It depends on what you're looking for. Austin is funkier, more laid back, and bills itself as being the Best Live Music Scene in the world. It's a college town, and the state capitol. Each of those designations brings with it certain attitudes that sometimes conflict. The once thriving tech sector is slowly folding.

Dallas has a bigger population. Besides the problems overcrowding brings, the higher tax base tends to compensate with more if not better social services. If you're a business traveler, Dallas has one airport better than Austin Bergstrom and one smaller airport.

Freeways: Dallas. Entertainment: Austin. Wage earning potential: You're more likely to make higher wages in Austin, but you're more likely to get a job in the first place in Dallas.
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