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Crunching the numbers: Austin reported as one of the least affordable big cities in the country
In a new real estate report looking at the most and least expensive cities to buy a house, Austin crumbled, falling near the bottom of the list and below every other Texas city mentioned.
Of the country's 50 biggest cities, Austin fell to 36th place on SmartAsset's "Where the Average Household Can Afford the Most and Least Home–2020 Edition."
Using a home buying calculator, the financial website took the median household income and average non-mortgage debt per city and used it to estimate how much home an average household could afford. From there, cities were ranked based on the area's median home value.
Though fortunately Austin did not top the list of least affordable cities, the city is not doing residents any financial favors. With a median income of $75,413 and $27,193 worth of non-mortgage debt, the average Austinite can afford a home priced at $317,000.
The median house value in Austin is $378,300, making it only 83.8% affordable. Last year, Austin came in 36th place again, though at a 77.4% affordability rate.
With Detroit ranking first and 191.85% affordable and New York City coming in 50th and most expensive at 42.45% affordable, the other Texas cities on the list had a wide range to work with.
In ninth place, El Paso has a 133.23% affordability rate. Fort Worth came in 13th place with a 122.73% affordability rate, followed immediately by San Antonio in 14th place with a 121.57% affordability rate, Arlington in 20th place with 112.25% affordability rate and Houston came in 28th place with a 101.63% affordability rate.
Dallas came in 30th, the only other city not above 100% affordable, with a 92.91% affordability rate.
Austin is not alone though, as 22 of the 50 cities could not afford a house at the median value.
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The Texas Department of State Health Services will allocate 332,750 doses of the COVID-19 vaccine to 212 providers this week, with the bulk assigned to hub providers that are focused on widespread community distribution events. Six of those providers are in Travis County.
With the latest allocation of 16,450 sent to Travis County this week, the county will have received 104,275 doses of the vaccine. Local public health officials estimate that there are 285,000 area residents who fall in the 1A and 1B priority groups, meaning that around 37% of them should have access to doses seven weeks into the rollout process.
Here's where the latest allotment is going:
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The California exodus has made headlines for several years now, and even more recently, with thousands of West Coasters seeking tax relief, less-expensive real estate and a simpler lifestyle in Texas' capital city.
However, a California man's scathing review of Austin, which was published in Business Insider on Wednesday, reveals that some are less than satisfied with their move.