The Real Cost of Moving To Austin
Austin is a rapidly-growing urban city with a robust job market, making it an attractive choice for individuals and families looking to relocate. However, any Austinite will tell you that the city’s incredible food, vibrant cultural scene, and exciting economy can come at a price. To help you plan, we’ve broken down the five most common costs you’ll face when you move to Austin.
Buying a House
Real estate in Austin varies depending on the specific location and related conveniences. Overall, you can expect an average home price of $301,000, while the average national average hovers at about $256,000, according to the National Association of Home Builders. But if you want to live in a central locale like Downtown Austin, you’ll pay a median sale price of $465,000.
Commuting
Austin relies largely on cars, given its motor-friendly infrastructure. Multiple highways run through the city, including several toll roads charging between $0.72 and $8 per vehicle. Once you arrive at your destination, parking options in Austin include $1/hour metered parking throughout the city’s main business districts, along with an array of parking garages with rates that vary depending on location and length of stay.
Austin’s public transit system is operated by CapMetro, which operates buses throughout the city. Bus rides cost $1.25 each way. CapMetro also handles the MetroRail train service, which connects Austin’s outer neighborhoods and suburbs to the central business district. MetroRail trips are $3.50 per ride.
Taxes
Property taxes in Texas rank among the highest in the country. As of 2017, Texas’ taxes for homeowners surpassed those of 45 other states. Austin in particular has experienced a dramatic swell in tax rates, with an average bill of $7,600 per year, up from $7,083 in 2016.
Utilities
Austin Energy provides electricity for all city and suburb residences, with average bills varying for summer and non-summer months. Summer rates are in effect for June, July, August, and September.
Austinites have several options for internet providers, but the buzziest and fastest choice comes from Google Fiber. Plans range from $50 to $160 per month, and they all include rapid upload and download speeds as well as unlimited data service.