What it costs to live comfortably in Austin depends on your household and your housing. Below are current, sourced numbers for the Austin area: what MIT's Living Wage Calculator estimates for basic needs, what homes and rentals actually cost according to Unlock MLS, and how to build your own "comfortable" budget.
Key Numbers at a Glance
- $49,322 a year before taxes: MIT's basic-needs income for one working adult in the Austin-Round Rock-San Marcos metro ($23.71 an hour).[1]
- $570,958: City of Austin median residential sale price, September 2026, up 4.2% year over year.[2]
- $421,000: Austin-Round Rock-San Marcos metro median sale price, September 2026.[2]
- $2,195 a month: City of Austin median MLS lease price, September 2026, down 4.4% year over year.[2]
- $41.25 a month: CapMetro local monthly fare cap ($1.25 a single ride). CapMetro has announced a fare increase for January 10, 2027.[3]
What MIT Says Basic Needs Cost in Austin
MIT's Living Wage Calculator estimates the pre-tax income a household needs to cover basic needs (food, housing, transportation, medical care, internet and mobile, and other essentials) with nothing left for savings or extras.[1]
| Household (Austin metro) | Living wage, hourly | Required annual income before taxes |
|---|---|---|
| 1 working adult | $23.71 | $49,322 |
| 2 adults, both working | $15.74 each | $65,499 (household) |
MIT also publishes figures for other household sizes on the same page.[1] For one adult, MIT's annual budget includes $17,779 for housing, $9,016 for transportation, $4,047 for food, $3,075 for medical, and $1,509 for internet and mobile. That's a floor, not "comfortable."[1]
From "Basic" to "Comfortable": the 50/30/20 Method
A common way to define "comfortable" is the 50/30/20 budget: 50% of take-home pay for needs, 30% for wants, and 20% for savings. MIT puts one adult's after-tax basic-needs requirement in the Austin metro at $42,077.[1] If those needs are to be only half of take-home pay, that works out to about $84,000 a year after taxes. This is our arithmetic on MIT's figures, not a published survey number, and your own figure depends mostly on your rent or mortgage.
Housing: Your Biggest Line Item
Buying
In September 2026 the City of Austin's median sale price was $570,958. The city had 5.4 months of inventory, and homes closed at an average 92.5% of list price.[2] Prices vary widely across the region:
| Area (September 2026) | Median sale price |
|---|---|
| City of Austin | $570,958 |
| Travis County | $497,400 |
| Austin-Round Rock-San Marcos metro | $421,000 |
| Hays County | $399,900 |
| Williamson County | $395,000 |
Source: Unlock MLS.[2] On top of the mortgage, budget for property taxes, homeowners insurance, and any HOA dues. Ask your lender for these on a specific home. Use our mortgage calculator to turn a price into a monthly payment, or browse Austin homes by zip code.
Renting
The City of Austin's median MLS lease price was $2,195 in September 2026 (metro: $2,100), and active lease listings in the city were down 31.7% from a year earlier.[2] MLS leases are mostly houses, townhomes and condos, so apartment-complex rents can differ. See houses for rent in Austin.
Transportation
MIT budgets $9,016 a year for transportation for one adult in the Austin metro.[1] If transit works for your commute, CapMetro local fares are $1.25 a ride, capped at $2.50 a day and $41.25 a month. Express and rail are $3.50 a ride and $96.25 a month.[3]
Food, Health Care and Other Costs
For one adult, MIT's Austin-metro budget assumes $4,047 a year for food, $3,075 for medical costs, and $1,509 for internet and mobile.[1] Utility bills depend heavily on the home and the season, so ask for recent bills on any rental or home you're considering.
Build Your Own Monthly Budget
- Housing: your rent quote, or mortgage plus taxes, insurance and HOA.
- Transportation: car payment, insurance, fuel and parking, or a CapMetro pass.
- Utilities: electricity (budget higher for summer), water, internet and mobile.
- Everyday costs: food, health premiums and out-of-pocket costs, and any dependent care.
- Savings: 20% of take-home pay is the 50/30/20 benchmark.
Frequently Asked Questions
What salary do you need to live in Austin?
MIT estimates that $49,322 a year before taxes covers basic needs for one working adult in the Austin metro.[1] Living comfortably, with savings and discretionary spending, takes more. Under a 50/30/20 budget it's roughly double MIT's after-tax basic-needs figure.
What is the median home price in Austin right now?
$570,958 in the City of Austin and $421,000 across the metro in September 2026, according to Unlock MLS.[2]
How much is rent in Austin?
The City of Austin's median MLS lease price was $2,195 in September 2026, down 4.4% from a year earlier.[2]
How much does public transit cost in Austin?
CapMetro local service is $1.25 a ride, with fares capped at $2.50 a day and $41.25 a month.[3]
Talk to a Spyglass Agent
Tell us your budget and must-haves, and we'll show you what fits, whether you're buying or renting. Talk to a Spyglass Agent
Related reading: Austin Housing Market Report
Sources
- MIT Living Wage Calculator, "Living Wage Calculation for Austin-Round Rock-San Marcos, TX" (data updated Feb. 15, 2026). https://livingwage.mit.edu/metros/12420 (accessed Oct. 19, 2026).
- Unlock MLS, "September 2026 Central Texas Housing Report," Oct. 13, 2026. https://www.unlockmls.com/news/september-2026-central-texas-housing-report (accessed Oct. 19, 2026).
- CapMetro, "Fares." https://www.capmetro.org/fares (accessed Oct. 19, 2026).
This article is general information, not financial, tax or legal advice. Figures change; verify them for your situation. MLS data deemed reliable but not guaranteed. Spyglass Realty supports the Fair Housing Act and equal housing opportunity.
Spyglass Realty and Investment, LLC | TREC License #588051 | Designated Broker: Ryan Rodenbeck, TREC License #528651
