Cost of Living
Texas consistently ranks as one of the nation's most favorable business climates based on its low tax burden and competitive regulatory environment. In Texas, aggregate costs for real estate, energy, wages and taxes are below most states in the country.
Compared to other major business centers, Austin is well known for offering affordable living. The National Association of Realtors reports that the median home price in Austin was $193,600 in 2010 while the national median was $173,200. The National Association of Home Builders, which also produces median home price estimates, has a narrower difference between Austin and the nation. Their fourth quarter 2010 estimate for Austin is $184,000 and the national estimate is $175,000. NAHB estimates that 74.6% of homes sold in Austin are affordable to families earning Austin’s median family income – similar to the 73.9% national affordability rate.
Texas features no personal or corporate income tax, and overall the state has one of the lowest state and local tax burdens in the nation, ranking 41st among the 50 states in taxes paid per $1000 of personal income.
Cost of Living Index
Cost of Living Index, 2010 (U.S.=100)
| Composite | Grocery (13%) | Housing (29%) | Utilties (10%) | Trans- portation (12%) |
Health care (4%) | Misc. (31%) | |
| Atlanta | 95.6 | 96.2 | 90.7 | 86.3 | 99.3 | 103.3 | 100.3 |
| Austin | 95.5 | 89.3 | 85.1 | 110.7 | 100.2 | 100.3 | 100.4 |
| Boston | 132.5 | 116.7 | 152.7 | 138.6 | 104.5 | 123.5 | 128.6 |
| Chicago | 116.9 | 111.2 | 134.8 | 117.3 | 116.5 | 108.5 | 104.4 |
| Dallas | 91.9 | 96.2 | 70.7 | 105.5 | 100.9 | 103.8 | 100.4 |
| Denver | 103.2 | 101 | 107.5 | 101.9 | 95.4 | 105.9 | 102.7 |
| Los Angeles | 136.4 | 106 | 207.1 | 101.7 | 113.6 | 109.1 | 107 |
| NY (Manhattan) | 216.7 | 154.3 | 386.7 | 169.6 | 120.3 | 130.2 | 145.7 |
| Phoenix | 100.7 | 108.1 | 90.4 | 96.6 | 108.9 | 108.8 | 104.6 |
| Raleigh | 98.2 | 104.2 | 88.8 | 105.6 | 96.7 | 101 | 101.9 |
| Salt Lake City | 100.6 | 100.1 | 108 | 72.5 | 102.1 | 98.8 | 102.9 |
| San Francisco | 164 | 111.9 | 281 | 94.5 | 113 | 117 | 124.3 |
Cost of Living Index, 2010
Cost of Living Calculator
Source: The Council for Community & Economic Research, ACCRA Cost of Living Index.
Home Prices
Median Sales Price, Existing Single-Family Homes
| 2008 | 2009 | 2010 | Annual percent change | ||
| 2008-2009 | 2009-2010 | ||||
| Austin MSA | $188,600 | $187,400 | $193,600 | -0.6% | 3.3% |
| United States | 196,600 | 172,100 | 173,300 | -12.5% | 0.7% |
Note: Time series of annual and monthly numbers for home prices and other housing market indicators are updated monthly on the Chamber's Economic Indicators page.
Source: National Association of Realtors.
Average Home Price, Middle Management Housing, 2010
Note: The subject home type is a single-family dwelling model with approximately 2,200 sq.ft., 4 bedrooms, 2 1/2 baths, family room (or equivalent) and 2-car garage. Surveyed homes and neighborhoods are typical for corporate middle-management transferees. Where Coldwell Banker reports multiple submarkets for a metro, the price indicated is an unweighted average of the reported submarkets.
Source: Coldwell Banker.
Downloadable Home Price Maps
Tax Burden
Tax Burden, 2009
| Texas | United States | |
| State & local taxes per capita, total | $3,477 | $4,144 |
| Property | 1,460 | 1,382 |
| Sales | 1,608 | 1,413 |
| Individual income | 0 | 882 |
| Corporate income | 0 | 150 |
| Other taxes | 408 | 317 |
| State and local taxes per $1000 of personal income | 95 | 107 |
State & Local Taxes Per Capita, 2009
Source: U.S. Bureau of the Census, State & Local Government Finances.
The Austin Profile
Click for translated version
- Resources
- There is a spreadsheet version of the data on the page
(xls). - Several of the types of data on this page are also available in the Economic Indicators section, which is updated monthly.
The Congress Ave Bridge over Lady Bird Lake is home to the largest urban bat colony in North America.
