Median rent is 15% lower in Melbourne ($1,411/mo vs $1,655/mo). Buying is cheaper in Melbourne, where the median home runs $272,900 versus $512,700. Households earn more in Austin ($91,461 vs $64,504 a year). Taken together, Austin is the more affordable choice with a cost index of 98.8 against 114.4 — about 14% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Austin, TX.
Quick verdict
Austin is 14% cheaper overall
Cost index: 98.8 in Austin vs 114.4 in Melbourne (US average = 100)
City A
Austin, TX
City B
Melbourne, FL
How much would you need to earn in Melbourne, FL to maintain your standard of living from Austin, TX?
Equivalent salary in Melbourne, FL
$86,864
You'd need $11,864 more (16% higher).
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
Melbourne
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 rent is modestly lower in Melbourne at $1,411/mo compared to $1,655/mo in Austin (15% gap). Home buyers face a steeper market in Austin: the median home is $512,700 versus $272,900 in Melbourne — 47% 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; Melbourne has the lower rate (local add-ons may apply in both).
Austin
Income tax: None
Sales tax: 6.25%
Melbourne
Income tax: None
Sales tax: 6.00%
Air quality data is available for Austin (avg AQI 47.0) but not yet for Melbourne.
Pick Austin if you prioritize lower overall cost of living (index 98.8 vs 114.4).
Pick Austin if you prioritize higher median household income ($91,461/yr).
Pick Melbourne if you prioritize cheaper rent ($1,411/mo median).
Is Austin cheaper than Melbourne?
Austin is cheaper overall, with a cost of living index of 98.8 versus 114.4 (US average = 100). That means prices run about 14% lower in Austin.
How much is rent in Austin vs Melbourne?
Median rent is $1,655/mo in Austin, TX and $1,411/mo in Melbourne, FL. Melbourne, FL has the lower rent by about 15%.
Which has higher salaries — Austin or Melbourne?
Median household income is $91,461 in Austin, TX and $64,504 in Melbourne, 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 Melbourne?
Both Texas and Florida have no state income tax.
What salary do I need in Melbourne to match my Austin income?
To maintain the same purchasing power, a salary of $100,000 in Austin, TX is equivalent to roughly $115,818 in Melbourne, FL (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology