Not So Breaking News
Austin lands on top 10 list of richest cities in the U.S.
Though you can still get a Lone Star and a shot of whiskey for $5 at most dive bars, the cost of living is inching ever higher in the Capital City. USA Today recently published the top 10 richest cities in the U.S. and Austin is sitting pretty at No. 10.
To find the 10 richest, researchers examined cities with populations greater than 500,000 and with the highest percentage of households earning at least $150,000 per year. Based on the cost of living (which includes everything from housing prices to food costs), researchers also calculated the salary needed in order to live comfortably in each city.
Now, while housing prices are climbing and more million-dollar homes were sold in 2014 than ever before, there is some hope. While Austin has a high percentage of six-figure earners, thanks in part to our booming tech scene, locals don't actually need that much money to live comfortably. The "magic salary" in Austin is $72,912, below the national median of $75,000 and well below any of the other cities on the list.
Austin was the only city in Texas — and the southern U.S. in general — to make the list. Not surprisingly, San Francisco came in at No. 1, followed by San Jose (No. 2) and Washington, D.C. (No. 3).