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Austin has been regarded as one of the most expensive cities in the country recently. (Canva)
According to a study done by doxo, which broke down the 10 most common household bills, Texas is the 20th most expensive state in the country. More than 4,000 cities nationwide were included in the study, with Austin ranking 964th and within the top 25% most expensive.
Austinites pay 22.2% more in monthly bills than the national average, which is $2,033. However, Austin isn’t the most expensive by a long shot with 25 suburbs coming in ahead, and upscale Dallas suburb Southlake taking first place in Texas at $3,655.
Southlake is an outlier, at $600 more expensive than Houston-adjacent Bellaire in second place, though three Austin suburbs came in higher than the capital city: Buda in 10th place, Dripping Springs in 19th place and Hutto in 21st. Round Rock was one place behind Austin.
Housing payments
Luxury house in Travis Heights. (Austonia file photo)
Moving to the suburbs is bound to get you a cheaper price on a house, but you’re likely to pay almost the same price in rent. Dripping Springs had the highest Austin-area mortgage price—Austin came in $200 cheaper at $2,173 per month—but the average price in Buda, Hutto and Round Rock was around $1,500.
When it comes to rental prices, you’re going to find similar rates from the city center to suburbs. Doxo’s average rent for Austin falls at $1,316, which turned out to be cheaper than Buda, Hutto and Round Rock, though Dripping Springs clocked in $100 cheaper.
Car costs
(Pexels)
When it comes to owning a car in Austin, it tends to be cheaper than its suburban counterparts except when it comes to insurance. While Austinites tend to pay about $50 more than the average American car payment, which is $433, buying a car in neighboring suburbs is actually more expensive. In Hutto, the average was nearly $800 per month in car payments.
The average American pays $196 per month on car insurance, though the average Austinite pays $228, which capped out all the nearby suburbs.
Essentials
(Pexels)
Utilities in Austin are on the cheaper end—the average resident pays $203 per month compared to the American average of $328 monthly. Austin was cheaper than all the other suburbs except Hutto but Buda soared high above the rest of the cities at $460 per month in utility payments.
As for health insurance, Austin was most expensive but only by around $20 per month. The average resident here pays $116 for medical insurance, $97 in Hutto and Dripping Springs, and $50 in Round Rock.
Thankfully, Central Texans pay about the same on cable and internet as the rest of the country. Austin was only $10 above the national average of $114, while Hutto paid $127 per month.
All that info will have you thinking twice before choosing which suburb to move to!
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Popular
(Stuart Seeger/CC)
The study, conducted by bill management company Doxo, found that the average Austinite spends $2,300 per month on the "10 most common household bills," while the average Texan pays $1,888 monthly. The average American spends $1,889 per month on necessities.
Austin topped Breham, where residents spend $2,182, Dallas, where residents spend $2,103, and Houston, where residents spend $2,080. Last on the list in Zapata, in the Rio Grande Valley, where monthly bills amount to $1,247.
(Doxo)
Doxo broke spending down into the following categories: mortgage, rent, auto loans, utilities, cell phone, cable and satellite, security systems, and auto, health and life insurances.
Austin is famous for its skyrocketing real estate prices, so it should come as no surprise that the average homeowner spends almost $700 more on their mortgage per month than other Texans. At an average $1,903 per month spent on mortgage payments, where Texans average $1,279, the majority of Austin residents' funds go to housing.
The situation is a bit better when it comes to renters, who spend about $1,298 per month in Austin. The average Texan renter spends about $1,062 per month, comparatively.
As for auto loans and insurance, locals are about par for the course. Austinites may spend $457 on loans, compared to $411 statewide, but residents are actually saving money on auto insurance. The average Texan pays about $185 for their car insurance while Austin pays about $173.
Life insurance follows the same track, with nearly identical price points at $86 monthly in Austin and $88 across the state. However, Austinites pay $160 on average for health insurance, almost 50% more than the average of $113.
Say what you will about Austin's tree-hugging roots but residents spend much less money on utilities than the rest of the state. Where Texans spend $316 per month in our incredibly hot state, Austinites pay $170 monthly.
Satellite and phone bills fall near the average, $125 and $96 per month, respectively in Austin, whereas Texans pay $115 for satellite and $102 for cell phone service. Finally, Austin pays just a touch more on security, $108, than Texans, who pay around $87.
While spending in some categories falls below other Texas cities, Austin pays about 22% more than the national average. That's the price you pay to live in the capital city!
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