Austin vs Cape Coral: cost of living compared
Cape Coral is 11% cheaper than Austin overall. Neither TX nor FL has a state income tax.
Indexes use a US average of 100: below 100 is cheaper than the national average. Housing and transportation are derived from median home prices, rents and commute times; figures come from BLS, Census ACS, Numbeo and the MIT Living Wage Calculator.
The big picture
Comparing Austin and Cape Coral reveals a clear difference in overall cost of living. Austin is noticeably more expensive across the board, primarily driven by its significantly higher housing costs. While other categories show smaller gaps, the substantial difference in housing makes Austin a more costly place to live when considering all expenses. Cape Coral generally offers a more budget-friendly environment for residents.
Housing
Housing presents the biggest cost disparity. Both buying a home and renting an apartment are considerably more expensive in Austin. In Cape Coral, while housing is more affordable, potential homeowners should factor in additional costs such as higher homeowners insurance premiums, the potential need for flood insurance, and common community association or development district fees. Property taxes also reset to market value upon sale in Florida.
Taxes and everyday costs
Daily expenses for transportation, food, healthcare, and utilities show smaller differences, though Austin tends to be slightly higher in most. A significant financial consideration is state income tax; neither state has one, which can be a benefit for residents in both metros. This means more of your earned income remains in your pocket, offsetting some of the other costs of living in either location.
Lifestyle trade-offs
Beyond costs, a move between these metros offers distinct lifestyle changes. Austin has a more inland, humid subtropical climate, while Cape Coral is coastal with a tropical feel, experiencing hurricane season. Getting around in both metros typically relies on personal vehicles, with similar commute times. Cape Coral generally offers a more relaxed pace and a lower population density compared to the bustling urban environment of Austin.
Bottom line
For a household budget, moving from Austin to Cape Coral would likely result in substantial savings, mainly due to the much lower housing costs. While other daily expenses are somewhat similar, the significant difference in shelter costs creates a noticeable financial advantage in Cape Coral. However, potential residents of Cape Coral should be prepared for specific Florida-related housing expenses like elevated insurance and property tax considerations.
| Measure | Austin, TX | Cape Coral, FL |
|---|---|---|
| Overall cost of living (US avg = 100) | 118 | 105 |
| Housing index | 132 | 105 |
| Transportation index | 109 | 101 |
| Food index | 102 | 97 |
| Healthcare index | 102 | 98 |
| Utilities index | 112 | 110 |
| Misc index | 102 | 92 |
| Median home price | $498,000 | $368,000 |
| Median 1-bedroom rent | $1,750/mo | $1,600/mo |
| Average commute | 30 min | 28 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Cape Coral home with the True Cost Calculator.