This Week's Hot Headlines

Dallas star chef tapped for new Spanish restaurant and more top stories

Ulloa's is coming to West Dallas.

Photo courtesy of Ulloa's

Editor's note: The top Dallas news of the week includes details on a new Spanish concept from a big-name chef, the 10 best dressed in town, and the city's shift to a top buyer's market. Read on for our most popular stories, then plan your weekend via this expert guide.

1. West Dallas gets new Spanish-Peruvian restaurant with big-name chef. A new restaurant with a high-profile culinary director will bring Spanish and Peruvian flavors to West Dallas. Called Ulloa’s, it is coming to 727 Fort Worth Ave., with a projected opening in March 2027.

2. Dallas declared one of the top 10 buyer's markets in the U.S. right now. The tide has turned for the Dallas housing market, and buyers now have more power than ever to negotiate on their forever home. Dallas has become one of the top 10 strongest buyer's markets in the nation with sellers outnumbering buyers by 107 percent, according to Redfin.

3. Dallas' 10 Best Dressed celebrate in final downtown Neiman Marcus fete. This year's Crystal Charity Ball Ten Best Dressed Women of Dallas Fashion Show and Luncheon marked the final event at the Neiman Marcus downtown Dallas flagship before the store closes permanently on September 30.

10 Best Dressed luncheon 2026 Libby Allred, Leigh Williams at the luncheon. Photo by Ashley Gongora

4. Momo2Go restaurant from Canada debuts in-demand dumplings in Frisco. A fast-casual restaurant starring momos has debuted in Frisco.Called Momo2Go, it's part of a well-regarded chain from Canada, and it serves the dumpling that are a foundation of Himalayan cuisine.

5. Las Colinas' Ritz-Carlton gains entry into elite club with Michelin Key. An iconic luxury retreat in the Dallas area is one of seven Texas properties to earn a coveted Michelin Key this year.

who needs a raise?

Here's the income it takes to be in the top 1 percent in Texas in 2026

Hundred dollar bills, top 1 percent earners, income study

Photo by Jonathan Borba on Unsplash

The income needed to be ranked among the top 1 percent of earners in Texas has snowballed past $800,000.

In a state where local billionaires are wealthier than they've ever been, high-earning Texans need to make $73,000 more than they did a year ago if they want to be among the top 1 percent of earners, a new report has revealed.

SmartAsset's latest study analyzed income thresholds for the top 1, 5, and 10 percent of earners in all 50 states and the District of Columbia, using 2022 IRS data for individual tax return filers (the most recent year available), adjusted to 2026 dollars.

Texas has the 11th highest income threshold, with residents needing to make a minimum of $817,158 to be considered among the top 1 percent of earners statewide. In 2025, Texans needed to make about $744,000 to be among the top 1 percent.

For comparison, residents living in the nation's capital must make at least $1.16 million to qualify as top 1 percent earners. The District of Columbia led the nation with the highest income threshold to be a top earner.

To be considered among the top 5 percent of earners in Texas, a resident would need to make $312,671. The income threshold to be considered among the top 10 percent is $210,609.

SmartAsset additionally found that 128,130 Texas residents qualified as top 1 percent earners in 2022. Nationally, the report estimated that fewer than 2 million households earn enough to be considered among the top 1 percent of earners nationwide, but 23 million households rank among the top 10 percent.

"In some places, households can enter the top 1 percent at income levels that fall well below the threshold elsewhere, reflecting an uneven landscape of wages and wealth," the report said.

A separate SmartAsset study that tracked the upper and lower thresholds for middle class households found Dallas residents need to make anywhere from $49,549 to $148,646 to maintain their middle class status. But in other North Texas cities, residents can make up to $291,000 — a figure that would place them between the top 5 and 10 percent of earners — and still be labeled "middle class."

The top 10 states with the highest thresholds to be considered in the top 1 percent of earners in the U.S. are:

No. 1 – District of Columbia ($1,156,664)
No. 2 – Connecticut ($1,147,898)
No. 3 – Massachusetts ($1,006,921)
No. 4 – California ($987,325)
No. 5– New Jersey ($969,976)
No. 6 – New York ($959,562)
No. 7 – Florida ($956,449)
No. 8 – Washington ($903,303)
No. 9 – Colorado ($828,772)
No. 10 – Wyoming ($819,014)

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