Your Holiday Budget: $1,300

Holiday spending this year is predicted to be the highest in the annual National Retail Federation survey’s history, and shoppers in the Austin area will be dropping an average of over $1,000 per person.

A recent WalletHub survey estimated Austin residents will have an average holiday budget of $1,019, and will rank 148 in national holiday budgets by city. Round rock will rank 68, and residents will have an average holiday budget of $1,304. Palo Alto, Calif. was number one on the list with an average budget of $2,886, followed by: Flower Mound, Texas at $2,624; Frisco, Texas at $2,444; and Sugar Land, Texas at $2,422. Houston ranked 298 on the list with an average budget of $795, and Dallas was at 356 with a budget of about $742.

The lowest ranking Texas city was Waco, with a standing of 557 and an estimated budget of $142. The lowest ranking city in the country was Albany, Ga. at 563, with an average budget of $68.

Across the country, the average spending per person will be $805.65, compared to $802.45 in the 2014 holiday season. Spending on gifts for family members will average at $462.95 per person (compared to $458.75 last year), which is an all-time high,

Almost half of the country’s shopping is expected to be done online, and 21.4 percent of smartphone owners will use their device to purchase holiday merchandise this year. The survey also found 55.8 percent of holiday shoppers will splurge on themselves or purchase non-gift items and will spend an average of $131.59, compared to $126.37 last year.

“Despite the challenges that still exist in our economy, it looks as if consumers are eager to celebrate the holidays with friends and family this year,” said NRF President and CEO Matthew Shay. “We expect consumers will tackle their holiday shopping lists with a healthy dose of optimism, tempered by a hint of caution as they look for ways to find the perfect, practical gift.”

See the full report HERE.