AUSTIN, Texas — Austin is getting attention for having one of the worst cost of living increases in the country.
According to air filter supplier Filterbuy, the Austin-Round Rock-Georgetown area ranks No. 12 when it comes to the increase in the cost of living from 2010 to 2020.
There were multiple factors considered in the study. For Austin, the biggest driver of the cost increase was the housing market.
The Austin area saw a 17.8% increase in costs overall since 2010. Housing costs went up by 20.7% and utilities went up by 13.4%. The cost of goods actually went down by 2.6%.
Two other Texas cities also made Filterbuy’s list. San Antonio came in at No. 14 and Dallas was No. 8.
In Austin, we have seen this cost of living increase reflected in home costs and the price of renting an apartment. The newest data for January from Apartment Data Services shows the average rent for an 875 square foot apartment in Austin is $1,560. The Filterbuy report shows that is about $400 more than the average apartment rent in San Antonio and Houston and about $200 more than Dallas.
Publication: KVUE ABC