Austin Chamber of Commerce Metro Comparisons: Austin & Los Angeles

Individual Income Tax

Maximum rate, tax year 2011 California Texas 9.30%1 None

Source: Federation of Tax Administrators, http://www.taxadmin.org/fta/rate/tax_stru.html.

U.S.=100, Year Ending 2011 Q2 Grocery TransporHousing Utilities tation items

[13.31%] [29.27%] [10.22%] [9.86%]

Cost of Living Index

Composite

Health care
[4.23%]

Misc.
[33.11%]

Austin MSA Los Angeles MDiv

94.1 135.7

86.1 107.2

83.2 203.6

105.5 106.6

100.6 111.4

100.5 109.7

100.8 106.7

Source: The Council for Community & Economic Research, ACCRA Cost of Living Index, http://www.c2er.org.

Median Home Price

Existing Single-Family Homes

2008 Austin MSA Los Angeles MSA United States $188,600 402,100 196,600

2009 $187,400 333,920 172,100

2010 $193,600 316,700 173,100

Percent change 2008-2009 -0.6% -17.0 -12.5 2009-2010 3.3% -5.2 0.6

Source: National Association of Realtors, http://www.realtor.org/Research.nsf/Pages/MetroPrice.

Housing Opportunity Index

2nd Quarter 2011
1

An additional 1% tax is imposed on taxable income over $1 million.

HOI: Share of homes affordable for median income Austin MSA Los Angeles MDiv United States 71.5% 41.6 72.6

Median family income $74,900 64,000 64,200

Median sales price $191,000 310,000 172,000

Source: National Association of Home Builders, http://www.nahb.org/page.aspx/category/sectionID=135.

Median Apartment Rents

2012 1 bedroom Austin MSA Los Angeles MDiv U.S. Metros2 United States3 $812 1,245 867 812 2 bedrooms $989 1,554 1,034 970 3 bedrooms $1,331 2,087 1,355 1,270

Source: U.S. Department of Housing & Urban Development, http://www.huduser.org/datasets/50per.html.

Average Home Price

4-bedroom, 2-full bath homes, 2011

Submarket4 AUSTIN CEDAR PARK Austin MSA GEORGETOWN PFLUGERVILLE ROUND ROCK SAN MARCOS Los Angeles MDiv LANCASTER

Average Price $283,243 230,528 252,422 180,459 201,150 207,552 $150,970

2 3 4

Weighted average of medians for all U.S. metros. Weighted average of medians for all U.S. counties.

Many submarkets are reported for some metros. This table represents prices in the 6 largest reported submarkets based on 2010 population.

Submarket LONG BEACH LOS ANGELES PALMDALE PASADENA POMONA United States
Source: Coldwell Banker, http://hpci.coldwellbanker.com/.

Average Price 485,399 795,632 168,920 844,037 269,585 $293,000

Metropolitan Area Definitions5

Austin-Round Rock, TX MSA Bastrop County, TX Caldwell County, TX Hays County, TX Travis County, TX Williamson County, TX Los Angeles-Long Beach-Santa Ana, CA MSA Los Angeles-Long Beach-Glendale, CA Metropolitan Division (MDiv) Los Angeles County, CA Santa Ana-Anaheim-Irvine, CA MDiv Orange County, CA

There are alternative definitions of New England metropolitan areas. While metropolitan areas are combinations of one or more counties in the rest of the nation, New England metros were originally defined as combinations of cities and towns. However, county equivalent definitions have been adopted by a number of data sources. Most of the data sources in this comparison employ county equivalent, with the U.S. Bureau of Labor Statistics being the primary exception.