How Much Does It Cost to Live in Austin in 2022?
Austin is one of the hottest places to live these days and with good reason – it's got everything you could want in a city. Plus, the cost of living here is really reasonable compared to other big cities.
So how much will it cost you to live here in the future? The average household income is $86,530 (source), but let's take a closer look at the cost of living to see how things add up.
Housing is the most important factor in determining the cost of living in any city. Fortunately, Austin has lots of affordable homes for people of all income levels. The median home price according to Redfin is around $563,423, which is lower than the median price in many other major US cities. You can even find some amazing deals for less – according to Numero you can find a one-bedroom apartment outside of city center for around $1,473 a month, while the price per month for the same in the city center is around $2,136 a month!
Utilities are another big expense for people living on a tight budget. The good news is that utility prices in Austin are very reasonable compared to many other cities. The average monthly utility bill for a 915 sq ft house is only about $157 per month, including electric, gas, and water. Of course, your utility bills will be higher if you have a larger family or you own your own home.
Transportation can be one of the biggest expenses for people living on a budget. The Bus routes throughout the city are quite extensive and connect passengers to all the major areas of the city. A one-way ticket costs $1,38. In addition, it's very affordable to purchase monthly passes ($42/month), so you can always take a bus without worrying about paying for individual rides.
4. Restaurants and Markets
Let's take a closer look at the cost of eating out in Austin and see what you can expect to pay for meals at some of the most popular restaurants in the city.
There are a few different pricing categories that determine the price of a meal at a restaurant. According to Numero a meal at an inexpensive restaurant costs around $16, while the price for a meal for two at a mid-range restaurant is closer to $67.
Grocery shopping is another aspect to budgeting that everyone needs to take into consideration. The cost of groceries varies quite a bit depending on where you buy your food and how many people are in your family. Let's take a look at some of the prices for some common food items that you might purchase at the grocery store in Austin to get an idea of what you can expect to pay:
Milk (Regular, 1 Gallon) - $4.03, Eggs (Regular, 12) - $3.49, Bread (White, 1lb) - $2.47.
Here is a summary of prices for you to take a look at before you move to Austin:
- Apartment (1 bedroom) in City Centre $2,136.21
- Apartment (1 bedroom) Outside of Centre $1,473.14
- One-way Ticket (Local Transport) $1.38
- Monthly Pass (Regular Price) $42.00
- Milk (regular), (1 gallon) $4.03
- Loaf of Fresh White Bread (1 lb) $2.47
- Rice (white), (1 lb) $1.46
- Eggs (regular) (12) $3.49
- Local Cheese (1 lb) $6.26
- Chicken Fillets (1 lb) $5.19
- Beef Round (1 lb) (or Equivalent Back Leg Red Meat) $6.37
- Apples (1 lb) $2.16
- Banana (1 lb) $0.69
- Oranges (1 lb) $1.83
- Tomato (1 lb) $1.33
- Potato (1 lb) $1.18
- Onion (1 lb) $1.04
- Meal, Inexpensive Restaurant $16.00
- Meal for 2 People, Mid-range Restaurant, Three-course $67.50
- McMeal at McDonalds (or Equivalent Combo Meal) $8.50