AUSTIN, Texas — The overall cost of living in Austin is above the national average, according to data gathered and analyzed by Apartment List.
Apartment List analyzed prices of specific goods and services in Austin compared to the average prices across the country. From there, the prices were aggregated and weighted into six groups, which were again aggregated into a single top-line cost of living stat.
The analysis found that the overall cost of living is 1% higher in Austin than the national average.
"In the case of Austin, overall cost of living is on par with the nation as a whole. But it appears to be a bit of a tradeoff between high housing costs (which are 18% higher in Austin than the rest of the USA) offset by lower costs for other day-to-day items. In particular, groceries are cheaper in Austin than in all but 5 other cities," said Rob Warnock, senior research associate for Apartment List.
On the pricier side, in addition to housing, health care is also 1% higher in Austin. But on the cheaper side, in addition to groceries, transportation is 10% cheaper than average and utilities are 3% cheaper.
Overall, Warnock said he thinks the data speaks to Austin's recent popularity.
"Relatively low cost-of-living has attracted new residents and the city has grown rapidly," he said. "But, of course, this has put strain on the housing market and, in return, home prices and rents have both increased quickly."
Earlier this month, Apartment List announced that in 2022, Austin officials approved more new housing permits than any other metro in the country.
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