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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 Phoenix. Austin is 3 points more expensive overall. Monthly rent goes from $1,556 to $1,531 (-2%).
If you earn the Phoenix median of $77,041, you would need approximately $79,263/year in Austin to maintain equivalent purchasing power, based on the cost index difference of 3 points (3%).
Median rent in Phoenix is $1,556/month. In Austin it is $1,531/month — a difference of $25 per month, or $300 per year.
Moving to Austin looks like a financial upgrade — better income-to-cost ratio. The salary equivalent to maintain your current lifestyle is $79,263/year in Austin. The median income there is $91,461.
Estimated monthly essentials total $3,523 in Phoenix vs $3,570 in Austin — a difference of +$47/month (+$564/year).
The median home price in Austin is $500,627 vs $407,665 in Phoenix. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,531 in Austin vs $2,061 in Phoenix.