In Texas, it takes so much money to be “rich”


Household incomes vary across the United States and the purchasing power of a dollar will depend on a number of local factors such as housing, health care and other expenses related to the cost of living. . A recent report highlights the highest average income levels in a number of major US cities, including several areas in Texas. It turns out that what it means to be “rich” varies widely across the Lone Star State.

A recent GoBankingT rate report used data from the US Census American Community Survey to determine the highest and lowest income cities in the country. The data also highlights the highest average incomes in these areas to highlight “how much it takes to be considered rich, or in the top 20%,” the report says.

Overall, San Francisco tops the list with an average income of the highest 5% of $ 743,811, with $ 239,840 listed as the “lowest income to be considered rich.” In order, San Jose, California, Washington, DC, Seattle and Oakland, California round out the top five.

What it means to be “rich” in Texas


In Texas, Austin is the first city to rank 8th, with an average income of the richest 5% of $ 485,554 and $ 145,166 listed as the lowest income for Austinites to be considered wealthy, according to The report.

Forth Worth is listed at No. 22 with an average income of the highest 5% of $ 355,816 and $ 120,362 is listed as the lowest income for area residents to be considered “rich,” according to Go bank rates. Arlington comes in at No. 23 with an average income of the richest 5% of $ 308,114 and $ 116,807 is listed as the minimum income for people to be considered wealthy in the city.

A number of other cities in Texas made it to the top 50 including Houston (# 25), Dallas (# 28), San Antonio (# 38), El Paso (# 45). The full Texas rankings and Go Banking Rate income averages are listed below.

Austin
Minimum income to be considered “rich”: $ 145,166
Average income of top 5%: $ 145,166

Fort worth
Minimum income to be considered “rich”: $ 120,362
Average income of top 5%: $ 355,816

Arlington
Minimum income to be considered “rich”: $ 116,807
Average income of top 5%: $ 308,114

Houston
Minimum income to be considered “rich”: $ 115,794
Average income of top 5%: $ 458,999

Dallas
Minimum income to be considered “rich”: $ 112,570
Average income of top 5%: $ 503,284

San Antonio
Minimum income to be considered “rich”: $ 103.45
Average income of top 5%: $ 307,182

El Paso
Minimum income to be considered “rich”: $ 94,422
Average income of top 5%: $ 274,474


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