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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 105 for Raleigh. Austin is 2 points more expensive overall. Monthly rent goes from $1,567 to $1,531 (-2%).
If you earn the Raleigh median of $82,424, you would need approximately $83,994/year in Austin to maintain equivalent purchasing power, based on the cost index difference of 2 points (2%).
Median rent in Raleigh is $1,567/month. In Austin it is $1,531/month — a difference of $36 per month, or $432 per year.
Moving to Austin looks like a financial upgrade — better income-to-cost ratio. The salary equivalent to maintain your current lifestyle is $83,994/year in Austin. The median income there is $91,461.
Estimated monthly essentials total $3,561 in Raleigh vs $3,570 in Austin — a difference of +$9/month (+$108/year).
The median home price in Austin is $500,627 vs $428,831 in Raleigh. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,531 in Austin vs $2,168 in Raleigh.