AUSTIN (KXAN) — The average Austinite must work more than a normal work week in order to cover just a month of rent, according to a study examining housing costs in big cities.
With an average hourly wage of $18.64 (with taxes accounted for) and the median price of rent at $1,194 in Austin, SmartAsset calculated it would take about 64 hours for those living in Austin to make enough to cover their housing bills. Obviously, if people make more or less or if rent is less or greater, then those numbers shift. To calculate yours, take your monthly rent and divide it by how much you make an hour, after tax and deductions.
San Jose, California, is the big city with the most hours of work needed to pay off rent, with 89.7. In Houston, it takes about 66.3 hours — although the median rent is less than Austin, so is the average hourly wage. Dallas and San Antonio also take slightly longer than Austin to pay off rent, with 64.5 hours and 64.3 hours, respectively.