Median rent is 10% lower in Palm Bay ($1,487/mo vs $1,655/mo). Buying is cheaper in Palm Bay, where the median home runs $248,000 versus $512,700. Households earn more in Austin ($91,461 vs $67,521 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 Palm Bay (US 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
$86,864
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
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: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Palm Bay at $1,487/mo compared to $1,655/mo in Austin (10% gap). Home buyers face a steeper market in Austin: the median home is $512,700 versus $248,000 in Palm Bay — 52% 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; Palm Bay has the lower rate (local add-ons may apply in both).
Austin
Income tax: None
Sales tax: 6.25%
Palm Bay
Income tax: None
Sales tax: 6.00%
Air quality data is available for Austin (avg AQI 47.0) but not yet for Palm Bay.
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).
Is Austin cheaper than Palm Bay?
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 Palm Bay?
Median rent is $1,655/mo in Austin, TX and $1,487/mo in Palm Bay, FL. Palm Bay, FL has the lower rent by about 10%.
Which has higher salaries — Austin or Palm Bay?
Median household income is $91,461 in Austin, TX and $67,521 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.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Austin or Palm Bay?
Both Texas and Florida have no state income tax.
What salary do I need in Palm Bay 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 Palm Bay, 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