The cost of living in Austin, Texas
Austin, the capital of Texas, is often recommended as one of the best places for living. It has a comfortable climate, many wonderful places in the vicinity, and a thriving economy. It is also known for its bustling cultural scene. If you are considering moving to Austin, you can always rely on the excellent services of Best Cross Country Movers. You will also have to decide which of the Austin suburbs is the best one for you. Some are densely packed urban areas. Some are quieter and better for young families. Also, everyone moving there should learn about the cost of living in Austin, Texas.
What’s the cost of living?
You have probably heard many times about the cost of living. You may know what it consists of. However, many people are not so sure. Or, they are having in mind an incomplete picture of it. In brief, it is the amount of money needed to cover basic family expenses. These are some of the main expenses:
Also, when we compare living costs in two towns, we have to take into account the salary levels. And the average household income.
Austin’s most popular neighborhoods
The city’s diverse lifestyle, live music scene, excellent restaurants, and gorgeous landscape are attracting many to move to this interesting city. According to annual statistics of the best cross country movers in Austin, the number of people moving in is steadily increasing. In case you are deliberating about moving to Austin, you may check some of its most popular neighborhoods. Each of them has something unique to offer, and by checking them you can easily find an excellent place for yourself:
- Downtown – rich with various activities and events from dawn to late evenings
- Tarrytown – a highly sought-after neighborhood with quiet streets and great schools
- Mueller – eco-conscious community
- Belterra – a family-friendly community and excellent for those who like outside sports
- Westlake – is known for its luxury homes
- Circle C Ranch – a quiet community with many amenities, including the amazing Grey Rock Golf Club
- Teravista – is a master-planned community with over 3,400 homes
- Avery Ranch – a family-friendly neighborhood
Living in Austin, TX
Austin is home of the University of Texas, so you shouldn’t be surprised to see many young people at the streets. Some of them are students, some are young professionals. Within the last decade, many techs and software industries were established in the town. So, they have attracted many millennials.
Austin is also known for its elderly population. Many retirees have moved in due to affordable housing and a nice climate. Also, there are many activities for senior citizens to enjoy. They can go boating, golfing, and hiking.
What is Austin known for?
Austin is also popular for its Tex-Mex cuisine, Texas-style barbecue, and locally brewed beer. The atmosphere in the town is relaxed, except for the numerous tourists. However, they are mostly visiting the downtown and South by Southwest. Known also as SXSW, it is a center of music festivals, which are taking place every spring and fall.
Besides this, as a resident, you will enjoy the peace and many outdoor activities. Aside from the lakes and parks, you can also enjoy the natural walking and biking sites. Such places you can find in many Austin neighborhoods.
What is the real cost of living in Austin?
The increase in the population usually drives up the living costs. Austin is not an exception in that sense. However, it is still one of the less expensive cities in the USA. As a magnet for creatives, and thanks to its artistic culture, the best cross country moving companies Texas are rather busy. They are having a lot of work bringing in the new residents. According to them and other town statistics, the Austin population increased by 30% within the last decade.
One of the consequences is a change in the ownership structure. Within the last decade, the number of renters has overtaken the number of homeowners. The median home price has increased. So, in January 2022, the average home price in Austin was $551,200. Also, the average rent in January 2022 was $2,245. At the same time in 2021, the rental cost was $1,891. However, we have to keep in mind that the national average rental costs have increased by 15.2% over a year.
Transportation as a cost of living in Austin, Texas
Austin is a fairly spread-out city. Having in mind that most of the residents are using cars for commuting, the cost is increasing. Especially now, when the price of crude oil is rising. So, maybe people will start using public transportation more. Until now, only about 11% of residents were using this commuting possibility.
Main employers in Austin and the median income
Austin has been, for a long time, a technology industry hotbed. It is also known for its schooling districts. So, here are the main employers in Austin today:
- The Apple Inc.
- Austin Independent School District
- Dell Technologies
- Electronic Arts
- IBM Corporation
- University of Texas – Austin
The median family income in Austin in 2021 was $98,900. In 2022 it went up to $109,000. However, we should also consider the salary range. As everywhere else, the salaries are different. So, the salary range in Austin goes from $ 28,100 up to $496,000. And, as everywhere else, it depends on several factors. So, if you get a job at a prestigious company in Austin do not hesitate. With the help of the best interstate movers San Antonio you will easily relocate. And we are sure that you will be satisfied with their moving skills. As well as with your new job.
Cost of living in Austin – utilities
The utility bill that you will have to pay monthly in Austin ranges from $130.33 to $230. The cost includes electricity, heating, water, and garbage disposal. So, to make it clearer, for a 914 square feet apartment you will receive a utility bill of $171.43. Besides, you will have to pay the internet costs. They range from $44,00 to $62,00. And they depend on the provider and the neighborhood you are living in.
Costs of food and healthcare
Living in Austin as a single person, your average spending for food will be around $3,500. In the case of a family of four, you can expect to pay about $9,500 per year for groceries.
Healthcare is one of the things you have to consider as an item in your budget. So, as an adult without kids, you will pay about $2,760 for medical care over the year. For a family of four, the annual healthcare will amount to $8,694.
Understanding the living costs
When you are planning to move, it is good to understand the costs of living in Austin, Texas. That can help you to better organize your spending. Also, it will help you calculate your monthly and annual budget. It might look as not so important. However, once you apply the knowledge about living costs, it can surprise you. With understanding, you will start to plan more. And, that can easily end in unexpected savings.