Chuck,
I love Austin and so does my family. Bear in mind that I haven't been to many other places so I really don't have much to compare it with other than San Antonio and Edinburg.
Housing cost a bit higher but there are tons of things to do (cheaply). Depending on your life style, there are lots of activities that can be done for free. If you love nature, there are an abundance of sprawling parks, lakes and rivers that basically are available year round. I think I have 5 parks within 15 mile radius of my apartment. I am told that a couple of them are more than 300 acres each!!! (obviously, the parks extend out of that radius LOL). People look health conscious and are pretty active.
Can't talk much about sporting events, concerts, plays, clubs, etc. but I know they have lots of those here too.
People are also very friendly and even though I am Asian, I never felt treated differently. Do watch where you go, I've heard that there are places/neighborhoods to avoid. I normally do not generalize but I am advised unanimously to avoid the East side (of I-35).
Hope this helps.