I have lived here for several years and if I were looking for an affordable apartment in Austin where I could be myself, I would immediately come to the Metropolis.
This is one of the oldest complexes in the city and granted sound does pass through the walls easily. But its age and colorful exterior are what sets this place apart. The walls also tell of the colorful characters you will find inside. Musicians, artists (of every medium), poets, old Hippies and Yippies of every sort are welcome here. There is a strict cut off time of 9 p.m. for bands to stop practice. And security patrols all night.
In short, if you haven't given up on your dreams then "The City of Dreams" is for you!