Is Austin Texas expensive to live? Austin’s housing expenses are 12% higher than the national average and the utility prices are 5% lower than the national average. Transportation expenses like bus fares and gas prices are 14% lower than the national average. Austin has grocery prices that are 8% lower than the national average.
Is Austin still a good real estate investment? Home values in Austin have increased by 29.4% over the last year. Over the past five years home values in Austin have increased by 99%. Median sales price for a home in Austin is $550,000 based on the most recent report from the Austin Board of Realtors.
Is it better to rent or buy in Austin? Monthly rent is cheaper than monthly housing costs with a mortgage in Austin, study finds. The Lending Tree study found that, on average, it is $636 less per month to rent a house than own one in Austin until the mortgage is paid off.
Is buying a house in Austin a good idea? Austin’s median home value is around $590,000. If you look at your gross costs, equity, and investment potential; it’s better to buy a house in Austin than rent if you plan to live there for three years or more. Growing equity means increasing your wealth.