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This is how far a $100,000 salary stretches in Dallas in 2024

Six-figure earners do okay in Dallas.

SimplifyYourMoney.com

A new study by personal finance website GOBankingRates.com has revealed a six-figure salary goes much farther in Dallas than any other city in North Texas - but not as far as you might think.

The annual net pay after taxes for a Dallas-based six-figure earner comes out to $78,089, according to the study.

But major expenses like rent, groceries, healthcare, utilities, transportation costs, and miscellaneous expenses add up to $45,196 per year, which leaves just under $33,000 left over. Dallas' continuing inflation troubles surely aren't helping, either.

Here's how GOBankingRates breaks down Dallas' expenses:

Annual rent: $20,749
Annual groceries: $5,652
Annual healthcare: $5,739
Annual utilities: $4,549
Annual transportation costs: $7,496
Annual miscellaneous costs: $1,011

GoBakingRates ranked Dallas No. 16 on its list of the best cities for six-figure earners in the U.S., faring far better than its former No. 34-rank in a similar 2023 study by SmartAsset. That study said Dallasites' six-figure salary was reduced to $72,345 after taxes and adjusted for the cost of living.

Elsewhere in North Texas
While Dallas is the best North Texas city for six-figure earners, Arlington and Fort Worth also earned spots in the report, ranking No. 18 and No. 19, respectively.

Annual expenses in Arlington add up to $46,068, leaving six-figure earners with $32,021 left over, the study found.

This is what Arlington's average expenses look like, according to the study:

Annual rent: $20,749
Annual groceries: $5,652
Annual healthcare: $5,739
Annual utilities: $4,549
Annual transportation costs: $7,496
Annual miscellaneous costs: $1,011

The leftover income for Fort Worth residents making a $100,000 salary is $31,980 after taxes and annual expenses. The average expenses in the city add up to $46,109 per year.

Fort Worth's average expenses, calculated by GoBankingRates:

Annual rent: $21,538
Annual groceries: $5,572
Annual healthcare: $5,809
Annual utilities: $4,572
Annual transportation costs: $7,594
Annual miscellaneous costs: $1,024

Texas cities in the top 10
Three Texas cities earned spots in the top 10 where a six-figure salary goes the farthest: El Paso (No. 2), San Antonio (No. 3), and Houston (No. 7).

After taxes and annual expenses, six-figure earners in El Paso have $37,685 left over, which is nearly $4,800 more than what a Dallas resident would have with the same salary.

In San Antonio, residents making $100,000 per year average about $41,008 in annual expenses, which leaves $37,081 in their pockets after paying all the bills.

Houston residents come away with $34,983.54 left over after after all expenses, which added up to $43,105.46.

For the second year in a row, the U.S. city where a $100,000 salary goes the furthest is Memphis, Tennessee. Memphis residents have nearly $40,000 left over after taxes and annual expenses on a $100,000 salary, the study says. Like Texas, Tennessee also doesn't impose an income tax on its residents.

The top 10 U.S. cities where a $100,000 salary goes the farthest are:

No. 1 – Memphis, Tennessee
No. 2 – El Paso, Texas
No. 3 – San Antonio, Texas
No. 4 – Tulsa, Oklahoma
No. 5 – Oklahoma City, Oklahoma
No. 6 – Wichita, Kansas
No. 7 – Houston
No. 8 – Tucson, Arizona
No. 9 – Jacksonville, Florida
No. 10 – Indianapolis, Indiana

The most expensive U.S. cities
In the study's analysis of the top 10 most expensive cities for six-figure earners, New York City took the crown as the city where residents are left "in the red" by the end of the year. Following close behind is San Francisco, California (No. 2); San Jose, California (No. 3); San Diego, California (No. 4); Boston, Massachusetts (No. 5); Oakland, California (No. 6); Los Angeles, California (No. 7); Washington, D.C. (No. 8); Miami, Florida (No. 9); and Long Beach, California (No. 10).

The report analyzed the average expense costs in 50 of the most populous American cities, and subtracted those costs from each city's annual net annual pay after taxes on a $100,000 salary. Rankings were determined based on the amount of annual income leftover. Data was pulled from the U.S. Census American Community Survey, the Bureau of Labor Statistics Consumer Expenditure Survey, the Zillow Observed Rental Index, and more.

The report and its methodology can be found on gobankingrates.com.

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population explosion

7 booming Dallas neighbors see biggest population growth in U.S.

City of Denton, TX - City Hall/Facebook

Denton had the biggest population growth rate in Dallas-Fort Worth from 2022 to 2023.

Denton, Mansfield, McKinney, and more North Texas cities are among the fastest-growing places in the country, according to a new population growth study by SmartAsset.

The report, "These Cities Saw the Largest Growth in Population – 2024 Study," examined U.S. Census population estimates for 2023, 2022, and 2018 to determine one-year and five-year population changes for 610 U.S. cities with populations of at least 65,000 residents in 2023 (where the most recent data was available).

Silver Spring, Maryland had the No. 1 biggest population boom nationwide from 2022 to 2023, SmartAsset found. The Washington, D.C. suburb grew 12.86 percent year-over-year, bringing the city's total population from 75,313 to 84,996 residents in 2023.

Denton took the lead over all other Dallas-Fort Worth cities with the 16th-largest one-year population growth rate in the U.S., at 5.32 percent. Denton gained over 8,000 residents from 2022 to 2023, bringing the city's total population to 158,361 in 2023.

This should come as no surprise to those who already live in Denton, who may know their hometown was ranked one of the safest suburbs in America.

Mansfield trailed close behind with a 4.16 percent increase in population during that same period, which landed it the No. 26 spot in the one-year population change analysis. The city gained 3,189 new residents in that time, adding up to a total population of 79,775 residents in 2023.

McKinney appeared farther down the list as No. 49 with just a 2.89 percent one-year growth rate from 2022 to 2023, and a total population of 213,504 residents.

Only four other Dallas-Fort Worth cities appeared in the top 100 fastest growing cities in the U.S. from 2022 to 2023:

No. 61 – Frisco (2.48 percent increase)
No. 72 – Rowlett (2.48 percent)
No. 73 – Lewisville (2.17 percent)
No. 99 – Flower Mound (1.73 percent)

The report suggested major population shifts in communities like Denton or Mansfield can result in "a variety of interwoven economic and social impacts."

"The magnitude of the population change can affect demand for businesses and services, which in turn may impact costs – or even the availability of such amenities," the report's author wrote. "Similarly, the relative age of the population can determine the strength or weakness of the local job market, as well as have an impact on local culture, economic trajectory, tax base and more."

Fast-growing cities elsewhere in Texas
Texas cities dominated the top 10 list of cities where population grew the most from 2022 to 2023.

New Braunfels, a San Antonio suburb, ranked No. 2 nationally with an 12.49 percent one-year population boom, and a 29.68 percent growth rate from 2018 to 2023. The city gained 12,318 new residents in that time, adding up to a total population of 110,961 residents in 2023.

Just two spots behind New Braunfels is the North Austin suburb of Georgetown (No. 4), which grew 11.34 percent to 96,317 residents in 2023. According to the report's five-year population change analysis, Georgetown ranked seventh with a 29.85 percent growth rate.

The Houston suburbs of Atascocita and Conroe ranked No. 5 and No. 9, respectively. Atascocita's total population grew to 119,502 residents in 2023, which represented a 11.03 percent growth rate from 2022, and a whopping 38.56 percent population increase since 2018. Conroe's 6.73 percent one-year population increase paled in comparison, but the city grew 23.49 percent during the five-year period from 2018 to 2023.

The top 10 U.S. cities where population grew the most from 2022 to 2023 are:

No. 1 – Silver Spring, Maryland
No. 2 – New Braunfels, Texas
No. 3 – Glen Burnie, Maryland
No. 4 – Georgetown, Texas
No. 5 – Atascocita, Texas
No. 6 – Pine Hills, Florida
No. 7 – Elgin, Illinois
No. 8 – Lehi, Utah
No. 9 – Conroe, Texas
No. 10 – Dale City, Virginia

population growth reports smartasset dallas fort worth denton suburbs mansfield