Note before reading this that I am not an expert or resident of TX, but..I have friends in TX that don't live in Austin, but have traveled there often enough that I can confirm that traffic is bad. Rent costs are rising, but the cost of living is still relatively low in TX as a whole, so it should all balance out. Another piece of advice is that the motto there is "Keep Austin Weird" and it can be pretty diverse, with a really decent local music scene.
Again, this is based off of communications with TX friends, and not official advice upon which you should base such an important decision. Definitely do some research/Google-Fu, etc. (Maybe post something in r/Austin for info from local residents, too.) Either way, good luck!