As of July, 2019, there were just under one million residents in the city of Austin, TX, and the average household income for families living in the city was approximately $68,000. Keep in mind that some of these households would have two working parents, while others would be limited to a single working parent. At any rate, close to 74% of the entire population of the city, aged 16 and above, were gainfully employed at some job either in the city itself or in the region nearby.
Sources of Income for the City of Austin, Texas
The city of Austin, TX does not lack for steady sources of income, since it contains a large number of well-educated millenials. Many of these individuals have no doubt been attracted to the area by the high number of large corporations which have made Austin their home, and which provide excellent employment opportunities to local skilled workers. In fact, during the 1990’s, Austin was given the nickname ‘Silicon Hills’ in deference to the concentration of high-tech corporations which have setup headquarters within city limits.
Silicon Hills is not the only nickname conferred upon this bustling city, since it has recently been dubbed The Live Music Capital of the World, which is a kind of unofficial slogan adopted by the city. It is certainly no exaggeration, since there are known to be upwards of 250 venues within city limits which offer various styles of live music for the enjoyment of patrons. Some of these establishments have continuously provided live music since the 1950’s, and that period takes in quite a few different musical styles.
To further illustrate the city’s commitment to live music, there is an annual festival staged with more than 2,000 performers on something like 100 different stages in the downtown area. This festival is known as South by Southwest, and it is easily one of the largest music festivals of its kind, and certainly one of the largest in this country. Festivals like this bring in considerable income to the city, because they attract tourists from all over the world, and all these people spend money on local hotels, eateries, shopping centers, and other services offered by Austin businesses. You can read more about the total History of Austin as well.
Individuals’ Income in Austin
The city of Austin, TX typically undergoes a growth in population of between 1% and 2% annually, which is attributable to the fact that there continue to be a number of job opportunities provided by the big companies which are attracted to the thriving scene in this area. The average median household income has been growing at roughly the same rate over the past several years, with income having risen from $67,000 in 2017 to approximately $71,000 at present. You can earn a solid living by starting your own contractor business, for example, specializing in Asphalt Paving in Austin TX.
This is also a reflection of the rising salaries associated with the number of white-collar jobs available, as well as the number of good-paying jobs tied to the live music industry. Austin continues to be a city where opportunities abound, and it is still attracting more and more young professionals to the area, all of whom wish to earn a good wage and raise their families here.