to professionals in fields like tech, healthcare, or government. If the base rent isn’t negotiable, try asking for waived or reduced fees for parking, pets, or storage in exchange for signing a longer lease. Highlighting competing offers from nearby properties can also give you leverage to push for a better deal.

These strategies can help you set the stage for timing your lease to maximize savings.

Timing Your Lease for Maximum Savings

Timing can be everything when it comes to securing the best deal. For example, in February 2026, you might encounter offers that let you spread free weeks of rent over your lease term, effectively lowering your monthly rent. Let’s say an apartment is listed at $2,000 per month and comes with an 8-week free rent special. That would save you about $3,700 in total, bringing your effective monthly rent down by more than $300 when prorated.

Take advantage of "look-and-lease" specials, which often provide additional perks if you commit to a lease within 24–48 hours of your tour. You’ll also find that winter months – December through February – typically see rents dip by 2% to 5% compared to the summer peak. During this time, properties may combine multiple deals, such as free rent, lower deposits, and moving credits, to sweeten the pot.

Using these timing strategies can refine your approach and help you lock in significant savings.

How to Spot Problem Units

While large concessions can be tempting, it’s important to proceed with caution. Units that have been vacant for an extended period might have issues, such as being located near trash chutes, noisy equipment, or suffering from ongoing maintenance problems. During your tour, test the HVAC system – some units may struggle to cool below 89°F, which could be a red flag.

Be on the lookout for hidden fees that aren’t included in the advertised rent. Some properties tack on additional charges – such as $191 per month for services like trash removal, pest control, or technology packages – which can increase your actual monthly cost by nearly 38%. If you’re touring near McKinney Falls or Austin-Bergstrom International Airport, visit during peak hours to gauge aircraft noise levels. Finally, verify that any unusually low-priced units aren’t income-restricted or part of co-living arrangements.

These steps can help you avoid potential pitfalls and ensure you’re getting the best deal possible.

Conclusion

South and Southeast Austin have become prime spots for renters looking for great deals. With January 2026 data showing a 4.8% drop in rents compared to the previous year, properties are offering incentives like up to 12 weeks of free rent. Thanks to a combination of winter seasonality, stiff lease-up competition, and high vacancy rates, renters can take advantage of discounts that translate into serious monthly savings.

Some of the standout offers include Cascades at Onion Creek, which provides 3 months of free rent, and Citizen House Bergstrom, offering 2 months free plus a $2,500 gift card. These deals highlight the importance of focusing on new lease-ups and large management firms, which are often open to negotiating beyond their advertised specials. Be sure to ask about prorating free rent across your lease term and bundling additional perks like waived parking or pet fees. Timing and smart negotiation are your best tools in this market.

"Winter: The Sweet Spot for Bargain Hunters… It’s common to see additional deals stacked on top of existing specials – think up to one to two months free rent." – Ross Quade, Licensed Austin Expert

If you’re looking for even more insider tips, Taco Street Locating offers free locating services to help you uncover hidden specials and negotiate the best terms. Their team tracks exclusive perks like preferred employer discounts and look-and-lease incentives that aren’t publicly advertised. And since properties pay their fees, you get all this expertise at no cost to you.

Whether you’re drawn to the charm of Estancia and Onion Creek or the affordability and convenience of Goodnight Ranch and McKinney Falls, now is the perfect time to take advantage of these deals before the market bounces back.

FAQs

How do I calculate net effective rent?

Net effective rent is the average monthly cost you pay after accounting for any rent concessions, like free months offered by a landlord. Here’s how it works:

To calculate it, subtract the value of the free months from the total annual rent, then divide that amount by 12 to find the monthly average.

For example, let’s say your rent is $1,500 per month, and the landlord offers 2 free months on a 12-month lease. The total annual rent without concessions would be $18,000 ($1,500 x 12). Subtract the value of the free months ($3,000), leaving you with $15,000. Divide that by 12, and your net effective rent comes out to $1,250 per month.

This calculation helps you understand the true cost of your lease when incentives are factored in.

Will my rent increase after the free-rent deal ends?

Your rent might go up once the free-rent period ends, but recent trends in Austin’s rental market show that prices are easing. Landlords are increasingly offering perks to bring in tenants, which could help keep rents reasonable. It’s a good idea to check the renewal terms with your landlord ahead of time to steer clear of any unexpected changes.

What hidden fees should I ask about?

When renting in South and Southeast Austin, it’s important to be aware of potential hidden costs that could catch you off guard. These might include application fees, administrative fees, and pet-related costs – such as deposits or monthly pet rent. Parking fees and utility charges can also add up quickly, so make sure to ask about those.

Additionally, check if there are any move-in fees or extra deposits required beyond the standard security deposit. Some properties may also charge for amenities, late payments, or making changes to your lease. To avoid unexpected expenses, take the time to carefully review your lease agreement and clarify any unclear charges upfront. Understanding these details will help you get a clear picture of the total cost of your rental.