Make $145,000 or more in Austin?
Your bank statement may pale in comparison to fellow Austinites Elon Musk or billionaire Robert F. Smith, but anyone with that or more on their yearly salary checks can now classify themselves as wealthy alongside the elite, according to a recent study by finance media site Banking Rates.
The study classified those in the top 20% of income as rich across 50 cities in the U.S. Austin, which saw the highest rates of any Texas city, found that it takes at least a $145,000 yearly statement to fit into that category.
But an average person in that high brow category shoots even higher: the average income among those 20 percenters was $267,777. The study, which used data from the U.S. Census and American Community Survey, also found the average income of the top 5% to be over $485,000.
Austin's average incomes came in eighth highest on the list and higher than Texas cities including Fort Worth (22), Arlington (23), Houston (25), Dallas (28) and El Paso (45). Starting incomes in the top 20% ranged from $116,807 in Arlington to $94,422 in El Paso.
Labeled a "little California" by the aforementioned Musk and thousands of Californians moving to Austin to avoid their home state's higher cost of living, it's no surprise that Austin sat just below West Coast cities San Francisco (1), San Jose (2), Seattle (4), Oakland (5) and San Diego (7). San Francisco's top 20% starts at nearly $240,000, the highest on the list, while Washington, D.C. (3) and Boston (6) rounded out the list's top eight.
And while average income falls well below the $145,000 mark and significantly lower than West Coast hubs, Austin's median household income increased by 30% from 2014 to 2019, where it reached just over $71,500. But the high-demand local economy is starting to sag under the weight of new move-ins—including big-name tech companies and startups—and Austin's former low cost of living is predicted to be the highest in a country outside of California by the end of the year.
Despite high incomes when compared to other Texas counterparts, Austin is encountering an affordability crisis, with studies showing that the city is among the most unfriendly in the U.S. for minimum wage workers—even if the bar was raised to $15 an hour.
But the formerly flaming hot housing market is beginning to slow, and as a 2020 CNBC budgeting article shows, those making $145k aren't likely to have many budgeting issues anytime soon. And for homeowners, many former West Coasters, techies and anyone who made the "rich" list, the city is still among the best relocation markets in the world as it continues to solidify its "boomtown" status.
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Despite a 2-0 deficit, there was a pot of gold for Austin FC after all as it celebrated its annual Pride Night with rainbows and a 2-2 comeback draw to FC Dallas Saturday night.
After three FC Dallas losses last season, the Dallas derby draw marks the first time Austin FC has tied against its Copa Texas rival. Austin continues to edge over FC Dallas as it sits at 3rd in the MLS West.
Here are the biggest takeaways from the match:
A somber start
Decked out in colorful hues for LBGTQ+ Pride, Verde fans started the match on a somber note as they held up banners to take a stand against gun violence before the match.
As the national anthem began, fans held up banners with the names of each child that was killed in the Uvalde school shooting and a plea to "end gun violence."
The supporters' section was also dotted with Pride flags and a "Bans off Our Bodies" banner in protest of the Supreme Court's decision to overturn Roe v. Wade.
FC Dallas earns a 2-0 lead
That sober tone continued onto the pitch. With midfielder Daniel Pereira's absence due to a red card, the Verde and Black lost two goals to FC Dallas by the 70th minute of play.
FC Dallas played it sneaky for the first half of the match, giving Austin FC plenty of room to hold possession as it waited to strike on a Verde error. That mentality proved dangerous for Austin as Dallas' Paul Arriola took advantage of Brad Stuver's deflection to score the first goal of the night in the 57th minute of play.
Dallas struck once more as Brandon Servant pushed past the Verde line to score the second goal of the match.
Austin FC strikes back
But energy quickly returned to Austin's favor thanks to Designated Player Sebastian Driussi, who scooted past several FC Dallas defenders alongside Moussa Djitte to snag an unlikely first goal for Austin.
A full Verde comeback
Austin's subs proved deadly as momentum returned to the home team toward the end of the match. A well-placed cross from Nick Lima—and a diving header from a fresh-legged Danny Hoesen—helped the team secure the draw with a second Verde goal in the 84th minute of play.
Hoesen, who was Austin's first starting striker last season, has now scored two goals with the team after a yearlong injury stuck him on the bench.
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Hours following the U.S. Supreme Court's ruling to overturn Roe v. Wade, the landmark ruling that guaranteed a constitutional right to an abortion, on Friday, about 1,000 people gathered in Republic Square with signs calling for change.
The rally, organized by the group Rise Up 4 Abortion Rights Texas, started at the federal courthouse on Republic Square on Friday at 5 p.m. before the crowd marched to the Texas Capitol. More protests are expected to ensue over the weekend.
People showed up with all types of signs like Mindy Moffa holding up, "Keep your filthy laws off my silky drawers."
Austin joined cities across the country that saw protests for a women's right to an abortion after the ruling.
According to a recent UT poll, 78% of Texas voters support abortion access in most cases.
Sabrina Talghade and Sofia Pellegrini held up signs directed at Texas laws. A Texas trigger law will ban all abortions from the moment of fertilization, starting 30 days after the ruling. When state legislators passed the trigger law last summer, it also passed laws for more protection of firearms, including the right to open carry without a permit.
Lili Enthal of Austin yells as around 1,000 Texans marched to the Texas Capitol.
From the Texas Capitol, Zoe Webb lets her voice be heard against the Supreme Court ruling.
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