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Peter Tsai Photography/Getty Images May 18, 2022 Mia Taylor is a contributor to Bankrate and an award-winning journalist who has two decades of experience and worked as a staff reporter or contributor for some of the nation's leading newspapers and websites including The Atlanta Journal-Constitution, the San Diego Union-Tribune, TheStreet, MSN and Credit.com. Michele Petry is a senior editor for Bankrate, leading the site’s real estate content. Bankrate logo

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo

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Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money. Bankrate logo

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How we make money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Austin, the capital city of Texas, is known for its mild climate, abundance of outdoor activities and generally being a good place to live, work and play. The city is also recognized for its strong business environment. It’s home to several major corporate and regional headquarters, including Dell, Whole Foods, Oracle and Indeed. With its high quality of life and level of career opportunities, Austin has come to be known as a vibrant and creative city. : More than 40 percent of residents in the greater Austin region are between 18 and 44 years old, while in the metro Austin area, the median age is 33 years old. Here’s a closer look at life in the Texas state capital.

Stats for Austin Texas

Consistently in the United States, Austin receives top marks for its quality of life and job prospects, among other factors. Here are some of the city’s key statistics: Median household income: Per capita income: $44,829 Average salary: Unemployment rate: 3.3% Poverty rate: 12.5%. Median age: 33.7 years old is growing fast, and has been for several years now. In 2015, the state capital’s population passed the 2 million mark. In the decade ending in 2020, the city experienced a 33.7 percent increase in population. Between just 2018 and 2019 alone, the city experienced the second largest growth rate among the top 50 metropolitan locations in the U.S. According to Census Bureau data, 6.6 percent of the city’s residents in 2019 lived elsewhere one year earlier.

Housing costs in Austin Texas

Like many other parts of the country, the cost of housing in Austin has increased sharply in recent years. The current median home price in the metro area is a steep $550,000, according to 2022 data from the . That price represents a record-breaking 19.6 percent year-over-year price increase. These skyrocketing housing prices make the in Austin challenging. Sales prices have been increasing significantly for the past several decades: In 1991, the median sale price of a home in Austin was just $86,000. Texas has no state property tax. But run a high 2.17 percent — double the .

Rent prices

Median rental prices in Austin have also been climbing in recent years. Between January 2021 and 2022, prices increased 35 percent, . Only one other city in the country — Portland, Oregon — experienced a bigger increase. As of this January, the average rent in Austin was $2,245. Finding a rental is also very competitive in Austin, and it’s not unusual to find yourself in a bidding war with other potential renters. The increasing competitiveness of the rental market is being driven by people who might otherwise but cannot afford to do so with housing prices in the area also rising.

Transportation in Austin Texas

Austin can be a challenging place to be a commuter. In 2020, Austin-area commuters spent about , which was the seventh highest figure in the nation, according to a study from the Texas A&M Transportation Institute. Census Bureau data shows Austin residents spend about 25 minutes commuting to work. About 70 percent of commuters are driving alone — only a small fraction of Austin residents opt to carpool. The average cost of gas for Austin drivers is about $4.20 per gallon. Though it is used by only a small share of residents — just 3 percent — Austin does offer a network of operated by Capital Metro. The city is served by a network of bus routes, a MetroRapid Route and MetroRail. There are also bike share programs operated by Austin B-Cycle.

What to do in Austin Texas

In addition to the great weather in Austin, which encourages an active, outdoor lifestyle, there are many activities to keep residents and visitors entertained. After all, Austin is also known as the “Live Music Capital of the World.” Here are some of the top things to do in Austin:

1 SXSW

The legendary SXSW festival takes place every March in Austin. The event showcases films, music and speakers from around the world. Past headliners have included Michelle Obama and Willie Nelson.

2 Blanton Museum of Art

For art lovers, the Blanton is a must-see. The museum is known for its European painting collection, as well as its modern and contemporary art.

3 Barton Springs

With an average temperature of between 68 and 70 degrees, Barton Springs is a popular swimming spot in Austin. The water in the three-acre pool comes from underground springs.

4 Umlauf Sculpture Garden

As its name implies, the Umlauf is a garden filled with more than 270 sculptures. The works of art were donated to the city by 20th-century American sculptor Charles Umlauf and his wife, Angie.

5 Rainey Street

If you’re looking for great drinks, food or live music, don’t miss Rainey Street, which is lined with bungalows that have been converted to bars.

6 Lady Bird Johnson Wildflower Center

Located in nearby Hill Country, nature lovers won’t want to miss the Lady Bird Johnson Wildflower Center. The 284-acre attraction features gardens filled with native Texas plants. There’s also an arboretum.

7 Texas Capitol building

For history buffs, the free guided tours of the Texas Capitol building are a must-do. The building was designated a National Historic Landmark in 1986. Tours are offered seven days a week.

8 South Congress

Austin has a variety of unique neighborhoods, and the South Congress district is one of the best. It is known for its restaurants, boutiques, bars and, of course, live music.

9 Austin City Limits Music Festival

In a city that is legendary for its music, it should be no surprise that there are multiple festivals dedicated to showcasing it. The Austin City Limits festival takes place in Zilker Park and features more than 100 performances.

10 McKinney Falls State Park

Immerse yourself in nature within the city limits at McKinney Falls State Park. Visitors can hike, bike and even camp.

Moving to Austin Texas

Before moving to Austin, be sure to research its variety of unique neighborhoods to find the area that’s best for you, your family, your interests and your budget. There are a handful of popular neighborhoods located close to downtown, for example — ideal for those who want to live close to the city’s urban core or near an employer. Those with children will also want to look into local schools in preparation for a move to the city. There are plenty of — areas with low crime, good schools, parks and other outdoor amenities. If you’re planning to buy a home in Austin, it’s a good idea to research who know the area well. These professionals can help you find a neighborhood that meets all of your needs.

FAQ

What time is it in Austin Texas

The sprawling state of Texas spans two time zones — Central and Mountain. The majority of the state, including Austin, is located in the Central time zone.

What is the weather like

Austin is known for its pleasant, subtropical weather. The city has about 300 days a year of sunshine. The average temperature in November is 71 degrees, while in summer the temperature is frequently about 90 degrees.

What county is Austin TX in

Austin actually spans three different Texas counties: Travis, Hays and Williamson. Downtown Austin is located in Travis County.

Does it ever snow in Austin TX

Winters in Austin are mild, and while snow is rare, it does snow occasionally.

Where to stay when visiting

The city of Austin has a variety of distinct neighborhoods offering different attractions and features. The Rainey Street area is known for its bars and party scene, while budget-friendly visitors will want to look at downtown Austin, where hotels frequently offer deals, especially on weekends. Other popular areas include East Austin and South Congress.

What river runs through Austin TX

The 800-mile long runs through the city of Austin.

How far is it from Dallas

Austin is just under 200 miles away from Dallas, Texas, which is about a three-hour drive.

What is the population of Austin TX

The most recent data available, from 2020, puts Austin’s population at about 2.3 million people.

Bottom line

Even with rising home and rent prices, Austin continues to be one of the fastest-growing and most popular places to move to in the country. Transplants are attracted by the city’s pleasant climate, which allows for an active outdoor lifestyle. Austin’s abundant employment opportunities, as well as its vibrant arts scene, are still more reasons why the city continues to draw new residents year after year. By 2030, the city is expected to be home to more than 2.8 million people.
SHARE: Mia Taylor is a contributor to Bankrate and an award-winning journalist who has two decades of experience and worked as a staff reporter or contributor for some of the nation's leading newspapers and websites including The Atlanta Journal-Constitution, the San Diego Union-Tribune, TheStreet, MSN and Credit.com. Michele Petry is a senior editor for Bankrate, leading the site’s real estate content.

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