AUSTIN (KXAN) — Those looking to live comfortably in in the Texas capital will need to make well into the six-figure salary range, according to a late September analysis from GoBankingRates.
The analysis determined a $122,229 income is the living cost needed to “live comfortably” in Austin. GoBankingRates defined that phrase using a 50/30/20 budget model, where 50% of an Austin resident’s income went to necessary expenses, 30% went into savings and 20% was allocated to wants or more frivolous spending.
“The idea is to prioritize necessary spending and savings while still allowing for some guilt-free discretionary spending,” the report read in part.
The Texas city landed as the No. 14 least-budget-friendly city among the country’s Top 50 biggest cities, trailing behind pricier cities in California and those closer to the East Coast. The Top 25 breakdown appeared as follows:
- San Jose, California: $258,255
- San Francisco, California: $245,527
- San Diego, California: $202,621
- Los Angeles, California: $189,923
- Long Beach, California: $174,439
- Seattle, Washington: $174,304
- New York, New York: $173,397
- Oakland, California: $165,441
- Boston, Massachusetts: $161,338
- Washington, D.C.: $150,056
- Miami, Florida: $141,489
- Denver, Colorado: $129,021
- Portland, Oregon: $123,299
- Austin, Texas: $122,229
- Sacramento, California: $116,807
- Las Vegas, Nevada: $111,416
- Atlanta, Georgia: $109,845
- Mesa, Arizona: $108,412
- Nashville, Tennessee: $107,081
- Phoenix, Arizona: $106,440
- Colorado Springs, Colorado: $105,912
- Raleigh, North Carolina: $105,549
- Virginia Beach, Virginia: $104,145
- Charlotte, North Carolina: $100,911
- Bakersfield, California: $100,719
Elsewhere in Texas, Dallas ranked No. 27 for its necessary income level, with residents needing $93,482 to live comfortably. Arlington came in at No. 30, with $92,096 needed.
Fort Worth ranked No. 32 and had an income threshold of $90,043 to live comfortably, while Houston settled at No. 35 with a comfortable income level of $85,804.
San Antonio and El Paso were the final two Texas cities included in the analysis with San Antonio ranked No. 39 with an $80,175 comfortable income level and El Paso coming in at No. 45 with an income of $74,721 flagged.
The report found communities in the south and Midwest were the most budget-friendly among cities, while California residents needed a substantially larger budget to live comfortably.
The full analysis is available online.
