How Austin's Housing Market Compares To Living In The Northeast

Posted by Alex Lewis on Thursday, July 20th, 2017 at 7:14am.




Have you ever wondered how Austin real estate costs compare to other major cities across the U.S.? We were curious too.

Austin’s delicious food, prolific creativity, booming industries, and vast outdoors are no national secret. More families are won over by our awesome city every single day. But these aren’t the only features that qualify a town to be the next place a family calls home. One of the most important factors behind any move is affordability.

Cost of living considers many income and expense variables. Before moving, it’s worth looking into the average rental cost, grocery bills, and median incomes of that city. Since JB Goodwin is a team of expert real estate agents, we decided that crafting a blog series that compares Austin’s cost of living is a helpful tool for families who know they love Austin, but who also want to preview other major city option across our great country. This post can help you know what your budget can handle.

We'll admit it, we’re a little biased about the benefits of owning a home in Austin. We live here, after all. And we can’t seem to help ourselves from talking up the incentives of our own home. With that confessed, we also promise to not let our city pride get in the way of bragging about other regions of the United States.

This post is part 1 of our 4-part series that compares region-by-region housing costs across the U.S. We begin our series with some of the most famous cities in the Northeast. All of the numbers we include can be found at bestplaces.net.

Sit back, relax, and enjoy our comparisons:

Cities More Affordable Than Austin

Cost Of Living In Philadelphia, PA vs. Austin, TX

If you move to Philadelphia, try not to spend all your extra cash on cheesesteaks. Philadelphia’s real estate costs are on average 57% cheaper than in Austin. Bestplaces.net said that “Housing is the biggest factor for the cost of living difference,” and based on the chart they provided, we agree. That’s because regarding other expenses such as food, transportation, and utilities, Austin shows more affordable numbers.

Cost Of Living In Baltimore, MD vs. Austin, TX

Like Philadelphia, Baltimore proved lower average real estate costs than Austin. Comparisons reflected that Austin’s real estate is about 60% more costly than in Baltimore. Of course, Austin has some low-expenses going for it. Food and utilities are not only cheaper in Austin, but they also happen to fall below the national average. It’s nice to know that we eat well, and on a budget.

We guess the east coast has some cost-incentives in their back pocket. Order some crab-cakes if you pay a visit, but never forget the rich, savory taste of Texas BBQ.

 

Cities More Expensive Than Austin

Cost Of Living In New York, NY vs. Austin, TX

It’s a concrete jungle – and an expensive one, we might add.

New York and Austin proved the most substantial real estate cost difference on our list. The numbers were stunning, even when you consider the fact that we knew Austin was cheaper than NYC to begin with. Bestplaces.net says, “Housing is 94% more expensive in New York”.

With those sort of housing numbers, it probably isn’t too big a surprise to find out that in every category Austin proved the more affordable place to live.

 

Cost Of Living In Boston, MA vs. Austin, TX

We looked at Boston. It turns out, their housing market is 66% more expensive than it is here in Austin. Moreso, Austin was less expensive than Boston in every category. When it comes to real estate, groceries, or healthcare, Austin is the more cost-friendly place to call home.

They may have resplendent colors to show off in the fall, but Austin shows off its livability through affordable housing.

Cost Of Living In Washington, D.C. vs. Austin, TX

For the final Northeast comparison round: National Capital vs Texas Capital. We compared the real estate costs in Washington D.C. to those in Austin. It turns out that D.C. is 70% more expensive than houses here in Austin.

Just like New York and Boston, D.C. is across-the-board more expensive than Austin.
Perhaps those high numbers are how they afford their free museums – but we doubt it.

 

If there is a city in the Northeast that you didn’t find on our list, feel free to make comparisons on your own by visiting bestplaces.net and crunching some numbers for yourself. Keep an eye out for the next three blogs. We are going to compare cities from all 4 corners of the U.S. by the time we’ve concluded.

If you are shopping for a house in The Greater Austin area, make sure you reach out to a JB Goodwin agent today. We will work closely with you to find the home that best fulfills the needs of your family. We look forward to helping you!

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