Median rent is 8% lower in Austin ($1,655/mo vs $1,800/mo). Buying is cheaper in Algonquin, where the median home runs $324,000 versus $512,700. Households earn more in Algonquin ($131,753 vs $91,461 a year).
City A
Algonquin, IL
City B
Austin, TX
How much would you need to earn in Austin, TX to maintain your standard of living from Algonquin, IL?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Algonquin
Illinois
Austin
Texas
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Austin at $1,655/mo compared to $1,800/mo in Algonquin (8% gap). Home buyers face a steeper market in Austin: the median home is $512,700 versus $324,000 in Algonquin — 37% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Texas has no state income tax, while Illinois tops out at 4.95% — giving Austin a clear advantage for high earners. Sales tax is 6.25% in Illinois and 6.25% in Texas; Austin has the lower rate (local add-ons may apply in both).
Algonquin
Income tax: 4.95%
Sales tax: 6.25%
Austin
Income tax: None
Sales tax: 6.25%
Air quality data is available for Austin (avg AQI 47.0) but not yet for Algonquin.
Pick Algonquin if you prioritize higher median household income ($131,753/yr).
Pick Austin if you prioritize no state income tax.
Is Algonquin cheaper than Austin?
Cost of living index data is not yet available for one or both cities.
How much is rent in Algonquin vs Austin?
Median rent is $1,800/mo in Algonquin, IL and $1,655/mo in Austin, TX. Austin, TX has the lower rent by about 8%.
Which has higher salaries — Algonquin or Austin?
Median household income is $131,753 in Algonquin, IL and $91,461 in Austin, TX. Algonquin, IL has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Algonquin or Austin?
Texas has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Austin to match my Algonquin income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology