Moving to Austin (Part 1)

By 

Lighthouse

Updated

June 23, 2022

Moving to Austin (Part 1)

Many people claim that Austin is one of the best cities to live in the U.S. It's not just the weather, hospitality, and food. Its desirability also comes from a booming economy and a strong job market.

If you're moving to Austin you’ll want to keep reading. This is the first part of this Austin City Guide. In the second part, we’ll discuss Austin’s job market, culture, and transportation. 

These are the chapters we're going to begin with.

Chapter 1: Welcome to Austin! A City Overview

Chapter 2: Cost of Living in Austin

Chapter 3: Renting in Austin

Chapter 4: Best Neighborhoods in Austin to Rent

Let's start!

Chapter 1: Welcome to Austin! A City Overview 

Welcome to Austin! This city attracts thousands of people with its rich culture and hospitality. It's so popular that it's one of the fastest-growing cities in the U.S.

Austin is one of the beating hearts of Texas and homes almost 1 million people. 

Weirdly enough, the city doesn't have any professional sports teams (sorry sports lovers). What it does have, though, is tons of sun. Austin gets about 300 days of sunshine a year! 

The area has been a home to people ever since 9200 BC and it's still going strong. 

Keep on reading to learn more about what it's like to live in Austin. 

Chapter 2: ​​Cost of Living in Austin

The cost of living in Austin doesn’t veer too greatly from the U.S. average.

Although it does cost more to live here versus the rest of Texas, the average income makes up for it. 

The cost of living in Austin is about 3% lower than the national average. When comparing it to the Texan average, it's about 6% higher. 

Keep reading if you want to know more about the costs associated with living in Austin!

Average Income in Austin

The median household in Austin is around $71,576. For an individual, the yearly average income is around $43,043. 

The income in Austin tends to be higher than in all of Texas. That comes as a benefit since the cost of living is higher. 

Additionally, in 2021, Austinites experienced a 10% increase in their average annual wages. That's pretty much unheard of!

Average Cost of Items in Austin

Here's the lowdown on the cost of items in Austin. Some expenses are more costly while others are A LOT cheaper. 

The housing and transportation costs are a little higher than the Texas average. On the flip side, utilities and groceries are a whole 12% lower than the US average. You got some major room for savings in that department!

Sales taxes in Austin are the typical 8.25%. Similar to other Texas cities, Austinites don't have to pay any state income tax!

Check out our chart, down below, on the average cost of items in Austin.

Chapter 3: Renting in Austin

Rental homes in Austin have become a hot commodity. Over the decade, rent has increased at a steady rate of 5% every year. However, this past year (in 2021), the average price increased a whole 24%. 

Currently, the average cost of rent in Austin is $1,660 per month. 

Rent for a studio apartment averages around $1,360. A 1-bedroom apartment will go for about $1,545, while a 2-bedroom unit is $1,925. 

There’s tons of apartments to choose from in Austin. If you’re interested in getting cashback on your rent and want some help navigating the rental market, check out Lighthouse!

Chapter 4: Best Neighborhoods in Austin to Rent 

Finding the best neighborhood in Austin to rent can be a little challenging. The city is very economically and culturally diverse. It also attracts many potential renters because of the lower cost of living and safety.

Find out which Austin neighborhood would best suit you as we discuss each one down below.

Most Affordable Urban Neighborhood: East Riverside

East Riverside is one of the most affordable neighborhoods in Austin. It’s a 10-minute drive from downtown and parking is always available. You can also find many local restaurants, grocery stores, and gas stations around. 

Its proximity to the University of Texas attracts students, young adults, and families. The average cost of rent for a 1-bedroom in East Riverside is around $1,150. 

Most Affordable Suburban Neighborhood: Cedar Park

Cedar Park is a very desirable neighborhood in Austin. Many large employers are situated here, such as Apple, Dell, and Cedar Park Medical Center. 

It has a classic suburban vibe, great for families and industry professionals. 

Although the area lacks urban amenities, it still has dining and shopping options. To top it off, its safety and affordability are unbeatable. The average cost of rent is $1,195 in this area.

Best for Urban Living: Downtown Austin

Downtown Austin is a great neighborhood for those who enjoy an urban lifestyle. 

It offers a booming job market, superb dining options, and a growing entertainment industry. This area also overlooks the scenic Colorado River.

Since it's Downtown Austin, rent prices are more expensive. You can find many working professionals and single individuals living in this location. 

Expect to find many small high-rise condos or modern apartments to rent. 

Best for Entertainment: East Austin 

East Austin packs a punch with its many entertainment and dining spots. Festival Beach offers festivals all year long. Attend events like the SXSW, Celtic Fest, and Texas Craft Brewers Festival. 

This is the perfect area for those who want to be near downtown but still want affordability. You can find a mix of property types to rent - from newer condos to more historic bungalows.

Best for Nature Lovers: Barton Hills

For fellow nature lovers, Barton Hills is the best living location in Austin. Lady Bird Lake, Barton Creek Greenbelt, and the 350-acre Zilker Park surround this area. 

This neighborhood features many botanical spaces, walking trails, and sculpture gardens. 

Public transportation is also easily accessible.

People who enjoy a vibrant cultural life, safety, and nature love this area.  

Best for Community Living: Mueller 

Mueller is a great neighborhood in Austin if you’re looking for a suburban-urban vibe. It’s a desirable location since it’s peaceful and quiet, yet only three miles from Downtown Austin. 

The area is great for working professionals and growing families. You can find Dell Children’s Medical Center, green spaces, and great schools around. 

It also has an award-winning urban village! Its parks, recreational areas, and shopping areas create a great sense of community. 

TL;DR - Conclusion

And so, this concludes Part 1 to our City Guide of Austin. Let's quickly summarize what was discussed. 

Austin is one of the fastest-growing cities in the US. It's got that classic Southern hospitality and tons of culture. The cost of living is slightly higher in comparison to the rest of Texas (6% higher), but income is also greater. Austin's got some really nice neighborhoods (East & Downtown Austin are the most popular). You can find a location for every type of lifestyle. 

If you’re moving to Austin and don't know where to start, look no further. Lighthouse is here for you. Our team of experts will help you find your perfect rental unit. On top of that, you can land up to $1,000 in cash back with your rent. 

Leave us a comment down below on which neighborhood you thought was the coolest part in Austin!

 

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