Miami vs. Austin: Cost of Living, Economy, and Things to Do

While both Miami and Austin are considered lively and youthful, these two southern cities are quite different. They differ in size, amenities, lifestyle, and culture. Let’s take a deeper look at Miami vs. Austin and see how living and working in these two dynamic cities compares. 

Quick Stats: Population, Salary, and Housing

Size & Location

Miami Geography & Population

While Miami’s population of 442,241 may seem small, when you consider that the city spans only 56.07 square miles, it really puts the population density into perspective. As mentioned above, that’s 12,284.47 people per square mile. Of course, that’s the tradeoff of living the Florida beach life. Miami’s southern coastal location is also conveniently located within a couple-hour drive to Fort Lauderdale, the Flordia Keys, and Everglades National Park. 

Austin Geography & Population

In comparison, the capital city of Austin covers 326.51 total square miles. The larger city region allows the 964,177 residents to spread out and enjoy more space. While Austin is landlocked, you can reach the Gulf coast within a 3-hour drive and relax on the beaches in Corpus Christi or Galveston.

Things To Do in Miami vs. Austin

Miami Culture & Entertainment

While there are endless stretches of beaches to explore and relax at, there are numerous other activities, entertainment, nightlife, and sports to enjoy in the bustling city. Whether you prefer to enjoy cultural food, soak in the sun, or stroll the museum floors admiring art displays, we’ve put together a list of a few favorite places:

• South Beach 
• Art Deco Historic District
• Calle Ocho 
• Little Havana
• Key Biscayne
• Wynwood Walls
• Perez Art Museum Miami
• Coconut Grove
• FTX Arena

Austin Culture & Entertainment

While it’s hard to compete with the diverse cultural landscape of Miami, Austin is up for the challenge. The city is known as The Live Music Capital of the World. A title that quickly sets them apart from the competition. The city has over 250 music venues and offers live music around the clock for its residents and visitors. In addition, the city is tucked into the edge of the Texas Hill Country, providing limitless opportunities for exploration and outdoor recreation. While Austin might be an inland city, that doesn’t

While Austin might be an inland city, that doesn’t mean residents have to look far to enjoy a day at the beach. A coveted spot near Austin is the beautiful Lake Travis, a large reservoir where friends and family can enjoy kayaking, paddle boarding, boating, camping, and plenty more fun Texas activities. Austin’s BBQ scene might also give Miami’s Cuban food a run for its money. 

Industries & The State of Local Economy

Miami Economy

Miami’s economy encompasses commerce, finance, television, and many other diverse industries. Due to the city’s location on the Atlantic coast, Miami is a major international port. As a result, PortMiami is one of the largest ports in the U.S for shipping. In addition, PortMiami is an integral port for cruise line ships as the city provides an excellent setting-off point or layover destination. 

A few large companies to call Miami home include:

• Carnival Corporation
• Norwegian Cruise Line
• Telemundo
• Akerman LLP
• Southern Wine & Spirits
• OPKO Health

Austin Economy

Austin’s economy, on the other hand, revolves around the technology, defense, and pharmaceutical industries. There are a handful of accomplished Forbes list companies in the Austin region. Here are a few worth noting:

• Amazon
• Apple
• 3M
• Google
• Tesla
• Hewlett-Packard
• Oracle

Austin continues to grow as more large companies move their headquarters to the capital city region. With the consolidation of high-tech companies in Austin and a robust small business community, it’s no surprise that the city has frequented the top of the ‘Best Places to Live in the U.S.‘ list. 

Miami vs. Austin: Cost of Living Comparison

Miami and Austin offer contrasting living cost experiences. Miami boasts a vibrant beach lifestyle, but that sunshine comes at a price. Housing, groceries, and general expenses tend to be 5% to 23% higher in Miami compared to Austin. Austin, on the other hand, thrives with a strong tech industry and a burgeoning music scene. While Austin is generally more affordable, it’s important to consider your career path. Miami’s wages might be slightly higher to account for the cost of living, depending on your field.

Beyond the headline numbers, there are some category-specific differences to consider. Transportation costs might be fairly similar in both cities, with gas prices as a national factor. However, if you prioritize a car-free lifestyle, Miami offers a walkable downtown core and a well-developed public transportation system. Austin, while improving its public transit options, remains more car dependent. For those who enjoy dining out, Austin boasts a wider variety of food trucks and trendy eateries, potentially offering more affordable options compared to Miami’s focus on upscale restaurants and beachside cafes.

How To Choose Between Austin vs. Miami?

Would you prefer the Atlantic Ocean waves of Miami to the float-friendly, Lake Travis? Are the Miami crowds calling you or would you prefer the open spaces in Austin? While you’ll find sporting events and live music in both, Miami has more professional teams but Austin is a music mecca.

Life At Lakeside

If you find yourself leaning towards the Texas Countryside and the city of Austin, check out our Lake Travis homes. Contact us today for more info, and check out what our Lake Travis community has to offer. Take a tour of our custom homes and learn more about the convenient amenities Lakeside at Tessera offers.