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Cost of Living in Austin

Is it better to rent or buy in Austin? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$102,921
$1,842/mo

Median in area: $1,842

$614,873

Median in area: $614,873

$122,975

If you Rent

🔑
$1,977 /mo
Base Rent$1,842
Est. Utilities$135
% of Income23.1%
Pre-tax Residual$6,600

If you Buy

🏠
$4,080 /mo
P&I (6.619%)$3,148
Taxes & Ins$797
Est. Utilities$135
% of Income47.6%
Pre-tax Residual$4,497

Cost of Living FAQs

Is it cheaper to rent or buy in Austin?›

Based on median housing data, renting is currently more affordable on a monthly basis in Austin. The estimated all-in monthly cost for renting is $1,977, while owning a median-priced home with a 20% down payment is roughly $4,080 per month (a difference of $2,103).

How much do utilities cost in Austin?›

The average monthly utility cost (electricity and natural gas) for a typical home in Austin is approximately $135. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Austin?›

To comfortably afford the median rent and utilities in Austin without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $79,080 per year.