salaryRent is lower than in 66% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 18 minutes.
How much money do I need?
To rent here comfortably, you should earn about $54,440 a year. That is $26 an hour at a full-time job.
Is rent cheaper than other Minnesota cities?
Yes. Rent here is cheaper than in most of Minnesota. It is number 51 of 150 cities from cheapest to most expensive.
How much do households earn in Austin?
Share of households by yearly income. 17.9% of households earn $100,000 or more.
Rent by apartment size in Austin
| Size | Austin | U.S. average |
|---|---|---|
| 1 bedroom | $817 | $1,324 |
| 2 bedrooms | $1,041 | $1,509 |
| 3 bedrooms | $1,365 | $1,698 |
| 4 bedrooms | $1,176 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Austin overall?
Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Austin, so the Minnesota figure is shown.
Taxes and bills in Austin
Life in Austin
Is it cheaper to rent or buy in Austin?
Buying is cheaper month to month: about $224 a month less than renting.
Owning assumes a typical $163,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $16,390 for the down payment.
Frequently asked questions
What is the average rent in Austin, MN?
Renting in Austin costs a median of about $1,361 a month in 2026, including utilities. The Minnesota median is $1,525.
How much do I need to make to live in Austin?
To keep rent under 30% of income, you need about $54,440 a year, or $26 an hour at a full-time job.
Is Austin cheap or expensive?
Austin is rated OK: rent takes 22.3% of the typical household income of $73,399. It ranks 51st cheapest of 150 Minnesota cities we track.
How much are property taxes in Austin?
The median homeowner in Austin pays $1,698 a year in property taxes, about 1.04% of the median home value.
Is Austin more expensive than the national average?
Overall prices in Minnesota are 1% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Austin?
The median home value in Austin is $163,900, about 2.2 times the typical yearly household income.
26,358 people live in Austin. Numbers are typical (middle) values.