AUSTIN (KXAN) — Housing costs can take up most of anyone’s budget, but sharing the expenses with a roommate could help save money.
SmartAsset, a financial technology company, said it evaluated median apartment rents in nine of Texas’ largest cities and ranked the cities by the difference between the cost of renting a one-bedroom apartment alone or splitting the cost of a two-bedroom apartment with a roommate.
Here’s how much you can save in these five Texas cities:
Austin
In Texas, the most drastic savings – $550 per month – is in Austin. Rather than pay the median $1,530 for a one-bedroom apartment, renters can split a $1,960 two-bedroom apartment with a roommate.
Fort Worth
Rent for a one-bedroom averages $1,250 here. For a two-bedroom, it’s $1,520 per month. With current prices, a roommate can save an individual $490 per month.
Plano
A person opting for a two-bedroom apartment with a roommate can save $470 per month in Plano, by splitting a $2,020 monthly cost instead of paying $1,480 on their own.
Irving
In Irving, having a roommate can save you $455 per month. This is with a one-bedroom apartment costing a median of $1,290 and a two-bedroom costing $1,670.
Houston
A roommate can save you an average of $450 per month with Houston’s current prices. A one-bedroom currently goes for $1,210, while two-bedrooms are at $1,520.
Check out the other four Texas cities SmartAsset examined:
Dallas
- 1-bedroom rent – $1,360
- 2-bedroom rent – $1,950
- Savings splitting a 2-bedroom with a roommate – $385
San Antonio
- 1-bedroom rent – $1,060
- 2-bedroom rent – $1,350
- Savings splitting a 2-bedroom with a roommate – $385
Arlington
- 1-bedroom rent – $1,110
- 2-bedroom rent – $1,480
- Savings splitting a 2-bedroom with a roommate – $370
El Paso
- 1-bedroom rent – $900
- 2-bedroom rent – $1,120
- Savings splitting a 2-bedroom with a roommate – $340