Big bucks needed to be considered “rich” in Austin

(Texas News Radio) — How much do you need to make to be rich in Texas’ largest cities?

GoBankingRates ranked the nation’s 50 largest cities by how much income is needed to be “rich” — or in the top 20 percent of income — in each city.

The least amount of money needed to be considered rich in Texas is in El Paso where an income of $94,422 would make you “rich”, ranking 45th.  The average “rich” person in El Paso makes $159,753.

San Antonio was next, ranking 38th, with an income of $103,459.  Someone in the top 20 percent income range makes $177,051 on average.

Dallas ranked 28th with an income of $112,570 putting you in the “rich” category.  The average “rich” person there makes $249,354.

Houston was 25th on the list, at an income of $115,794.  The average “rich” person in Houston makes $238,529.

Arlington and Fort Worth were 23rd and 22nd on the list.  An income of $116,807 would make you “rich” in Arlington, earning $120,362 earned the same title in Fort Worth.  The average “rich” person in Arlington makes $188,180 while the average “rich” person in Fort Worth makes $204,008.

Austin ranked in the top 10 at 8th — ahead of New York, which was 9th, and Los Angeles, which was 13th.  In order to be considered “rich” in Austin, you would need to make $145,166.  The average “rich” person in Austin makes $267,777 each year.

The top 10 cities with the highest incomes needed to be considered “rich”:

1. San Francisco $239,840
2. San Jose $214,975
3. Washington $189,293
4. Seattle $186,063
5. Oakland $161,345
6. Boston $159,024
7. San Diego $157,252
8. Austin $145,166
9. New York $144,541
10. Denver $141,801

The top 10 cities with the lowest incomes needed to be considered “rich”:

1. Detroit $66,139
2. Milwaukee $84,764
3. Tucson $86,761
4. Memphis $86,964
5. Miami $92,902
6. El Paso $94,422
7. Indianapolis $97,257
8. Tulsa $100,527
9. Philadelphia $101,220
10. Columbus $101,704