Friday, September 16, 2016

Austin Incomes Up and Poverty Down


The US Census data shows that incomes are up and poverty is down in Austin and across Central Texas, the Austin American Statesman reports.

Austin’s median family income in 2015 was $76,600, up from $63,600 in 2011.  Austin and Travis County’s median family incomes have increased much faster than those for Texas or the US as a whole.  Across the nation, the median family income was $56,516 in 2015.

The percentage of Austinites living in poverty also decreased, from 20.3 percent in 2011 to 14.5 percent in 2015.  Across the nation as a whole, 14.7 percent of Americans are living in poverty, down from 15.9 in 2015.  

In the towns around Austin, Bastrop saw the highest increase in median household income from 2014 to 2015.  It increased over 12 percent to $75,000.  Williamson county’s income increased to $89,000, a jump of 4 percent.  

While all this increased wealth may seem on the surface to be a success story, and anecdotal stories tell the tale of Austin residents who have been able to make a much better living than they were in the recession of several years ago, Austin city demographer Ryan Robinson cautions that all may not be as it seems.  He theorizes that the rising cost of living in Austin is likely pushing poor and struggling residents out to the suburbs. Non-profits that help the most vulnerable residents in Austin echo his concerns.

There is no way to know for sure from the data whether lower income Austinites are seeing their incomes increase or being pushed out of the city limits by rising rents and home prices.

Whether you find yourself enjoying the rising income rates in Austin, or are looking for affordable apartments,  the expert apartment locators at Austin Apartment Specialists can help.  Give us a call today at 512-241-1111!