"Cost of living" refers to how expensive it is to cover basic expenses in one area versus another locale. In other words, your dollar will go a lot further in rural Idaho than in New York City! If you're planning a move to Austin, it's important to consider the local cost of living and how it compares to that of your current town.
Cost of Living Index
Here’s how the Cost of Living Index is determined: The average cost of living in the United States is assigned the value of 100, and then individual cities are assigned values above or below 100 for comparison sake. Austin's Cost of Living Index is 105, which means it's slightly above the national average.
Comparison To Other Cities
Though the cost of living in Austin is a bit higher than the national average, it is quite comparable to that of many other southwestern cities and far less expensive than most coastal cities. Here's a look at the Cost of Living Index in a few other places:
New Orleans: 99
New York City: 167
San Francisco: 192
Austin offers much of the culture, history and entertainment of a larger city like New York or San Francisco, but at a much lower cost. If you want to directly compare the cost of living in Austin to that of your current town, use this tool from Areavibes. It will give you a side-by side comparison of the average cost of groceries, healthcare, transportation and utilities in both cities.
Average Costs in Austin
Here's a look at some average costs in Austin. Keep in mind that these are averages; you may pay more or less than this depending on your unique circumstances.
Monthly rent on a 1-bedroom apartment: $955
Monthly rent on a 2-bedroom apartment: $1179
Electricity (monthly): $158.42
Monthly public transportation pass: $58
5-mile taxi ride: $19
If you're moving to Austin for a job, keep these costs in mind as you negotiate your salary. The same salary may go a lot further in Austin than in your current city. For example, you can maintain the same standard of living for $50,000 in Austin versus $119,830 in New York City!
What You Get For Your Money
Austin offers a great value for its relatively low cost of living. It has a livability score of 77, which is classified as "extremely livable." The average summer temperature is a comfortable 83°F, and the high school graduation rate is 9 percent higher than that across Texas.
Where Austin really shines is in the realm of amenities and entertainment. There's a hot and ever-growing food scene, with new restaurants opening every week. Historic sites, yoga studios, art museums and music venues will keep you busy every night of the week.
If you're looking for a comfortable, affordable place to live in Austin, keep Springs at Round Rock and Springs at Lakeline luxury apartments in mind. Contact us to learn more about our friendly and welcoming communities.