Cost-of-living in downtown Austin just as much as Chicago?? (Howe: sales, apartment)

[chicagorunner]

I'm planning on moving to Austin next month, towards the end of July. Pretty big change for me as I've been living in Chicago for the seven years since I started my career. (I'm moving completely by choice; I guess I'm fortunate in that I can keep my same job and role while living in a different city)

While my main reasons for wanting to move are just wanting a change of scenery, and wanting to try a change of climate, I was also looking forward to maybe a somewhat more reasonable cost-of-living. It's starting to look like that's not going to be the case.

I'm currently living in a nice new 1-bed condo in a downtown high-rise, paying $1650/month. It looks like places in downtown Austin are going for just about the same price. Though it looks like there are a couple newer mid-rise buildings within the 8-10 block are that are a little lower, around $1450.

However, in Chicago a car is really not needed at all. (Not needing to have a car is probably going to be the thing I miss most about Chicago; you don't realize how awesome it is to not have to deal with a car until you can try it).

So after factoring in having a car in Austin vs. not having one in Chicago, it looks like my fixed monthly expenses will actually be higher in Austin vs. Chicago. Not by a lot, maybe $200-300 per month or so depending on what kind of car I get.

Anyone think I may be missing something in this comparison? This realization isn't going to stop me from making the move, just been a little surprised to find.

[spelrod]

Sounds about right, you're paying the Austin hip-tax. I hope you've visited or plan to visit before making the move from downtown Chicago to downtown Austin.

[homesteading]

I've noticed the same thing. I compared the place I live now with Austin on Moderator cut: link removed, linking to competitor sites is not allowed and Austin shows lower unemployment and lower cost of living. However, the prices for everything I have looked at are significantly more expensive in Austin. If rent and utilities are so much more in Austin, how can it have a lower cost of living?? What data do they use to calculate living costs?

[chicagorunner]

Originally Posted by spelrod

Sounds about right, you're paying the Austin hip-tax. I hope you've visited or plan to visit before making the move from downtown Chicago to downtown Austin.

Yeah, I've actually been down there a few times in the past two years. I'm going to fly down in a week or two to look at places and get a lease signed.

I wasn't expecting Austin to be super-cheap by any means, I was just hoping that at a minimum, the additional cost of having a car would be offset by the somewhat lower rent. Fortunately I'm at the salary level now that an additional $300-400 more per month isn't a big deal. I guess it's more psychological than anything.

[mimimomx3]

I would be very careful about listening to how "cheap' Austin is. It isn't- at least not if you want the "Austin lifestyle".

[kbchitown]

Yes, very surprising. I also thought Austin would be cheaper than Chicago. Rents in downtown Austin are somewhat cheaper...but not by much. And the rental market is heating up. Utilities are crazy down here...and also expected to increase in the near future. Public transportation is very basic (wait til you see the train...think Ohare shuttle). This town is no bargain.

[wehotex]

Originally Posted by homesteading

I've noticed the same thing. I compared the place I live now with Austin on Moderator cut: link removed, linking to competitor sites is not allowed and Austin shows lower unemployment and lower cost of living. However, the prices for everything I have looked at are significantly more expensive in Austin. If rent and utilities are so much more in Austin, how can it have a lower cost of living?? What data do they use to calculate living costs?

They are probably using Austin and the surrounding areas in their calculation. DT and Central Austin living is much more expensive.

[h886]

I think it is cheaper in certain situations--just not the one you're looking for. If you're looking for a safe place to raise a family, a place where you have a decent chance at employment in many fields and a place where you can afford a nice house in the suburbs with good schools for your kids, then Austin is a great bargain compared to a lot of cities. You could probably find a much cheaper apartment a little further out from the city center, which would bring your COL down. However, yes, if you want to live downtown in a trendy condo, that does come at a premium. But, it sounds like you can afford that, so you should do whatever works best for you.

[CptnRn]

Most of the housing in downtown Austin was built in the last 15-20 years, before that there wasn't much to choose from if you wanted to live downtown. So given that most of it is fairly new, and the desire to live downtown is a fresh and hip new thing to do, its all reflected in the price.

Downtown Austin is also much smaller then downtown Chicago, which again means a smaller stock of options on where you can live.

Downtown Austin is all pretty much one zip code. Chicago is broken up into many. Many of which are more expensive to live in then Austin. You are probably NOT comparing the most expensive zip codes in downtown Chicago with the cost of living in downtown Austin.

Comparing cost of living (COL) by zip codes:

Downtown Chicago
60605: 114.7
60607: 120.1

Downtown Austin
78701: 96.8

[centralaustinite]

Rent is probably comparable but I'd guess that groceries are lower than Chicago, Then Texas has no state income tax, no personal property tax, and lower gasoline taxes. Not sure how sales tax compares.

Then most services in Austin are probably lower too (everything from manicures to housecleaning, dog walking, attorneys, accountants, editors, personal coaches etc.) Quality day care is definitely less in Austin (even right downtown) than Chicago.

It all depends on your personal mix of expenditures.