Can You Afford Rent in Austin on $60,000/Year?
On $60,000 in Austin, TX, your take-home pay is $4,187/month after taxes. Using the 30% rule, you can afford up to $1,256/month in rent.
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Your take-home: $4,187/month
Max affordable rent: $1,256/month
Based on 30% of take-home pay (after taxes)
| Size | Avg Rent | % Income | Verdict |
|---|---|---|---|
| Studio | $1,208 | 28.8% | OK |
| 1-Bedroom | $1,549 | 37% | Stretch |
| 2-Bedroom | $2,018 | 48.2% | No |
| 3-Bedroom | $2,416 | 57.7% | No |
After paying rent on a 1-BR ($1,549), you’d have $2,638/month left for everything else.
Rent Affordability Breakdown
| Size | Avg Rent | % Income | Verdict | Left Over |
|---|---|---|---|---|
| Studio | $1,208 | 28.8% | OK | $2,979/mo |
| 1-Bedroom | $1,549 | 37% | Stretch | $2,638/mo |
| 2-Bedroom | $2,018 | 48.2% | No | $2,169/mo |
| 3-Bedroom | $2,416 | 57.7% | No | $1,771/mo |
What Salary Do You Need?
To comfortably afford rent in Austin at the 30% threshold:
| Size | Avg Rent | Salary Needed | Hourly Equiv |
|---|---|---|---|
| Studio | $1,208 | $58,000 | $28/hr |
| 1-Bedroom | $1,549 | $77,000 | $37/hr |
| 2-Bedroom | $2,018 | $103,000 | $50/hr |
| 3-Bedroom | $2,416 | $126,000 | $61/hr |
How Austin Compares
On $60,000, here’s what you can afford in other cities:
| City | 1BR Rent | % Income | Verdict |
|---|---|---|---|
| El Paso, TX | $950 | 22.7% | Comfy |
| Memphis, TN | $950 | 22.7% | Comfy |
| San Antonio, TX | $979 | 23.4% | Comfy |
| Oklahoma City, OK | $940 | 23.7% | Comfy |
| Tucson, AZ | $1,000 | 24.6% | Comfy |