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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Moving to Austin looks like a financial upgrade — better income-to-cost ratio.
Austin has a cost index of 107 vs 104 for Durham. Austin is 3 points more expensive overall. Monthly rent goes from $1,651 to $1,531 (-7%).
If you earn the Durham median of $79,234, you would need approximately $81,520/year in Austin to maintain equivalent purchasing power, based on the cost index difference of 3 points (3%).
Median rent in Durham is $1,651/month. In Austin it is $1,531/month — a difference of $120 per month, or $1,440 per year.
Moving to Austin looks like a financial upgrade — better income-to-cost ratio. The salary equivalent to maintain your current lifestyle is $81,520/year in Austin. The median income there is $91,461.
Estimated monthly essentials total $3,634 in Durham vs $3,570 in Austin — a difference of $64/month ($768/year).
The median home price in Austin is $500,627 vs $393,151 in Durham. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,531 in Austin vs $1,988 in Durham.