Not to mention that it's a great city for devs, especially considering its modest size. It's not Silicon Valley, but there's multiple developer events in town pretty much every night of the week every month. For instance: want to go to a python-specific event? Well, there's the Austin Python meetup, the Austin Web Python meetup, Austin PyLadies, Austin Learn Python, Python Pub Crawlers... all active groups. I'm probably leaving some out, too. At least 3 Wordpress groups in town, etc. Sit in coffeeshops, and you'll probably overhear details on someone's startup.
I third this. Austin, is IMO, the best place right now to develop software if you want to do it for cheap. Great balance between cost of living, opportunity, and access to resources.
