Median rent is 31% lower in Austin ($1,655/mo vs $2,395/mo). Buying is cheaper in Austin, where the median home runs $512,700 versus $618,500. Households earn more in New City ($174,479 vs $91,461 a year). Taken together, Austin is the more affordable choice with a cost index of 98.8 against 113.0 — about 13% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in New City, NY.
Quick verdict
Austin is 13% cheaper overall
Cost index: 98.8 in Austin vs 113.0 in New City (US average = 100)
City A
Austin, TX
City B
New City, NY
How much would you need to earn in New City, NY to maintain your standard of living from Austin, TX?
Equivalent salary in New City, NY
$85,761
You'd need $10,761 more (14% 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
New City
New York
👥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
Renters will find significantly cheaper housing in Austin — median rent of $1,655/mo versus $2,395/mo in New City, a 31% difference. Median home values are within 17% of each other: $512,700 in Austin and $618,500 in New City.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Texas has no state income tax, while New York tops out at 10.90% — giving Austin a clear advantage for high earners. Sales tax is 6.25% in Texas and 4.00% in New York; New City has the lower rate (local add-ons may apply in both).
Austin
Income tax: None
Sales tax: 6.25%
New City
Income tax: 10.90%
Sales tax: 4.00%
Air quality data is available for Austin (avg AQI 47.0) but not yet for New City.
Pick Austin if you prioritize lower overall cost of living (index 98.8 vs 113.0).
Pick New City if you prioritize higher median household income ($174,479/yr).
Pick Austin if you prioritize cheaper rent ($1,655/mo median).
Pick Austin if you prioritize no state income tax.
Is Austin cheaper than New City?
Austin is cheaper overall, with a cost of living index of 98.8 versus 113.0 (US average = 100). That means prices run about 13% lower in Austin.
How much is rent in Austin vs New City?
Median rent is $1,655/mo in Austin, TX and $2,395/mo in New City, NY. Austin, TX has the lower rent by about 31%.
Which has higher salaries — Austin or New City?
Median household income is $91,461 in Austin, TX and $174,479 in New City, NY. New City, NY 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 New City?
Texas has no state income tax. New York has a top rate of 10.90%.
What salary do I need in New City to match my Austin income?
To maintain the same purchasing power, a salary of $100,000 in Austin, TX is equivalent to roughly $114,348 in New City, NY (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