austin apartments / housing for rent "san marcos" - craigslist (2024)

FAQs

Is rent expensive in Austin? ›

When you rent an apartment in Austin, you can expect to pay about $1,248 per month for a studio, $1,450 for a one-bedroom apartment, and around $1,859 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,365 or more. $1,248/mo.

"Rents came up to this high level and pretty much hung out around there as the labor market has continued to be relatively strong," Jones told Newsweek. "Demand for rentals has remained relatively strong because buying a home is so unaffordable that keeps some demand in the rental market."

223,564 or 55% of the households in Austin, TX are renter-occupied while 180,557 or 45% are owner-occupied.

In order to live comfortably in Austin, a family of four would need an annual salary of $87,105 or monthly earnings totaling approximately $7,259. On the other hand, for single individuals living there, it requires about $42,755 per year, which comes out to around $3,563 each month.

Current Minimum Wage in Austin

As of January 2023, most workers' minimum wage in Austin is $15.00 per hour. This rate is set by the City Council and applies to all businesses operating within city limits. However, there are some exceptions to this rate.

Rental demand remains high in Austin, but oversupply has left landlords no choice but to lower rents. The city has experienced unprecedented population growth over the past decade, especially during the initial years of the pandemic.

After a pandemic spike, rents in the Austin area have been falling for a year. Between May 2023 and 2024, average monthly rents in Austin and surrounding counties fell 6%. These prices reflect what's called "effective rent." That's the rent paid including any discounts, such as a free month of rent.

According to Austin ECHO, a January 2023 point-in-time count indicated a homeless population of about 2,300 people. The Austim Homeless Strategy office presented new data from ECHO in which the non-profit estimated in October there were about 6,600 homeless people in the city.

Compared to other major U.S. cities, Austin's cost of living is more economical, with a cost of living index of 97.8 which is below the national average. Additionally, while average salaries may be lower, they are often offset by the city's lower living expenses.

The cost of living in Austin is between 12% and 32.3% lower than it is in Los Angeles.

What is a good salary in Austin? ›

“Anyone who has schlepped groceries home from the store in NYC knows the pain,” says Jaffe. To be sure, overall, it's still more expensive to live in NYC than Austin: According to Sperling's Best Places, New York is 56.9% more expensive than Austin, and in general New York housing costs are 84.4% more expensive.