Austin is a rapidly growing city with global companies like Samsung, Tesla, and Apple establishing a presence here. Therefore, one of the most frequently asked questions is, "What is the cost of living in Austin, especially for a family of four?"

In this article, we share real-life cost of living examples compiled by the Korean Association.

Housing

The largest expense for a family of four is housing.

• Apartment Rent: 2-3 bedroom average $1,800-2,500/month
• Home Mortgage: Based on an average home price of $460,000, assuming 20% down payment and 6.5% interest rate, around $2,300/month (can be close to $3,000 with taxes and insurance included)
• Regional Differences:
• Downtown Austin – Highest rent and home prices
• Round Rock, Pflugerville, Leander, Cedar Park – Good school districts and more reasonable prices compared to downtown

Transportation

A car is essential in Austin. A family of four typically needs two cars.

• Car Payments: Average $500/month per car x 2 cars = $1,000
• Car Insurance: Family average $250-350/month
• Gasoline: $250-350/month (varies by driving distance)
• Total: Average $1,500-1,700/month

Food & Groceries

Food expenses for a family of four vary greatly depending on dining habits.

• Groceries (H-E-B, Costco basis): $900-1,200/month
• Dining Out: An additional $300-500 per month for dining out 1-2 times a week
• Fast food: Approximately $40 for a family of 4
• Korean restaurant: Approximately $100-120 for a family of 4
• Total: Average $1,200-1,600/month

Education

• Public Schools: Free, but good school districts lead to higher housing costs
• Private Schools: Over $15,000-25,000 annually per child
• After-school Academies/Tutors: $200-400/month per subject, SAT/ACT specialized tutoring is higher

Therefore, living in an area with good public school districts is the most reasonable option.

Healthcare

• Family Insurance Premiums: $1,200-1,800/month (varies by plan and company benefits)
• Hospital Visit Fees without Insurance: Basic visit alone costs over $100-200
• Dental and optometry costs are separate

Utilities & Miscellaneous

• Internet: $60-80/month
• Cell Phone (4 lines): $150-220/month
• Electricity, Gas, Water: $250-400/month (spikes in summer due to AC use)
• Leisure/Culture: Movie tickets for 4 people cost $60, sports/instrument lessons incur additional costs

Conclusion

While the cost of living in Austin has risen rapidly compared to the past, the absence of Texas state income tax remains a significant advantage. Especially for a family of four, the average cost of living can be expected to be around $6,000-9,000/month.