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

Financial

(Photo: Getty Images)

AUSTIN (KXAN) — Want to be rich? In the city of Austin, you’re going to need to make more than $145,000 a year to fall into that category, compared to the other folks in this city.

Banking Rates, an online finance publication, looked at how much money you would need to be “rich” in 50 major United States cities.

The company defined rich, in this publication, as the people in the top 20-percentile when it comes to their income. The $145k number would be the bottom income to fall into that 20% category.

They also looked at the average income of people who have a salary in the top 20% and the average income of people in the top 5%.

Austin came in eighth for amount of money you would need to make to be considered rich, of the cities looked at.

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 Top 5%: $485,554

Austin came in right behind San Diego. San Francisco topped the list, with the highest threshold for being in the top 20 percentile.

Austin was the highest city on the list from Texas. Here are the others that 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 Top 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 Top 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 Top 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 Top 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 Top 5%: $355,816

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