Cost of Living in Austin, TX (2026): What Renters Should Budget

Updated November 2026. Rent figures reflect October 2026 estimates from Apartment List's November report.

Austin rents a little below the national median and the gap is holding: according to the Apartment List November 2026 Rent Index, the median rent across all apartment sizes in Austin is $1,323, about 4% below the U.S. median, and rents are still declining slowly on the year.

The bigger budget questions in Austin sit outside rent: a summer electricity bill, whether your address needs a car, and how the building bills water. The table below carries the bedroom medians, utility estimates, and transit fares, and the sections after it show which of those lines you can confirm before you sign.

Austin Cost of Living at a Glance

Source for rent rows: Apartment List's November 2026 release; October 2026 rent estimates. Full method and sources are in the appendix.

How to use these numbers: Start with the rent for the unit size you're considering. Add the planning estimates that apply to you, then replace them with listing-specific charges and your expected usage.

What Is the Median Rent in Austin in 2026?

The median one-bedroom rent in Austin is $1,172, two-bedrooms run $1,426, and the all-sizes median is $1,323, according to the Apartment List November 2026 Rent Index. Apartment List reports the median, the market midpoint, rather than an average; its methodology describes it as the rent an apartment searcher could expect across the full rental market.

Rents are declining slowly: the median fell 1.33% over the 12 months through October 2026 and 0.20% in October alone, while the national median was essentially flat. For a renter that makes these medians a fair benchmark for a listing you see this month, and the concession is the lever to ask about: 57.8% of Austin properties offered a concession worth at least one month of free rent in October 2026 (Apartment List concession rate), up from 53.8% in May.

How Does Austin Rent Compare With Other Texas Cities?

Austin, Dallas, and Fort Worth are priced about the same on the all-sizes median; the real savings in Texas are in San Antonio, El Paso, and, to a lesser degree, Houston.

Source: Apartment List's November 2026 release; October 2026 rent estimates. City-level medians, not total-cost comparisons.

The three close cities trade places by unit size: on one-bedrooms Dallas runs $35 above Austin and Fort Worth $31 below, so compare the size you are shopping rather than the headline. A lower rent in another city is a rent difference only; price the commute and utilities there before treating it as savings. The Dallas and Houston guides cover those budgets.

Within the region, Austin's median is $27 above the Austin-Round Rock-Georgetown metro's $1,296 on all sizes and $33 above on one-bedrooms. The metro figure includes Austin itself alongside Round Rock, Georgetown, and surrounding communities, so it does not price any one suburb.

What Salary Do You Need to Rent in Austin?

Using the $1,172 median one-bedroom rent from Apartment List's November 2026 report, a rent-only budget of 30% of gross income needs about $46,880 a year.

Source: Apartment List's November 2026 release; October 2026 rent estimates. The shared row is half of the two-bedroom median. The calculation is in the appendix.

The 30% figure is a housing allowance for rent and utilities together, the share the U.S. Department of Housing and Urban Development (HUD) considers affordable, so the table is a starting point rather than a full housing budget. To use it: take 30% of your gross monthly income, set aside the utilities and required housing charges you will pay separately, and what remains is the base rent you can carry. Then test the whole monthly budget against take-home pay, debt, and savings goals. This calculation is a budgeting benchmark; each property sets its own income and screening requirements.

Apartment List research found that 51.8% of U.S. renter households spent more than 30% of income on housing costs including utilities in 2024, a national figure rather than an Austin one. Our guide to the 30% rule and how much to spend on rent walks through when to flex it.

Texas does not levy a state income tax on wages (Texas Comptroller), so the incomes above are not reduced by a state wage tax; federal income and payroll taxes still apply.

How Do You Know if You Can Afford an Austin Apartment?

A $60,000 salary gives a $1,500 monthly housing allowance. After about $77 for electricity, the base-rent ceiling is about $1,423: $251 above the one-bedroom median and $3 below the two-bedroom median. That $251 is room for housing costs this example has not priced, such as a water charge or parking, not spare money. The Rent Calculator sets a starting budget from your income, location, and bedroom needs.

What Should You Budget for Beyond Rent in Austin?

Price the costs that apply to you, then confirm which charges the building bills separately.

How Much Does Electricity Cost in Austin?

Budget about $77 a month if you hold your own Austin Energy account, which is the normal arrangement in an individually metered apartment. That is an illustrative allowance at 500 kWh on the inside-city residential rate effective October 1, 2026, before the 1% city sales tax; it is a usage scenario, not an average apartment bill. Your bill differs with summer cooling, the size and insulation of the unit, and whether heat is electric, and the energy rate steps up above 900 kWh. Ask the property what a recent August bill came to on a comparable apartment.

How Much Are Water and Wastewater Bills in Austin?

Most Austin apartments do not hold their own Austin Water account; the property is billed on the multifamily rate and passes the cost through rent, an allocation, or a submeter, so there is no single renter estimate. Your charge depends on which arrangement the lease uses and, for a submeter, on your use. Ask whether water and wastewater are included in rent, allocated, or submetered, and ask what a recent month's charge was on a comparable unit.

How Much Is Public Transit in Austin?

A daily commuter on CapMetro local buses and Rapid pays the $41.25 monthly cap; single rides are $1.25, and Rail and Express cost $3.50 a ride with a $96.25 monthly cap. Fares rise on January 10, 2027, to $1.50 a ride and a $49.50 monthly cap. Coverage varies sharply by neighborhood, so check the route and schedule for the specific apartment before you count on transit replacing a car.

How Much Should You Budget for Groceries in Austin?

About $441 a month for one adult under the national USDA Moderate-Cost plan, September 2026 report. That is a food-at-home planning benchmark, not an Austin price, so adjust it for your household and how often you eat out.

How Do Solo and Shared Austin Budgets Compare?

Source: Apartment List's November 2026 release; October 2026 rent estimates. This illustrative partial budget covers rent, electricity at 500 kWh, and groceries per person. The shared column splits one two-bedroom and one electric bill equally between two renters, an assumption because a two-bedroom's usage may differ from a one-bedroom's. Groceries do not split.

Splitting a two-bedroom equally costs $459 a month less per renter in rent than a one-bedroom on your own, about $5,500 a year, and about $498 less once the shared electric bill is included. The two-bedroom median is $254 above the one-bedroom median, but each median is the midpoint of a different pool of apartments, so the step is not the price of adding a bedroom in one building.

Monthly Costs Outside This Example

Compare Austin With Your Current City

If you are moving to Austin from somewhere else, compare total cost rather than rent alone. The Apartment List Cost of Living Calculator compares two cities using after-tax household income.

What Should You Check Before Applying for an Austin Apartment?

An application fee is an up-front charge for screening your application, separate from a security deposit and any one-time move-in fee. Before you pay one, run three checks:

1. Base rent and charges: compare the listing's rent with your base-rent ceiling, then add its monthly charges (parking, pet, and any utilities the property bills) to the full budget you test against take-home pay.

2. Move-in total: get the amount due at signing in writing, including the security deposit, the application fee, and any administrative or one-time move-in fees.

3. Open questions: ask how water and wastewater are billed, whether the unit is individually metered for electricity, and whether parking is included.

Apartment List is free for renters to use. Confirm any application, administrative, or move-in fees directly with the property.

How Do You Find Lower Rent in Austin?

Rent varies by neighborhood. The Austin neighborhood guides cover price, fit, and published safety data:

• Cheapest neighborhoods in Austin

• Best Austin neighborhoods

• Safest Austin neighborhoods

Rate My Rent evaluates a specific apartment's price against comparable local listings.

Can You Plan an Austin Budget Around the Median?

Yes, as a starting point. The lines that change an Austin budget from one building to the next are summer electricity, how water is billed, and whether your address needs a car, so confirm those three before you treat a rent as affordable.

If a cheaper listing would require a car you would not otherwise need, price the driving costs before you count the rent saving; if your commute is on a CapMetro corridor, the monthly cap is the figure to compare. When a listing's rent and charges fit your ceiling, browse Austin apartments and run the same check on real listings.

Appendix: Methodology and Data Sources

Apartment List rent figures throughout this guide come from the Apartment List Rent Estimates, November 2026 release, with data as of October 2026.

Rent. November 2026 release, October 2026 estimates. Austin figures are citywide medians; metro figures cover Austin-Round Rock-Georgetown, TX, and the two are labeled separately wherever both appear. The concession rate is the share of properties offering a concession worth at least one month free and is not reflected in the medians.

Calculations. Annual income = monthly rent × 12 ÷ 0.30, rounded to the nearest $10. Shared rent assumes two equal shares of the two-bedroom median ($713 each). Modeled utility splits are illustrative, and groceries are per person and do not split.

Budget assumptions. The illustrative partial budget covers rent, electricity, and groceries. Electricity is a budget allowance at 500 kWh on Austin Energy's inside-city residential rate, before the 1% city sales tax, not an exact tariff-derived bill. Water and wastewater are excluded because most apartments are billed through the property. Transportation, internet, phone, insurance, parking, and move-in costs are excluded. Groceries use the September 2026 USDA Moderate-Cost plan for one adult, averaging the adult female and male figures and applying the 20% single-person adjustment.

Frequently Asked Questions About Austin Rent and Cost of Living

What Is the Average Rent in Austin?

According to the Apartment List November 2026 Rent Index, the median all-sizes rent in Austin is $1,323, with one-bedrooms at $1,172 and two-bedrooms at $1,426. Apartment List reports a median rather than an average, because a median better represents a typical apartment and is less distorted by a handful of luxury units.

Is Austin Cheaper Than Dallas or Houston?

Not than Houston, and Dallas is a tie. According to the Apartment List November 2026 Rent Index, Austin's all-sizes median of $1,323 is $2 above Dallas and $58 above Houston, while on one-bedrooms Dallas runs $35 above Austin.

Is Austin Rent Above or Below the National Median?

Below. According to the Apartment List November 2026 Rent Index, Austin's all-sizes median of $1,323 is $61 under the national median of $1,384, about 4% lower, and Austin's median fell 1.33% over the 12 months through October 2026 while the national median was essentially flat.

What Salary Do You Need to Rent in Austin?

Using the $1,172 median one-bedroom rent from Apartment List's November 2026 report, a rent-only budget of 30% of gross income needs about $46,880 a year, and the $1,426 two-bedroom about $57,040. These are budgeting estimates; each property sets its own income and screening requirements.

How Much Are Utilities in Austin?

The example budget allows about $77 a month for electricity at 500 kWh, before tax. Your actual bill will depend on usage and applicable charges. Water and wastewater are usually billed through the property, so confirm whether they are included in rent, allocated, or submetered.

Is 30% of Income a Hard Limit for Rent?

No. It is a planning benchmark, and HUD treats housing costs above 30% of income, including utilities, as cost-burdened; Apartment List research found that 51.8% of U.S. renter households spent more than that in 2024.

How Do Solo and Shared Austin Budgets Compare?

At the October 2026 medians, a two-bedroom costs $713 per renter if two people split the rent equally, against $1,172 for a one-bedroom on your own, a difference of $459 a month before utilities and fees (Apartment List, November 2026 report). With electricity and groceries added, the illustrative partial budget is about $1,690 for a solo renter and about $1,193 per roommate.