Where Do The People In Austin Get All Their Money

Austin is routinely lauded as one of the all-time places to live in the United States, thanks to its warm weather condition, thriving economy and bustling cultural scene. But if you're because moving to Austin, you'll take lots of different options for places to alive, from family-friendly suburbs to densely packed urban areas. Here'south what y'all should consider before making the move.

What information technology'southward like to alive in Austin
- Cost of living in Austin
- Working in Austin
- Climate of Austin
Where should I alive in Austin?
How to movement to Austin
- Renters insurance in Austin

What it's similar to alive in Austin

Besides existence the state capital of Texas, Austin is too the hub for artistic culture in the state. It's home to the Academy of Texas at Austin, and it's equally well-known for alive music as information technology is for Tex-Mex cuisine. South by Southwest (besides known equally SXSW) and Austin Urban center Limits (ACL) music festivals accept over the city each spring and fall. They each provide unique opportunities to feel some of the best touring musical acts in the globe, while too bringing hundreds of thousands of visitors into the city, making everyday life more challenging for residents.

Austin'due south primal culinary exports are Tex-Mex items like queso dip and breakfast tacos, besides as Texas-style barbecue and locally brewed beer. But like whatsoever hip city, in that location is a huge variety of cuisines and cost points, so yous'll be able to detect restaurants that adapt your taste, whether from an inventive food truck or a loftier-end sushi restaurant.

Besides nutrient and music, Austin has plenty of parks and outdoor space to enjoy. Known as the city's crown gem, the Barton Springs Pool is a must-visit outdoor swimming pool fed by natural springs and is three acres in size.

Price of living in Austin

**Editor's annotation: Prices are based on the latest available data. However, dwelling house prices have steeply risen nationwide in the past 12 to 18 months, and these fluctuations may not be reflected here. **

Austin is a moderately expensive place to live, but information technology also has comparably high wages to offset the cost of living. The median home in Austin costs $378,300, which is far higher than the median in Texas ($200,400) or the United States overall ($240,500). This is somewhat balanced by high wages: The median house costs about 4.viii times the median household wage of $71,100.

Renting, by comparison, is more affordable. The median rent in Austin is $1,334, which works out to be 21.two% of the city's monthly median household income. That'due south close to the same as in Texas overall (20.four%) and less than the average in Denver (22.vii%).

	Austin, Texas	Texas	Us	Denver, Colorado
Median household income	$75,413	$64,034	$65,712	$75,646
Median rent	$i,334	$i,091	$1,097	$one,433
Hire as % of income	21.2%	twenty.four%	xx.0%	22.7%
Median mortgage-related costs (SMOC)	$2,189	$i,675	$1,609	$one,984
Mortgage-related costs as % of income	34.8%	31.4%	29.4%	31.5%

The cost of getting around in Austin

Austin is a fairly spread-out city, with a population density of around 3,006 people per foursquare mile. About people in Austin commute past car, with about 81% of people driving alone or carpooling. The next most common selection is to work from home at 11%, while all others (including public transit, walking and bicycling) make up just 8%.

Since most people in Austin commute past car, the primary costs of getting around in the city come from motorcar payments, gasoline, insurance and maintenance. The boilerplate gasoline price is cheaper in Austin than throughout the Usa and slightly less expensive than the average price in Texas. According to AAA, per-gallon gas prices boilerplate $2.88 in Austin, $2.91 in Texas and $3.thirty across the country.

Commute times in Austin

Car insurance is slightly more expensive in Austin than other cities in Texas. At an boilerplate of $1,920 per year, it'southward 3% more than the state average of $1,872.

Of course, car insurance costs vary widely by commuter. The charge per unit you'll pay is based on things like where you lot alive, what kind of car y'all bulldoze and your driving history, so always check with multiple insurers to notice the best deal. Information technology's worth noting that among insurers nosotros surveyed, Country Farm offered the best rates in Texas, with an annual premium of only $i,094 for a 30-twelvemonth-quondam with a clean driving history.

Alternatives to car ownership

Unfortunately, those looking to live a car-gratis lifestyle in Austin may find it difficult. Transit options are sparse compared to other major cities: The main options are a restricted bus service throughout the city and a light runway service to North Austin. You'll likely need a automobile for errands and other trips, even if yous tin can commute to piece of work via public transit. People living near the center of the city in downtown East Austin or near the UT-Austin campus may be able to go past without an machine, every bit there are more options to walk, wheel and take transit than other areas.

The good news is the price of public transit is depression: Single fares are $i.25, and $2.fifty will get you lot around for an entire mean solar day. Additionally, competition between ride-sharing companies and local ride-share app Ride Austin have fabricated ride-sharing fares low as well.

Working in Austin

Austin has long been a software and technology industry hotbed, having been dubbed "Silicon Hills" in the 1990s. Superlative employers include Dell and Apple tree, among other big-proper noun tech companies. Loftier-tech manufacturing is likewise prevalent, as are video game product and infinite applied science.

Austin's biggest employers

Rank	Employer	# of employees
1	Land of Texas	63,900
2	University of Texas at Austin	23,925
3	H-E-B	xviii,035
iv	Dell Technologies	14,030
5	Metropolis of Austin	thirteen,531
6	Federal Government	thirteen,199
7	Ascent Seton	11,227
viii	Austin Independent School District	11,101
9	St. David's HealthCare Partnership	x,836
10	Samsung Austin Semiconductor	8,935

Wages in Austin are relatively high, with a median household income of $99,227. The city likewise has a low unemployment rate of 3.2%, which beats out Texas overall (5.two%) and the United States as a whole (four.2%), suggesting Austin is a good place to discover a job, especially if you piece of work in a loftier-tech industry.

Climate of Austin

The climate of Austin, like most of Texas, is very hot during the summer and mild during the winter. Summer highs typically reach into the 90s, with several days each year exceeding 100 degrees Fahrenheit. Winters are mild, with temperatures ranging from 40 to 60 degrees Farenheit betwixt December and February.

Austin and central Texas are notable for their variable humidity. When the air current blows in from the desert to the west, the air is very dry; when information technology blows from the Gulf of Mexico to the east, the air is much more humid.

Where should I live in Austin?

At an area of 271 square miles, the city of Austin is sprawling and has many dissimilar neighborhoods to choose from. They range from tightly packed urban areas with plenty of shops, restaurants and bars to tranquility family unit-friendly suburbs. Generally, you'll pay more as you lot go closer to the center of the city.

Take some time to consider where you will work (or are likely to piece of work) before yous pick where yous'd like to live. Austin's traffic is notoriously bad, so if y'all tin live close to your new workplace, you'll limit how much fourth dimension yous'll spend stuck in a car each day.

Median rental prices

Median dwelling house purchase prices

Downtown

Unsurprisingly, downtown is the about central, dense and expensive part of Austin. It'south dwelling to a large portion of Austin's restaurants, confined, venues and other points of involvement. If yous want to live in the middle of everything (and take the income to afford it), downtown is the place to exist. Downtown Austin is as well the most full-bodied location for people to work, although not by every bit large of a margin every bit other cities.

Academy of Texas

The area around the University of Texas, just north of downtown Austin, is home to many college students and recent graduates, with the activities and amenities to match: You lot'll find cheap restaurants, cool shops and bars full of young people. However, the UT area is not every bit cheap to live here as you might expect for an surface area popular with college students.

Due south Austin

Due south Austin, particularly the 78704 ZIP code, is the center of "Weird Austin" and full of unusual people and places to go (although the expanse is not as out-there every bit it one time was). Equally you become further s, the expanse becomes more residential and somewhen more working-class.

Eastside

Historically, the eastside of Austin has primarily housed the metropolis'south Mexican and Latino population, and it has plenty of Mexican grocery stores and taco trucks to serve them (though in truth, taco trucks are just nearly everywhere). More recently, the surface area has been a pop option for artists.

North Cardinal/Northwest Austin

North Fundamental and Northwest Austin are among the most historic (and most expensive) neighborhoods to live in Austin. They have cute quondam homes, which tend to be on the smaller side, as well as breweries, small cafes and upscale shops.

Greater Austin

More than half of the people who alive and work in the Austin expanse live outside of the urban center, and many people commute into Austin to piece of work. If y'all are looking for a little more space for a little less money, and you tin handle a longer commute, consider looking across Austin's urban center line for a identify to alive. Some of the surface area'due south major employers are as well outside of Austin proper, so your commute could actually exist shorter if you move to the suburbs.

How to move to Austin

Austin is in the midst of a population boom, with more than than 150 people moving to the city each day — it's the ninth-fastest growing metro surface area in the nation. Equally a result, the housing market place is competitive, and you'll demand to be prepared when y'all actually start looking for your new home.

Housing options in Austin

Similar all cities, there are common benefits and options to consider when choosing a place to alive in Austin. Here are some common ones, so y'all can decide which are must-haves and which yous can live without.

House vs. apartment: It's possible to rent either an apartment or a freestanding house in the Austin area. A firm will give you more space, but an apartment is more likely to be located in a lively neighborhood. For a given area, an apartment will generally be less expensive. But some of the priciest areas, like downtown, are more apartment-heavy.
Dress washer and dryer: Many homes include a washer and dryer, or they have hookups then you can rent or buy your own. If a domicile doesn't accept either, brand sure there'south a laundromat nearby, equally hauling tons of laundry in the Austin rut is very unpleasant.
Air-conditioning: Most Austin homes have central air conditioning. When you're looking around for a place to live, ask how new the AC is. Newer AC units are more efficient than old ones and will lead to a significantly lower utility bill, since your AC will be on essentially all summer.
Appliances: Your new place will come with a stove and refrigerator. Consider whether it's worth it paying more than for a place with nicer models or boosted appliances like a congenital-in microwave.

Finding a identify and submitting an application

Austin has licensed leasing agents who know the urban center'due south landscape and tin can help you find a place that suits your needs in your price range. They're all licensed by the country, and landlords, non tenants pay their fees, then they won't pressure you into too expensive an apartment, nor will y'all have to pay for their services.

Gather all your necessary personal information before you starting time looking, so that when y'all find a identify you like, you lot can apply correct away. If yous spend the dark thinking almost it or need a few days to get together your one-time pay stubs, you lot might find that someone else has scooped up your dream home.

You lot should bring:

Rental management companies are required to post rental awarding requirements publicly, so you'll normally know in advance if you meet the criteria to move into a specific identify. After you're canonical, you'll typically demand to pay a month's deposit to move in.

Renters insurance in Austin

Renters insurance is an essential investment for renters in Austin. It only costs a few dollars per calendar month, but it protects all your belongings if they're ever damaged or stolen. Austin renters insurance is 23% cheaper than the boilerplate in Texas, with a typical renter paying nearly $20 per month for $25,000 of coverage.

But the cheapest renters insurance company we found, Mercury insurance, offered the same coverage for simply $12 per month. We encourage people shopping for renters insurance to cheque with multiple companies for the all-time price.

Methodology

To understand the price of living in Austin, ValuePenguin compiled the cost of homeownership, renting an apartment, and commute information from the 2019 American Community Survey.

Median income data was collected from the U.Southward. Bureau of Labor Statistics.

Source: https://www.valuepenguin.com/moving-to-austin

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