Median rent is 0% lower in Austin ($1,655/mo vs $1,657/mo). Buying is cheaper in Miami, where the median home runs $475,200 versus $512,700. Households earn more in Austin ($91,461 vs $59,390 a year). Taken together, Austin is the more affordable choice with a cost index of 98.8 against 111.9 — about 12% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Austin, TX.
Quick verdict
Austin is 12% cheaper overall
Cost index: 98.8 in Austin vs 111.9 in Miami (US average = 100)
City A
Austin, TX
City B
Miami, FL
How much would you need to earn in Miami, FL to maintain your standard of living from Austin, TX?
Equivalent salary in Miami, FL
$84,953
You'd need $9,953 more (13% 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
Miami
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 $1,657/mo in Miami. Median home values are within 7% of each other: $512,700 in Austin and $475,200 in Miami.
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; Miami has the lower rate (local add-ons may apply in both).
Austin
Income tax: None
Sales tax: 6.25%
Miami
Income tax: None
Sales tax: 6.00%
Miami has cleaner air on average: 27.0 AQI (Good) compared to 47.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Austin if you prioritize lower overall cost of living (index 98.8 vs 111.9).
Pick Austin if you prioritize higher median household income ($91,461/yr).
Pick Miami if you prioritize cleaner air quality (avg AQI 27.0).
Is Austin cheaper than Miami?
Austin is cheaper overall, with a cost of living index of 98.8 versus 111.9 (US average = 100). That means prices run about 12% lower in Austin.
How much is rent in Austin vs Miami?
Median rent is $1,655/mo in Austin, TX and $1,657/mo in Miami, FL. Austin, TX has the lower rent by about 0%.
Which has higher salaries — Austin or Miami?
Median household income is $91,461 in Austin, TX and $59,390 in Miami, 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?
Miami, FL has better air quality on average: 27.0 AQI versus 47.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Austin or Miami?
Both Texas and Florida have no state income tax.
What salary do I need in Miami to match my Austin income?
To maintain the same purchasing power, a salary of $100,000 in Austin, TX is equivalent to roughly $113,271 in Miami, 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