Austin, Texas is a hub for arts, technology, and music, It has consistently ranked as the top place to live in America time and time again. It has also served as an incubator of various start-up businesses and entrepreneurs, thus earning the name “Silicon Hills”.
Are you planning to move to Austin? Are you aware of the cost of living there? The cost of living is higher in Austin in contrast to other parts of Texas. Let’s discuss various factors that contribute towards the cost of living in Austin, Texas.
Cost of Housing in Austin: Real estate cost is greater in Austin than the average housing cost of Texas. The surge in population has created an affordability crisis in the city of Austin. The cost of housing is directly related to the style of the home. Waterfront homes in Austin have price tags ranging from $6 million – $10 million. Similarly median home prices in Austin have also increased. With current trends, median Austin housing prices will be high for more populous counties. Similarly, average rent in Austin is nearly $1335 per month (for 1 BHK) and goes to $1650-$2573 per month (For 2 bedroom unit- 4-bedroom unit). However rental cost is comparatively lower in neighborhoods outside of Central Austin. Renting can be an advantage because you won’t need to cover maintenance and repair costs, homeowner’s insurance, and other costs associated with ownership of the house.
Utility Cost in Austin: The cost of utility is on the lower side compared to the state and national average cost. The lower cost of energy is due to the low kilowatt per hour usage from various initiatives spearheaded by Austin Energy.
Cost of Food: Austin is a foodie’s paradise and always boasts of a growing foodie scene. Grocery prices are lower than the national average prices. You can find a variety of Grocery stores, food trucks, cafés, restaurants, etc. that will keep you satisfied for years. Austin offers award-winning restaurants to humble family owned greasy spoons that are highly revered among locals. The food choices include all types of food for all cultures including vegans as well as vegetarians.
Transportation Cost: Due to the wide availability of public transportation, the cost of Public transportation is reasonable and varied for every transportation need in Austin. One can use public transport or their own personal vehicles to commute. Owing to high traffic and the need for well-maintained roads, Austin requires a transportation user fee. The tranportation user fee is a tax based on the anticipated traffic level each type of dwelling generates. Rates vary depending upon the type of household. People who own or rent House/garage residents pay $14.96 per month, duplex residents $13.62 per month, triplex or fourplex residents, Townhouse, Condo residents-$ 11.60 per month, Condo residents- $10.11per month, mobile home residents- $9.06 per month. A local monthly bus pass is available for $ 41.25 a month. Most of Austin’s workplaces generally live within 10 miles of their workplace.
Health Care Costs in Austin: Healthcare facilities in Austin are 1% cheaper than the national average healthcare cost. Four hospitals of Austin have ranked in the top 100 hospitals in the U.S. On an average basis, the average cost of health care: is $110.05 per doctor visit, $103.12 an optometrist visit, $438.35 for prescription drugs, $94.54 per dentist visit, and $51.88 for a vet visit. Post covid-19, insurance premium has increased. Taking good care of pet health is also important.
Child Care Cost: This cost may vary from one center to another. Price also depends upon the age of the child, whether the child is in diaper or potty trained.. Families can save money on childcare by hiring a private babysitter or a nanny shared with another family.
Entertainment & Recreation: Austin is known as the “live music capital of the world”. A vibrant, happening nightlife and events draw a huge number of people to Austin every year. Museums, parks, gardens, shops, and festivals add to the buzz of the city. Based upon occasion and budget, there are plenty of options for everyone.
Salaries in Austin: Average base salary of Austin residents is $74K/year. The economy of Austin is considered to be strong and rapidly growing. The technology and medical sectors are the highest paying sectors.
Undoubtedly cost of living is higher in Austin than the rest of Texas but lower than many other cities of the U.S. but also have a higher level of population and amenities. Are you planning to move to Austin, Texas? AB Moving is a top-rated professional Local Austin mover, with a wide array of moving services to residents, seniors, and businesses across Austin, Texas and beyond. Whether you plan to move eventually or next week – give us a call or drop an email. Get a free moving quote today.
Are you planning to move to Austin? Are you aware of the cost of living there? The cost of living is higher in Austin in contrast to other parts of Texas. Let’s discuss various factors that contribute towards the cost of living in Austin, Texas.