Very different cities.
Houston is not a party city. Austin is. Genuinely be careful about going to McCombs if you feel that you could be distracted. I'm not discounting how great a program it is, but I'd be remised not to say that students that don't come in with strong moral foundations can slip in that environment.
Houston still has a traditional Texas feel (think Dallas,) Austin has a Texas + California feel which would expose you to more varieties of American culture.
Houston is more business, and family friendly. Austin is more young adult, and tech forward.
Much, much more tech opportunities in Austin as well as an amazing sport scene that Rice does not have.
You can check the Michelin guide to see that both cities have great food, although Houston being a larger city has more food options and overall more quantity of better restaurants. Although per capita it's probably about the same.
WA@kms161
What is difference in city life
Houston vs Austin