How Much You Need To Earn To Be Rich In Austin

AUSTIN, TX — A new report has crunched the numbers to determine how much money you need to be considered rich in 42 of the nation's largest cities, including Austin.

Before we get to that, some context: About one in five Americans is considered to be in the upper-income bracket, meaning these folks earn twice the national median household income of $59,039 in 2016, according to the Pew Research Center. Given that reckoning, the new Business Insider study concludes that overall in the U.S., you'd need to earn $118,080 to legitimately label yourself as rich.

And now, what you've been waiting for (drum roll, please): To be considered rich in Austin (metro area population 2.1 million), you need to earn more than more than $142,000, analysts found. To make it to the upper crust — which is to say a member of the "1 percent" — you need an astounding $424,507. That's a figure applicable not just to Austin, mind you, but for the whole of Texas.

If you're already making more than 142 grand, congrats. You're not filthy rich, but rich nonethess. Achieving that elusive 1 percent status, well that's another kettle of fish entirely. It takes more money to be considered rich in Austin than in Dallas, Houston or San Antonio, according to the findings. Here's the breakdown:

DALLAS

• Income needed to be considered rich: More than $127,624
• Money it takes to be in the top 1 percent: $424,507
• Median income in Dallas: $63,812
• Metro-area population: 7.2 million

HOUSTON

• Income needed to be considered rich: More than $123,416
• Money it takes to be in the top 1 percent: $424,507
• Median income in Houston: $61,708
• Metro-area population: 6.8 million

SAN ANTONIO

• Income needed to be considered rich: More than $112,210
• Money it takes to be in the top 1 percent: $424,507
• Median income in San Antonio: $56,105
• Metro-area population: 2.4 million

Click here to read the full report.

>>> Photo from downtown Austin by Tony Cantú