A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between Austin, TX and New York, NY.
TX
Population: 979,882
NY
Population: 8,258,035
National average = 100. Higher values indicate a more expensive area.
| Metric | Austin, TX | New York, NY | Difference |
|---|---|---|---|
| Cost of Living Index | 110 | 150 | -26.7% |
| Median Home Price | $425,000 | $680,000 | -37.5% |
| Property Tax Rate | 1.68% | 0.88% | +90.9% |
| Median Household Income | $80,954 | $74,694 | +8.4% |
| Population | 979,882 | 8,258,035 | -88.1% |
Austin, TX is 26.7% cheaper to live in than New York, NY, based on the overall cost of living index.
Home Price Difference
$255,000
Austin, TX is cheaper by 37.5%
Income Difference
$6,260
Austin, TX earns more by 8.4%
Price-to-income ratio: median home price divided by median household income. A lower ratio indicates more affordable housing.
Austin, TX
5.2x
$425,000 / $80,954
New York, NY
9.1x
$680,000 / $74,694
Overall, Austin, TX is the more affordable city to live in. With a cost of living index of 110 compared to 150, a median home price of $425,000, and a price-to-income ratio of 5.2x, Austin, TX offers better value for residents looking to stretch their dollar further. However, the median household income in Austin, TX ($80,954) is higher, which may offset some of the cost differences.