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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 108 for Tempe. Austin is 1 points cheaper overall. Monthly rent goes from $1,679 to $1,531 (-9%).
If you earn the Tempe median of $77,643, you would need approximately $76,924/year in Austin to maintain equivalent purchasing power, based on the cost index difference of 1 points (1%).
Median rent in Tempe is $1,679/month. In Austin it is $1,531/month — a difference of $148 per month, or $1,776 per year.
Moving to Austin looks like a financial upgrade — better income-to-cost ratio. The salary equivalent to maintain your current lifestyle is $76,924/year in Austin. The median income there is $91,461.
Estimated monthly essentials total $3,731 in Tempe vs $3,570 in Austin — a difference of $161/month ($1,932/year).
The median home price in Austin is $500,627 vs $466,198 in Tempe. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,531 in Austin vs $2,357 in Tempe.