Austin has a good IT industry, the pay is equal to or in some cases more than in LA but the cost of living is much less. Factor in housing and you’re looking at 50% less in costs. That is HUGE!
Living in LA/OC is not feasible anymore for people starting out since you cannot get ahead unless you either make over $200,000/yr or bought a home before 1999.
If home prices crash and rents go down then things may look promising but until then it’s not a good place to get ahead financially.