Austin Texas is nice but it is tiny and very very crowded. Since people are flocking there from every direction it has become quite pricey to live there. Two bedroom apartments will easily run you $1000+ a month and there is very little to do there outside of getting drunk and paying tons of money to eat at whatever new restaurant is trendy. Austin is a great place to visit, which you can do often if you live in Waco. Also, Waco is a nice town that is growing quickly. It is full of opportunities for small business and is quickly putting itself on the map. Baylor University is great, but no one cares how many PhD’s there are in Waco. There are a ton of people in New York with PhD’s too…Dallas sucks.