7 Cities Where the Cost of Living Could Be Dropping Soon

"Austin will also become more affordable as the effects of the pandemic linger and people continue to work from home," Haley said. "The city's lively music and food scene make it a desirable place to live, but its high rents have long been a source of frustration for residents. This fall, however, I think Austin will become more budget-friendly as landlords lower rents in order to attract tenants."

According to Numbeo, the current average monthly cost of living in Austin for a family of four is $3,422.46, not including rent.