Median rent is 7% lower in Palm Bay ($1,601/mo vs $1,729/mo). Buying is cheaper in Palm Bay, where the median home runs $283,200 versus $555,300. Households earn more in Austin ($93,658 vs $72,614 a year). Taken together, Austin is the more affordable choice with a cost index of 98.3 against 113.7 — about 14% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Austin, TX.
Cost of living verdict
Austin is 14% cheaper overall
Cost of Living Index: 98.3 in Austin vs 113.7 in Palm Bay (US national average = 100)
City A
Austin, TX
City B
Palm Bay, FL
How much would you need to earn in Palm Bay, FL to maintain your standard of living from Austin, TX?
Equivalent salary in Palm Bay, FL
$86,759
You'd need $11,759 more (16% higher).
Based on BEA Regional Price Parity (cost index) for each metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Austin
Texas
Palm Bay
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Median rent is modestly lower in Palm Bay at $1,601/mo compared to $1,729/mo in Austin (7% gap). Home buyers face a steeper market in Austin: the median home is $555,300 versus $283,200 in Palm Bay — 49% more expensive.
Metric
Austin
Palm Bay
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Austin
Income tax: N/A
Sales tax: N/A
Palm Bay
Income tax: N/A
Sales tax: N/A
Air quality data is available for Austin (avg AQI 65.0) but not yet for Palm Bay.
Pick Austin if you prioritize lower overall cost of living (index 98.3 vs 113.7).
Pick Austin if you prioritize higher median household income ($93,658/yr).
Austin is cheaper overall, with a cost of living index of 98.3 versus 113.7 (US average = 100). That means prices run about 14% lower in Austin.
Median rent is $1,729/mo in Austin, TX and $1,601/mo in Palm Bay, FL. Palm Bay, FL has the lower rent by about 7%.
Median household income is $93,658 in Austin, TX and $72,614 in Palm Bay, FL. Austin, TX has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Air quality data is not yet available for one or both cities.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Austin, TX is equivalent to roughly $115,679 in Palm Bay, FL (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
