Hello to you both,
I will be joining you at UT as a PhD candidate in the fall. I believe I attended the same event as Themissingsock and had a very similar impression. When I started finding schools to apply to, I excluded none and went for the places that I truly believe to be the best in the country for the literacy studies I want to pursue. UT has always been the top pick. They have had the highest research expenditures in Education for 6+ years, and the PhD is a research degree. It is hard to argue with that. The school has a great reputation and every single person I met during my visit was outstanding. They seemed like people committed to growth- people unafraid to admit what they don't know and dedicated to seeking answers. They also seem committed to preparing new teachers and providing excellent coursework and experiences to students at all levels.
My husband and I are taking a trip next week to try to find a place to live. My general impression as an outsider is that the north suburbs/ Round Rock area is mostly McMansionish subdivisions, south Austin is the part they like to "keep weird" and the east side has traditionally been a lower-income area, but is developing quickly. We spoke with a realtor who said 140 people PER DAY move to Austin, and it is a competitive sellers/landlord's market to live in. Be prepared to put money down immediately if you find a place you like.
*I just wanted to add that I also heard Hyde Park was a big area for grad students to live. When my husband and I looked at the area, we found it really over priced and only suitable for us to rent in. The price per square foot was double in some areas than it was in south and east Austin where we are looking. I know everyone's situation is different, but we are finding that it is actually cheaper overall to buy a home a little further out than to try to rent close to campus. We're old farts who don't mind being in a less hip area to save a few bucks.
Best wishes for the big move!