I lived in Austin for years and I loved it - although the traffic is fairly horrendous now. You would probably want to do some job searches to verify that you could get the salary that you want. Austin is home to a large university and very close to a large number of other universities and colleges, and a lot of those kids want to stay in the area.
Are you planning to rent or buy? In Texas, we don't have a state income tax, and they make up the revenue with high property taxes. If you are planning to buy a home soon, you'll need to keep those additional costs in mind. If you are renting, keep in mind that there are tens of thousands of students looking for cheap housing too.
I'm in IT, and when I worked in Austin salaries were often lower than a lot of the other areas, but benefits could be really, really good (stock grants, employee stock purchase, good 401k matching). I assume that's still the case now (10 years later). These types of benefits don't get included in the generic salary surveys.