Austin is the state capital of Texas, but it's a lot more than just the home of Texas politics. The city has long been a bastion for free spirits willing to push artistic boundaries. From famous venues like Austin City Limits to corner bars known only to locals, Austin's 250 live venues show why it's earned the moniker of The Live Music Capital of the World. If anything in Austin rivals music in drawing power, it's Longhorns football at the University of Texas. Austin is a dynamic city that presents residents with lots of opportunities.
Austin, TX is a great place for affordable rent-to-own homes! With a median household income of over $75,752 and a median rent of $1,346, the Austin, TX rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Austin, TX. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Austin, TX is seeing rapid growth and Austin, TX's' housing market remains not optimal with an average home price that is 65% above the 2023 national average. Austin, TX is part of Travis county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Travis is 1.98% which is above the national average, which is 0.99%.
Housing Statistics Housing Heating Up
The average cost of living in Austin, TX, is $4,806.13 for a family of four and $2,517.61 for a single person.
In Austin, TX, the average cost is $575,000, which is above the national average of $295,300.
If you're interested in Austin rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Austin statistics compared to the U.S. national average.
|Austin Averages||National Averages|
|One-Way Commute||24.1 minutes||27.1 minutes|
|Income Tax Rate||No income tax||4.6%|
|Air Quality||AQI 40||AQI 40|
|Median Household Income||$71,576||$79,900|
|Median Property Taxes||$0.5335/$100||$2,471|
|Median Home Cost||$575,000||$295,300|
|Median Home Age||31 years||37 years|
There is an incredible variety of music that can be enjoyed every night of the week in Austin. Music festivals fill the calendar, with the most famous being South by Southwest. But it's not just music at SXSW. There are also film and interactive media components, as well. Blues on the Green and Unplugged at the Shady Grove are two big summer-long music festivals that are free to attend. Foodies can enjoy festivals centered around hot sauce, wine, and chocolate. The Austin Film Festival, Moonlight Margarita Run, Celtic Festival, and Ice Cream Festival are just some of the other great Austin events.
While the arts scene in Austin might not be as established as in some cities, it is coming on fast. A bevvy of art studios offer up contemporary and traditional works. Art City Austin is an annual event celebrating multiple genres. It draws over 15,000 art lovers to downtown Austin each season. The Long Center for the Performing Arts brings stage productions to life. The North Door on East Fifth delves into less mainstream offerings. Nightclubs pump up the dance spirit and neighborhood pubs provide conversation over a good brew. Coffee shops with poetry readings and spoken-word events compete with country joints and sports bars. For people young and old looking for a town that satisfies their desires for a variety of cultural experiences, Austin is the best choice within hundreds of miles.
When moving to Austin, it's a good idea to research the many neighborhoods and then decide which fits your lifestyle the best. In a city so diverse, there truly is something for everyone.
Austin's violent crime rates are well below the national average, but property crimes in Austin are slightly above the national average.
Yes, Austin, TX, is part of the Central time zone.
Austin is well known for many things but is most famous for being the "live music capital of the world" due to the high volume of live music venues and performances in the city. In addition, Austin, TX is the home of the famous Franklin Barbecue which is considered to be some of the best barbecue in the United States and has won numerous awards and competitions.