Texas consistently ranks as one of the nation’s most favorable business climates based on its low tax burden and competitive regulatory environment. In Texas, aggregate costs for real estate, energy, wages and taxes are below most states in the country.
Compared to other major business centers, Austin is well known for offering affordable living. The National Association of Realtors reports that the median home price in Austin was $187,400 in 2009 while the national median was $173,200.
Texas features no personal or corporate income tax, and overall the state has one of the lowest state and local tax burdens in the nation, ranking 47th among the 50 states in taxes paid per $1000 of personal income.
| Cost of Living Index |
| Cost of Living Index, 2009 (U.S.=100) |
| |
Composite |
Grocery (13%) |
Housing (30%) |
Utilties (10%) |
Trans-
portation (12%) |
Health care (4%) |
Misc. (32%) |
| Atlanta |
94.2 |
100.6 |
88.6 |
82.5 |
97.7 |
103.7 |
97.8 |
| Austin |
96.5 |
91.8 |
84.2 |
90.3 |
96.9 |
94.8 |
111.7 |
| Boston |
130.9 |
117.0 |
146.7 |
156.6 |
100.7 |
127.5 |
125.9 |
| Chicago |
113.2 |
104.4 |
131.5 |
114.3 |
115.4 |
110.3 |
99.3 |
| Dallas |
92.1 |
96.1 |
71.2 |
107.9 |
99.3 |
104.2 |
100.2 |
| Denver |
102.9 |
101.4 |
107.4 |
99.3 |
94.3 |
105.3 |
103.4 |
| Los Angeles |
141.6 |
107.6 |
229.1 |
90.7 |
114.8 |
109.4 |
106.3 |
| NY (Manhattan) |
217.2 |
145.9 |
399.5 |
156.8 |
128.3 |
130.7 |
144.2 |
| Phoenix |
98.4 |
105.6 |
94.6 |
88.5 |
101.3 |
97.7 |
100.9 |
| Raleigh |
101.3 |
108.9 |
91.0 |
100.6 |
99.5 |
106.1 |
108.0 |
| Salt Lake City |
100.0 |
104.7 |
106.4 |
71.1 |
99.7 |
95.9 |
1.1.9 |
| San Francisco |
162.9 |
118.6 |
273.0 |
92.4 |
112.6 |
118.6 |
127.5 |
|
| Cost of Living Index, 2009 |
 |
| Cost of Living Calculator |
|
| Source: The Council for Community & Economic Research, ACCRA Cost of Living Index. |
| Back to Top |
| Home Prices |
| Median Sales Price, Existing Single-Family Homes |
| |
2007 |
2008 |
2009 |
Annual percent change |
| 2007-2008 |
2008-2009 |
| Austin MSA |
$183,700 |
$188,600 |
$187,400 |
2.7% |
-0.6% |
| United States |
217,900 |
196,600 |
173,200 |
-9.8% |
-11.9% |
|
Note: Time series of annual and monthly numbers for home prices and other housing market indicators are updated monthly on the Chamber's Economic Indicators page.
Source: National Association of Realtors. |
| Average Home Price, Middle Management Housing, 2009 |
 |
Note: The subject home type is a single-family dwelling model with approximately 2,200 sq.ft., 4 bedrooms, 2 1/2 baths, family room (or equivalent) and 2-car garage. Surveyed homes and neighborhoods are typical for corporate middle-management transferees. Where Coldwell Banker reports multiple submarkets for a metro, the price indicated is an unweighted average of the reported submarkets.
Source: Coldwell Banker. |
| Tax Burden |
| Tax Burden, 2007 |
| |
Texas |
United States |
| State & local taxes per capita, total |
$3,441 |
$4,234 |
| Property |
1,434 |
1,272 |
| Sales |
1,608 |
1,456 |
| Individual income |
0 |
960 |
| Corporate income |
0 |
201 |
| Other taxes |
398 |
345 |
| State and local taxes per $1000 of personal income |
93 |
110 |
|