Austin Millionaires

Austin has a lot of millionaires.  Over the past ten years, the number of millionaires living in Austin has more than doubled to around 32,700.  According to the 2024 USA Wealth Report, we’ve seen the largest percentage increase of millionaires than any other city in the US.  In terms of ranking, Austin is #10 in the country.  In Texas, Houston leads with almost 91,000 and Dallas has over 68,000.  Given the growth of Austin over the past ten years, especially in tech, these numbers shouldn’t surprise anyone.  But there is something I found very interesting.  This study’s definition of millionaire is quite restricted.  Usually, it’s based on a person’s net worth.  But this study only considered cash, stock in public companies, and debt-free residential real estate.  Given that, I’m sure it greatly understates the number of millionaires in town.

Post a Comment