As the capital of Texas and one of the fastest-growing cities in the United States, Austin has become a popular destination for professionals seeking career opportunities, affordable living, and a high quality of life. With its rapid economic growth and booming tech industry, Austin has become a magnet for professionals in all sectors. Cities like San Francisco, New York, and Boston are known for their high cost of living, and many professionals are seeking more affordable, yet thriving, alternatives. Austin offers that balance and the city’s quality of life is a major draw.
What Does It Cost to Relocate to Austin, Texas?
In our latest cost-of-living comparison using data from our Relocation Assessor, we examine a family of four relocating to Austin, Texas, from three other major U.S. locations. These analyses are meant as one-to-one comparisons based on replicating a typical lifestyle with an annual salary of $150,000 in each area. We assume that this family owns a 1,200 square foot home with 2 automobiles valued at $80,000. Calculations do not include moving costs. In addition to the total cost-of-living comparison, we have provided differentials for each of the major expenditure pattern components: consumables, transportation, health services, and housing.
Moving to Austin from California
Replicating a typical lifestyle in San Francisco, California, earning an annual salary of $150,000 only requires you to make $66,993 in Austin, Texas. This makes Austin about 55% less expensive than San Francisco, with housing in Austin costing 67% less. Moving to Austin from California means more affordable transportation, housing, food, and health costs.
Moving to Austin from Massachusetts
When moving to Austin from Boston, Massachusetts, you should be making at least $132,155 to maintain the same standard of living. Housing in Austin costs 27% less than housing in Massachusetts.
Moving to Austin from New York
Not surprisingly, New York is significantly more expensive than Austin, Texas. With housing prices 65% higher than in Austin, you will only need to earn $75,313 to maintain the same standard of living in Austin.
How Expensive Is It to Live in Austin, Texas?
Our Austin, Texas, cost-of-living comparisons show why professionals may be seeking relocation to Austin as it offers more affordability overall compared to the other major U.S. cities. Austin is also the least expensive of the cities analyzed when comparing the cost of living to the national average. Although the cost of moving to Austin depends on a lot of factors, understanding the cost of living between cities and how expensive they are compared to the national average can help you make informed decisions on relocation, salary planning, and budgeting.
Why Use ERI?
Cost-of-living differentials are essential to compensation planning and are used to evaluate business or employee relocation, expansion, or remote work. Our Assessor Platform can help you easily compare cost of living among cities and analyze cost-of-living differentials based on earnings level, home size, home ownership or rental, family size, number of autos, and automobile value.
