Quick facts: Austin, tx

Quick Facts

105.3
Cost of Living
above US average
974,447
Population
40.91
Crime Rate per 1000
above US average
$86,556
Median Income
above US average
$420,000
Median House Price
above US average
$1962.74
Average Rent
above US average
15%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $86,556.

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Income Needed to Buy

βœ— Stretch
$132k/year
Based on $420,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $132k vs median $86,556
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Income Needed to Rent

βœ“ Affordable
$84k/year
Based on $1962.74/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($86,556) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Austin, tx

Austin, Texas, is the vibrant capital of the state known for its eclectic culture, live music scene, and thriving tech industry. Nestled in the picturesque Texas Hill Country, Austin features a blend of urban life and outdoor activities, making it attractive for residents and visitors alike. The city is famous for its motto, "Keep Austin Weird," promoting local businesses and artistic endeavors. Austin hosts numerous music festivals, including the renowned South by Southwest (SXSW) and Austin City Limits (ACL), attracting artists and music lovers from around the globe. The city's culinary scene is equally impressive, with a diverse array of eateries ranging from food trucks to upscale restaurants, emphasizing Texas barbecue and Tex-Mex cuisine. Outdoor enthusiasts can enjoy the numerous parks, trails, and lakes, including the scenic Lady Bird Lake and the extensive Butler Hike-and-Bike Trail. Austin is also home to major educational institutions, such as the University of Texas at Austin, contributing to its youthful and dynamic atmosphere. Known for its booming economy, friendly residents, and progressive culture, Austin is a top destination for those seeking a lively and welcoming environment.

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