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. As at June1, 2016 the population in
Austin was 931,830. Why are people flocking
to Aus-tin? Could it have something to do
with the fact that it was named the 2nd
among America’s top states for business by
CNBC in July, 2016? Maybe it’s the 36. 8 park
acres per 1,000 residents, the great air quality,
or the low 2.6% unemployment rate at a time
when the national unemployment rate is
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© Kimberly Davis
Photo courtesy of Amli Residential
4.9%. 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 considerably
lower than most big cities, as well as the
national average. Sitting at a cost of living
index of 70. 39 (with the national average
being 100), Austin is a very affordable 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 $4,828. Home prices, however,
have increased 7.9% over the last one year,
compared to a national average of just 5.5%.
IN TIP-TOP SHAPE
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.
Energy e;ciency upgrades to your property give
you a competitive edge by making your community
e;cient and healthy. Learn how to lower your
energy and water bills today.
Contact us for your free, initial assessment.
So what can you expect to pay for an
apartment in Austin?New one bedroom
apartments in the suburbs run about $791-
$1,110. Two bed-rooms range anywhere
from $1,499 to $1,599, and three bedrooms
from $1,821 per month. How much for a one
bedroom in Downtown Austin? Upwards of
$1,500 —if you can find one that’s available.
A City of Austin Program
The Austin apartment market is a competitive one. While the city’s population has