The Austin Business Journal reports on a new study that finds that when rent is factored in, wages are down in Austin.
From 2005 to 2015, post-rent wages were down .5 percent in Austin. Just over half of Austinites rent and median rent is $1,045. Median income for households is $57,690 in the Austin city limits.
Austin’s economy has been growing over the last decade and the expanding tech industry is partly responsible. Rent has also grown over 25 percent over that same time period. The difference was most pronounced in the post-rent wages of blue-collar and service workers who saw an almost 10 percent drop in their wages. In the tech industry, workers saw their income expand by two percent.
Despite the drop in post-rent wages, Austin has seen robust employment numbers. Blue-collar employment was up by 15.3 percent, employment in the service-sector went up 39 percent, and employment in the knowledge industry (which includes tech), was up by 46.6 percent. In total, Austin’s employment went up 35.4 percent.