Overall, you'll find Jersey City is considerably more expensive than Austin. The biggest factor by far is housing. Expect to pay a steep premium for rent and home prices in Jersey City, a direct result of its location across the river from Manhattan. While Austin's housing market has become famously pricey, it generally remains more accessible than what you'd encounter in the NYC metro area.
The financial picture gets interesting when you look at taxes. Austin benefits from Texas having no state income tax, a major financial perk for earners. This advantage, however, is often balanced by very high property taxes. Jersey City residents contend with both a state income tax and some of the highest property taxes in the nation. Day-to-day costs, such as groceries, transportation, and utilities, also tend to be moderately higher in Jersey City. Essentially, while Austin is no longer a cheap city, your money will not stretch nearly as far in Jersey City.
Overall, you will find that Jersey City is significantly more expensive than Austin. The biggest factor driving this difference is housing. Rent and home prices in Jersey City are substantially higher due to its location within the New York City metropolitan area.
Taxes also play a critical role. While Austin residents benefit from Texas having no state income tax, they do face very high property taxes. In contrast, New Jersey has high state income taxes and some of the highest property taxes in the nation. Everyday expenses, including groceries, transportation, and utilities, also tend to cost more in Jersey City. Even with Austin's rising costs, it remains the more affordable city of the two.