Austin is a safer and cleaner city than Houston. It's also a quieter environment, so many families prefer to live there. Of course, with security comes higher real estate prices. However, homes in Austin tend to appreciate in value faster than homes in Houston.
Houston has better food (especially ethnic food), museums, art, and is more diverse. If you didn't take advantage of it while you were in Houston, you won't miss it, since, by comparison, Austin is a small city and mostly lacks diversity. Everyone here looks the same, eats and drinks in the same places and drives really badly for some strange reason. Now that I've established that Houston can do anything Austin does, it's time to turn the question around and list all the qualities Austin lacks.
Houston beats Austin in a lot of things to do, but Austin takes home in the lifestyle category to beat his Texan brother once and for all.