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Here's how much income you need to afford a nice apartment in Austin

Zillow reveals how much you must earn to afford an apartment in Austin. Photo courtesy of Amli

Just how much money do you need to make to rent a nice place in Austin? According to a Zillow analysis released in June, quite a bit. The analysis shows that it's almost impossible to rent a median-priced apartment in most of the 35 largest U.S. metro areas on an income of $15 an hour.

The annual household income required to afford Austin's median rent is $67,440.

Zillow uses $15 as the "minimum wage," inspired by Seattle's decision, but that's not an accurate number in most cities. The minimum wage is only $7.25 in Texas.

In Austin, the median-priced apartment costs a whopping $1,686 per month. In a dual-earner household, two people need to make at least $16.86 an hour to afford it. For a single-earner, the required hourly wage skyrockets to $33.72. The annual household income required to afford Austin's median rent — without exceeding a 30 percent threshold — is $67,440.

The picture isn't as grim in other Texas cities. It costs $15.13 an hour for two to afford rent in Houston, but only $14.65 an hour for two in Dallas.

The cheapest places to rent, based on dual-earner households, are Detroit ($11.21), Pittsburgh ($11.24), St. Louis ($11.37), Cleveland ($11.61) and Indianapolis ($11.99). You'll spend the most in San Jose, where two people must each earn $32.87 an hour to afford the median rent of $3,287 a month.

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Making Waves

New 'surf condos' near Austin backed by world champion Kelly Slater

Kelly Slater has tied his name to the new community. Photo by Sean M. Haffey/Getty Images

A water-themed community featuring dozens of “surf condos,” backed by surfing legend Kelly Slater, is making waves in Del Valle.

Surfer.com and the Austin Business Journal recently reported that work has begun on the Austin Surf Club. The 190-acre project tentatively is set to include more than 140 condos, along with a brewery, cafe, clubhouse, and spa. Water features are supposed to include a 19-acre reef wave and a 2,220-foot-long surf basin. The project also might offer sports courts, and a lake for fishing and stand-up paddle boarding.

“Austin Surf Club is a one-of-a-kind surf residential community where cutting-edge technology and classic surf culture converge,” the club says on its website. “It is a fusion of urban energy and coastal serenity that embraces the adventurous spirit of Austin, Texas and brings the joy of surfing to your front door.”

The Austin Surf Club is being built along Navarro Creek Road off State Highway 71 on the former site of NLand Surf Park, which closed in 2018, according to the Business Journal. The property is near Austin-Bergstrom International Airport.

Scottsdale, Arizona-based Discovery Land Co. is developing the project in tandem with Slater. Surfer.com identifies Slater as the world’s richest surfer, with an estimated net worth of $40 million. The 53-year-old Slater starred on the popular lifeguard drama “Baywatch.” The original TV series aired from 1989 to 1999.

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