Build your monthly budget for Austin. The calculator is pre-filled with realistic local expenses, including $1,500 average rent, so you can see your savings rate against the 50/30/20 rule.
Last updated: May 2026 · Data: U.S. Census, BLS, IRS, state and city sources
Austin has a cost-of-living index of 119 (US average = 100). Housing is usually the largest line item, with average 1-bedroom rent near $1,500/month. The estimates below are pre-filled in the calculator and scaled to local costs.
| Expense Category | Typical Austin Amount |
|---|---|
| Housing (1-bedroom rent) | $1,500/month |
| Food (single person) | $425/month |
| Transportation | $525/month |
| Utilities & Internet | $170/month |
| Healthcare & Insurance | $320/month |
| Personal & Entertainment | $225/month |
| Recommended Savings | 15%+ of gross income |
| Emergency Fund Target | 3 to 6 months of expenses |
Austin is the Texas state capital and a fast-growing technology center nicknamed Silicon Hills, home to Tesla, Oracle, and a wave of relocated tech firms, the University of Texas, and a live-music and startup culture that has driven housing costs sharply higher.
| Local Metric | Austin (2026 estimate) |
|---|---|
| Metro population | 975,000 |
| County / jurisdiction | Travis County |
| Cost of living index (US avg = 100) | 119 |
| Regional living wage, single adult | $21.70/hour |
| Regional living wage, one earner supporting a family of four | $43.10/hour |
| Applicable minimum wage | $7.25/hour |
| Average rent, 1-bedroom | $1,500/month |
| Average rent, 2-bedroom | $1,900/month |
| Median home price | $550,000 |
| Median household income | $91,000/year |
| Combined sales tax rate | 8.25% |
| Effective property tax rate | 1.8% of value/year |
Local figures are 2026 estimates compiled from U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
With a cost-of-living index of 119 (US average = 100) and average 1-bedroom rent near $1,500/month, a single adult in Austin typically needs take-home pay of at least $5,900/month to cover needs and save. The regional living wage for a single adult is about $21.70/hour.
Split after-tax income into 50% needs (housing, food, utilities, transport, minimum debt), 30% wants, and 20% savings and extra debt payoff. In a high-cost city like Austin, the needs share often runs above 50%, so protect the 20% savings target.
Average rent in Austin is about $1,500 for a 1-bedroom and $1,900 for a 2-bedroom. A common guideline keeps rent under 30% of gross income, though that is difficult in higher-cost metros.
Based on the local cost-of-living index, typical monthly expenses in Austin run around $1,500 housing, $425 food, $525 transportation, and $170 utilities for a single person. The calculator is pre-filled with these estimates.
Aim for three to six months of essential expenses. In Austin, with monthly needs around $2,940, that is roughly $8,820 to $17,640.