Moving across the country — or even just
across the state — can be a huge decision. The solemnity of saying goodbye to
friends and family, mixed with the excitement of starting a new life somewhere
else, can leave you at your wit’s end.
Making decisions about where and how
to live your new life can be downright
frightening. Finding a place to call home
is challenging in any city, but with a little
knowledge and a little help, transplants
to Austin have some pretty good odds of
doing just that.
THE APARTMENT MARKET
Austin is one of America’s fastest growing
cities. Since the year 2000, Austin’s population has increased by over 150 percent.
Why are people flocking to Austin? Could
it have something to do with the fact that
it was named the 12th Best City to live in
by Business Week and Bloomberg in 2011?
Maybe it’s the 36. 8 park acres per 1,000
residents, the great air quality, or the low
3.8% unemployment rate at a time when
the national unemployment rate is 6.3%.
Perhaps it’s the amazing music, nightlife,
and culture, as some Austinites insist.
Whatever it is about Austin that brings
flocks of new residents to the area each
year, one thing is certain: most of those
new residents will be renting apartments,
at least for their first six months to a year.
The cost of living in Austin is consider-
ably lower than most big cities, as well
as the national average. Sitting at a cost
of living index of 95. 4 (with the national
average being 100), Austin is a very afford-
able place to live. There are no personal
or corporate income taxes in the state of
Texas, and the average annual state and
local taxes in Austin are $3,440 — almost
$600 below the national average. Home
prices, however, have increased 6.6% over
the last two years, compared to a national
average of just 2.2%.
What does all that mean? It means that,
while Austin is an inexpensive place to
live, owning a home in Austin isn’t within
everyone’s reach. Renting an apartment is
an excellent alternative. Apartments offer
Austinites “lifestyle, convenience, and
flexibility,” according to Tiffany Walters,
Senior Marketing Manager of Greystar
Real Estate Partners in Austin. In addition, apartment renters can usually afford
better amenities than they might in a
single family home.
So what can you expect to pay for an
apartment in Austin? “New one bedroom
apartments in the suburbs run about $885
for a 650 sq. ft. apartment,” says Michael
Reeh, owner and founder of Apartments
HERE!, an Austin apartment locator
service. Two bedrooms range anywhere
from $1,000 to $1,400, and three bedrooms
from $1, 200 to $1,800 per month. How
much for a one bedroom in Downtown
Photos courtesy of ARIA Steiner Ranch
877 335 3321
4800 Steiner Ranch Blvd.
Austin, TX 78732
refined apartment living