If you have been thinking about moving to Texas, you may have wondered, is Austin expensive to live in? Yes, it is expensive to live in Austin, Texas. In fact, the state capital ranks as one of the top 20 least affordable metro areas in the country. Here’s what you need to know about the cost of living in Austin, some of the factors that are driving increases, and what you can do to keep your expenses under control.
Why Is Austin so Expensive To Live in?
There are plenty of reasons why Austin is so expensive. Although it is difficult to pinpoint a single underlying cause, rapid growth in the metro area plays a major role.
First, the cost of living is increasing almost everywhere, and Austin is no exception. For Austinites, a large portion of those costs go to housing. Whether you want a place to settle down or you are looking for something temporary, you might have to think outside the box to find affordable options in Austin.
Austin is among the fastest-growing large cities in the U.S. However, its housing supply struggled to keep up with the ballooning population, which, along with a general upward trend, caused housing prices in Austin to skyrocket.
How Expensive Is It To Live in Austin, Texas?
Austin is expensive to live in, but just how expensive is it? According to BestPlaces, the cost of living in Austin is 29% higher than the national average. They estimate that a family of four needs to earn $9,210 per month to live comfortably. For a single person, that amount drops to about $4,900 per month.
What Are Some Ways To Lower Costs of Living in Austin?
You can take steps to help keep costs down. One way to stretch your housing budget is to consider downsizing your home. Smaller houses and apartments typically cost less monthly, and they require less energy for heating and cooling. RV parks are another great approach, with utilities included in the lower costs and flexibility on stay length. Places like Austin RV Park allow you to live close to downtown with rates that make long-term stays affordable.
Residents aren’t the only ones looking to tackle the high cost of living in Austin, TX. In 2024, city leaders enacted reforms aimed at increasing affordability. So far, they are on the right track. Aided by an increase in available housing units, a household earning the median income would now spend less than 40% of its earnings on housing, a decrease of more than 2 percentage points from 2023.
There are other approaches, too. For example, spend less of your budget on days off by enjoying some of the great free activities in the city. Using public transportation can also help you manage the cost of gas and parking. Austin’s CapMetro app makes it easy to find routes and buy passes.
It Is Expensive To Live in Austin, Texas
Unfortunately, it is expensive to live in Austin, Texas. However, Austin RV Park is an affordable place to call home. Whether you are interested in a long- or short-term stay, our facility is clean, safe, and comfortable. Contact us for current rates or to book your stay.