Economy in Austin, Texas

Austin, TX is an exciting city to live in with a vibrant culture and plenty of opportunities. It has a cost of living that is slightly higher than the national average, with two-bedroom rent costing around $1,720 compared to $1,430 nationwide. The city's grocery cost index is 97 compared to 100 in the US. In Austin you can find major companies such as Dell Technologies and Amazon opening offices there and creating career opportunities. The city also offers lots of attractions such as Lady Bird Lake where you can hike, kayak or canoe in the summer months. Other attractions include South Congress Avenue and its many shops and restaurants as well as Zilker Park for fun activities like swimming or biking. With so much happening in Austin you will never be bored!

Austin has an unemployment rate of 5.1%. The US average is 6.0%.

Austin has seen the job market increase by 3.5% over the last year. Future job growth over the next ten years is predicted to be 47.0%, which is higher than the US average of 33.5%.

Tax Rates for Austin
- The Sales Tax Rate for Austin is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Austin is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Austin
- The average income of a Austin resident is $32,672 a year. The US average is $28,555 a year.
- The Median household income of a Austin resident is $78,965 a year. The US average is $69,021 a year.