In a recent list published by The Cheat Sheet, Austin was named the 10th richest city in the US and was the only Texas city to make the list. If you look at the rest of the list, you’ll notice that though they may have a higher percentage of high earners living in the city, they have a higher cost of living as well. High earners living in Austin are able to have more disposable income and enjoy many more of the fun things the city has to offer.
What Criteria Was Used to Make the List?
The Cheat Sheet used data from FindtheBest and included cities with a population greater than 500,000. They then looked at the cities that had the highest percentage of households earning at $150,000 or more per year.
Richest Cities in the US
What other cities made the list? Check out the list of Top 10 Richest Cities in the US according to the Cheat Sheet. You can read more about the study here.
- San Francisco, CA
- San Jose, CA
- Washington, D.C.
- Seattle, WA
- San Diego, CA
- Boston, MA
- New York City, NY
- Los Angeles, CA
- Denver, CO
- Austin, TX
How Much Do You Need to Be Comfortable Living in the Richest Cities in the US?
These numbers varied a little more, depending on the state. Here is how the list breaks down in terms of how much a household would need to make to live comfortably in each of the richest cities in the US.
- San Francisco – $124,561
- San Jose – $115,515
- Washington, D.C. $108,092
- Seattle – $93,634
- San Diego – $101,984
- Boston – $106,082
- New York City (Brooklyn) – $131,365
- New York City (Manhattan) – $169,639
- New York City (Queens) – $116,907
- Los Angeles – $102,061
- Denver – $82,036
- Austin – $72,912
Austin is the Least Expensive Rich City to Live in the US
Looking at how much it costs to live comfortably in each of the richest cities in the US, Austin is by far the least expensive. High earners in Austin can spend nearly ½ their income on fun activities and vacations, which explains why Austin residents have a higher quality of life. Austin is a place where you don’t have to make a mint to be able to enjoy festivals, eating out or traveling, which is a big reason so many are attracted to it from cities like San Francisco and New York.
Why We Relocated to Austin from San Francisco
We relocated to Austin from San Francisco about 6 years ago and absolutely love it. There’s a lot to be said for being able to spend more of your income on leisure, especially in a city like Austin where there are tons of activities to experience. Here are the 10 reasons we relocated to Austin.
Considering Relocating to Austin?
Having done so ourselves, we know the process and how to help you avoid the mistakes we made. We also know the entire Austin metro area, so we can help you figure out the best place for you and your family, not try to convince you the area we specialize in is the only place to live. To learn more about our team of experienced buyer’s agents, check out our Austin Home Buyers section. Then, call us at (512) 827-8323, email us at info@11OaksRealty.com or fill out our Relocation Survey to get started. Remember, hiring an Eleven Oaks Realty buyers agent to help you buy a home in Austin costs you nothing. Our fee is paid by the seller!