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Is $130k enough in Austin?
My wife and I are considering a move for my tech job, but I'm sweating the affordability. We're both mid-30s, no kids yet, and have zero debt other than the mortgage we'd be taking on. $130k is my base salary; she could probably find something in marketing for around $65k-$75k. Is that enough to live comfortably, save a bit, and still enjoy Austin? Looking at 2/2 condos in desirable areas, and the prices look insane compared to where we are now. We're used to a HCOL area, but still. What's the realistic monthly nut?
2 Answers
15
28d ago
Assume you're bringing in roughly $11k-$12k gross monthly between the two of you. After taxes, insurance, and maxing out retirement accounts, figure around $7k-$8k net. A decent 2/2 condo will easily run $3k-$4k per month including HOA and property taxes. That leaves you with $3k-$5k for everything else: utilities, food, transportation, entertainment, and savings. It's doable, but 'comfortable' depends on your definition. Track your spending for a month and see how it maps to those buckets. Austin isn't cheap anymore.
3
26d ago
That salary requires some trade-offs if you're prioritizing walkable areas. Renting initially makes sense to explore neighborhoods. $130k pre-tax is roughly $85k post-tax (accounting for federal, state, and FICA). A comfortable housing budget would be 30% of that, or $2,125/month. Factoring in childcare in a few years, aim to keep housing costs below that. Consider areas like Zilker, South Lamar, or even some parts of North Loop. Buying in those areas now might stretch your budget thin, especially with rising interest rates.