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Here's how far a middle-class salary goes in Austin

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Outside of East and West coast cities, only Denver rivals Austin's cost of living in a new study by GoBankingRates that looked to see how far such salaries go in the largest U.S
The article from MSN discusses the financial implications of living in Austin, Texas, on a middle-class salary. It highlights that despite Austin's reputation for a high quality of life, the cost of living has escalated, particularly in housing, where median home prices have soared past $500,000. This increase is attributed to Austin's booming tech industry, which has attracted a significant influx of high-earning professionals, thereby driving up demand for housing and other amenities. The article points out that a middle-class salary, often defined as between $40,000 to $100,000, does not stretch as far as it used to due to these rising costs. It provides a breakdown of expenses, showing that even with a salary at the higher end of the middle-class range, residents might find themselves house-poor, spending a disproportionate amount of their income on housing. Additionally, the article touches on other living expenses like transportation, food, and entertainment, which also contribute to the financial strain. It concludes by suggesting that while Austin remains an attractive place to live, potential residents should carefully consider the financial realities before relocating.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/personalfinance/here-s-how-far-a-middle-class-salary-goes-in-austin/ar-AA1wRj9v ]