In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Here we can see a simple outline of the cost of living in Austin, TX. As you can see, with the average cost of living in Austin, TX being 107, that puts it 18% higher than the average of Texas and 7% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Austin, TX, the price of goods and services are 8% higher than the average of Texas as well as 1% higher than the nation's average.
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Did you know?
The cost of living in Austin is 18% higher than the Texas average.
The cost of living in Austin is 7% higher than the national average.
The cost of housing in Austin is 33% higher than the national average.
Texas general sales tax is 23% higher than the national average.
Texas state income tax is 100% lower than the national average.
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator allows you to compare how much your current salary in Austin, TX would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Austin, TX, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Austin, TX salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
The affordability of the housing market in Austin, TX as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Austin, TX homeowners, the median income is $92,148. This indicates that a monthly maximum of $2,150 should be spent by homeowners on all housing related costs. Renters have a median income of $42,935. This indicates that renters should have a maximum of $1,002 used for their rent related monthly costs.
Texas Sales Tax
General Sales Tax
With Max Surtax
Texas Income Tax
Income Tax (Low)
Income Tax (High)
When assessing the complete cost of living in Austin, TX, the Texas income tax and the Texas sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Texas maximum surtax is 8.25%, and the Texas sales tax is 6.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Texas.
Goods & Services
Avg. Mortgage Payment
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.