Median rent is 2% lower in Homestead ($1,619/mo vs $1,655/mo). Buying is cheaper in Homestead, where the median home runs $346,500 versus $512,700. Households earn more in Austin ($91,461 vs $61,975 a year).
City A
Austin, TX
City B
Homestead, FL
How much would you need to earn in Homestead, FL to maintain your standard of living from Austin, TX?
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
Austin
Texas
Homestead
Florida
👥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 rents are similar in both cities: $1,655/mo in Austin and $1,619/mo in Homestead. Home buyers face a steeper market in Austin: the median home is $512,700 versus $346,500 in Homestead — 32% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Both Texas and Florida have no state income tax — a notable advantage for workers in both cities. Sales tax is 6.25% in Texas and 6.00% in Florida; Homestead has the lower rate (local add-ons may apply in both).
Austin
Income tax: None
Sales tax: 6.25%
Homestead
Income tax: None
Sales tax: 6.00%
Air quality data is available for Austin (avg AQI 47.0) but not yet for Homestead.
Pick Austin if you prioritize higher median household income ($91,461/yr).
Is Austin cheaper than Homestead?
Cost of living index data is not yet available for one or both cities.
How much is rent in Austin vs Homestead?
Median rent is $1,655/mo in Austin, TX and $1,619/mo in Homestead, FL. Homestead, FL has the lower rent by about 2%.
Which has higher salaries — Austin or Homestead?
Median household income is $91,461 in Austin, TX and $61,975 in Homestead, FL. Austin, TX 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 — Austin or Homestead?
Both Texas and Florida have no state income tax.
What salary do I need in Homestead to match my Austin 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