Austin Now One Of Most Expensive Cities In Which To Relocate

AUSTIN, TX — This might explain the $12 burrito you had the other day from that trendy place you dropped into for a quick bite to go in a transaction that left you perplexed but you were too embarrassed to ask why it was so pricey.

Movinga, an online site dealing with moving, has ranked Austin as the 25th most expensive cities to which to move. This is an exclusive club that includes such pricey cosmopolitan sites as New York, San Francisco and — gasp! — even Tokyo.

Some added context: Austin ranks higher on the most expensive than such places as Austria, Berlin, Frankfurt, Madrid, Nice and Vienna.

"We created the Relocation Price Index to give people a clearer understanding of the cost of a move," Movinga officials write. "For 75 cities across the globe, including cosmopolitan epicenters like Tokyo and fast-growing startup hubs like Berlin, we researched the four main factors contributing to the total cost of an expat’s first month in a new home: the rent for a one-bedroom apartment in the city center, the cost of mobile phone set up and data plan, the price of a monthly public transportation pass, as well as food and drink for thirty days. Our list was then ranked based on the total average cost for each city."

By that reckoning, Austin ranked 25th overall, with the average rent of just more than $870. In addition to rental levels, other costs associated to daily living are added to the mix to achieve the rankings.

"We also calculated the average cost of a move for each city, as a guide to those thinking of relocating," Movinga continued. "The figure is accurate for a 155 miles move of one person (the average distance for a move worldwide). Although the overall expense will differ depending for each unique move, the costs can be used as an indicator as to which locations are more or less expensive for utilizing moving services."

Movinga's Managing Director Finn Hänsel noted that some cities are expecting an influx of new residents due to recent world geopolitical events. For Austin, the influx (roughly 150 people a day are moving to the capital city) has been largely due to its abundance of high tech jobs and robust real estate market.

“Berlin, Paris, Frankfurt, Dublin and Amsterdam; these are all cities that may be preparing for an influx of banking industry workers due to Brexit,” stated Movinga's Managing Director Finn Hänsel. “Among the factors that the directors of the banks will have to take into consideration for relocating will be the cost of relocating for employees. Therefore, studies like this will be very important in years to come.”

Movinga researchers said the purpose of their survey is to help people gain an understanding of the costs associated with relocation.

To view the full study, click here.

>>> Photo credit: Daniel Mayer via WikiMedia Commons