Here’s how much money you need to be considered ‘rich’ in Austin

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AUSTIN (KXAN) – Do you want to be rich? In the city of Austin, you will need to earn over $ 145,000 per year to fall into this category, compared to other residents of this city.

Banking Rates, an online financial publication, examined how much money you would need to be “rich” in 50 major cities across the United States.

The company has defined the rich in this post as those in the top 20% in terms of their income. The figure of $ 145,000 would be the lowest income to fall into that 20% category.

They also looked at the average income of people earning in the richest 20% and the average income of people in the richest 5%.

Austin came in eighth for the amount of money you would need to earn to be considered rich, of the cities reviewed.

8. Austin, Texas

  • Population: 950,807
  • Lowest income to be considered “rich” (top 20%): $ 145,166
  • Average income of the top 20%: $ 267,777
  • Average income of the richest 5%: $ 485,554

Austin came just behind San Diego. San Francisco tops the list, with the highest cut-off for being in the top 20 percentile.

Austin was the highest city on the Texas list. Here are the others who made the cut.

45. El Paso, Texas

  • Population: 679,813
  • Lowest income to be considered “rich” (top 20%): $ 94,422
  • Average income of the top 20%: $ 159,753
  • Average income of the richest 5%: $ 274,474

28. Dallas

  • Population: 1,330,612
  • Lowest income to be considered “rich” (top 20%): $ 112,570
  • Average income of the top 20%: $ 249,354
  • Average income of the richest 5%: $ 503,284

25. Houston

  • Population: 2 310 432
  • Lowest income to be considered “rich” (top 20%): $ 115,794
  • Average income of the top 20%: $ 238,529
  • Average income of the richest 5%: $ 458,999

23. Arlington, Texas

  • Population: 395,477
  • Lowest income to be considered “rich” (top 20%): $ 116,807
  • Average income of the top 20%: $ 188,180
  • Average income of the richest 5%: $ 308,114

22. Fort Worth, Texas

  • Population: 874,401
  • Lowest income to be considered “rich” (top 20%): $ 120,362
  • Average income of the top 20%: $ 204,008
  • Average income of the richest 5%: $ 355,816


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