The cost of living in Austin TX is reasonably one of the primary concerns of those contemplating a move to the Texas capital. We made a guide to solve this mystery – is residing in ATX affordable and how much of a budget do you need if you plan on moving to Austin. Here are the most common expenses you can expect, including housing, transportation, and groceries.
When it comes to living in Austin, keep in mind that it’s one of the most popular cities that Americans choose to move to. Currently, more than 988 thousand people reside in this city of blues, rock, and country. It’s named as the number one place to live in the US in 2019 according to the US News & World Report’s list. If this made you choose to relocate here, it would come handy to know what is the price of living like an Austinite.
Capitals tend to have higher prices than other cities in the state. If you were wondering is it expensive to live in Austin Texas, the simplest answer is that the cost of living in Austin is 3% lower than the national average. Keep in mind that A-Town covers a vast area and that it’s growing rapidly, so the prices may vary depending on in which of the Austin suburbs or the best neighborhoods in Austin you chose to reside in. Your expenses also depend on your lifestyle, but some are the same for everyone. That’s why it’s useful to know what salary do you need to live in Austin before scheduling moving services.
Let’s do a quick calculation – according to data from Numbeo, the website that calculates the cost of living, a single person spends $820 on average without paying the rent. It varies from $1,100 to $1,700 for a one-bedroom apartment, depending on the location. That leaves from $1,980 to $2,580 in your bank account, because the average salary after the taxes is $4,500. You will need around $53,000 yearly to live comfortably, including money for entertainment and the savings account. Don’t let the big numbers scare you, especially if you’re moving from a small town to a big city. It’s not as cheap as Montana or Idaho, but the calculator shows that it’s cheaper than other metropolitan areas and capitals.
Before relocating somewhere, you need to be sure that you have enough money to reside there, especially if you’re doing this for the first time. These numbers will help you with creating a moving out for the first time budget.
Based on data from Numbeo, you will spend more than 40% of your income on rent. Depending on whether you want to have a home in the city center or somewhere farther away, the rent for a three-bedroom apartment can range from $1,900 to $3,000. If you plan on buying, a square foot is anywhere between $190 and $370. The utilities make just 5% of the monthly expenses, and it’s $140 for electricity, heating, cooling, water, garbage for a 915 sq ft apartment.
As for the transportation, you can expect a price of $40 for a monthly pass for public transportation, and $2.25 for a gallon of gasoline if you plan on transporting your auto. Taxi start is $2.50, and one mile of the ride is $2.40.
You can of course cook for yourself and buy the groceries at the market, or dine at some of the best restaurants in Austin. A standard consumer basket that contains a gallon of milk, bread, twelve eggs, and a pound of rice is $8.6, while a meal in an inexpensive restaurant is $13. McMeal at McDonald’s is $7, and a three-course meal for two in a mid-range eatery is $50.
Where does Austin rank in cost of living? According to Numbeo, the cost of living in Austin Texas is cheaper than in Houston and San Antonio. Consumer prices, restaurants, and groceries are cheaper in A-Town, while rent is more expensive. As for Dallas, the standard is pretty much the same. ATX has a cost of living index of 63, Dallas 64, San Antonio 66, and Houston 67.
When we compare Austin Texas cost of living to other capitals or major cities like San Diego, Boston, Chicago, or Miami, you can see that each one of them is way more expensive than ATX. The same goes for Atlanta, assuming that you will be renting in both places. The only place that is on par with A-Town and that has lower costs is Phoenix, AZ.
A four-person family can expect monthly expenses of around $2,900 without rent. There are plenty of fun and free things to do with kids in Austin, but they come at a specific cost. If you’re moving with kids, you can take them to some of the beautiful parks like Zilker or to the museums and science centers.
A-Town has plenty of schools, both public and private. If you opt for a private one, keep in mind that the average private elementary school tuition in TX is approximately $7,996 annually, and $10,916 for private high schools.
Keep in mind that relocating from one state to another with your entire family can be relatively expensive and that it’s always better to work with a company that will provide you with a guaranteed rate and peace of mind. You can always find the cheapest way to move out of state and save some money, but it’s always better to work with professional Austin long-distance movers that will do the packing and unpacking for you and offer you free storage for a month. We recommend creating a moving expenses checklist that can help you keep track of how much money you’ll spend.