income news

Texans residents earn 11th highest income in U.S. for 2026, study says

The highest-earning Texans make over half a million dollars a year.

A new WalletHub study comparing income disparities across America has ranked Texas residents No. 11 on the list of states with the highest earning residents in the nation.

The report, "States Where People Have the Highest Income (2026)," analyzed U.S. Census Bureau income data in all 50 states and the District of Columbia. The report evaluated the average annual income of the top five percent, the median annual household income, and the average annual income of the bottom 20 percent of residents in every state, all adjusted for the cost of living.

The report's data revealed the top five percent of Texans, the highest earners, make $520,378 on average yearly after adjusting for the cost of living. That's the seventh-highest income among the top five percent of earners nationwide.

Meanwhile, the median annual income of a Texas household is just under $76,000. The bottom 20 percent of Texas residents make $17,651 a year, the report found.

For additional context, the latest data from the Federal Reserve shows an American household's median yearly income is about $83,700. WalletHub analyst Chip Lupo also found that the highest earning 10 percent of individuals in the U.S. earn over 12 times more than those in the lowest-earning 10 percent, based on the latest Census data.

"By measuring the income of various percentiles against a state's median income, we can better identify where income disparities are more prevalent, which could help us better understand why residents of certain states struggle more to make ends meet," said Lupo.

Virginia is the state where residents earn the highest income in the U.S., WalletHub said. Based on the report's findings, the top five percent of Virginians make $545,097 on average per year after adjusting for the cost of living. The median annual income of a Virginia household comes out to $95,339, and the bottom 20 percent of residents make $19,671 annually on average.

Conversely, West Virginia is the state where people have the lowest income in the U.S. A West Virginia household makes a median annual income of $56,610, the third-lowest nationally, and the bottom 20 percent of residents make $13,260 on average per year, which is the fifth-lowest in the nation. The top five percent of West Virginians make $372,218 on average per year.

The top 10 states where residents have the highest income are:

No. 1 – Virginia
No. 2 – New York
No. 3 – New Jersey
No. 4 – Washington
No. 5 – Connecticut
No. 6 – Utah
No. 7 – Colorado
No. 8 – Minnesota
No. 9 – Illinois
No. 10 – Massachusetts

income wallethub reports texas

power play

Dallas Stars skate from downtown toward Plano with new arena plans

Dallas Stars Facebook

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The Dallas Stars are planning to move north, out of downtown and to the suburb of Plano in five years after the lease is up at the NHL team's current home arena.

Stars officials announced Tuesday, June 2 the signing of a nonbinding letter of intent to build a new hockey-specific arena and entertainment district about 20 miles north of the downtown American Airlines Center, which they have shared with the Dallas Mavericks since it opened in 2001.

The leases at the AAC for both teams expire in 2031. The two franchises have been in a legal dispute about their partnership agreement and management of the building.

The Stars made their intentions known a day after the Mavericks said they have a preliminary agreement on a site for their own new arena about 10 miles north of downtown, but still within the Dallas city limits. The NBA's team deal is for 104 acres on the former site of Valley View Mall, which was demolished three years ago.

A new arena for the Stars is expected to be part of a large-scale redevelopment project at The Shops at Willow Bend, where the last enclosed mall built in Texas is set for demolition.

The Stars submitted their letter of intent to the city of Plano, which placed it on the City Council agenda for consideration at its next meeting Monday. The letter includes plans for the mixed-used project as well as design and construction of the arena.

“This project would present a once-in-a-lifetime opportunity for our franchise,” Stars owner Tom Gaglardi said in a statement. “We eagerly await the vote by the Plano City Council and look forward to continuing the conversation to be part of the redevelopment of The Shops at Willow Bend.”

That mall on about 90 acres opened in 2001, and there are open restaurants and parking garages in the area. The new arena would anchor the redevelopment that could include sports, entertainment, retail, dining and public gathering spaces.

The NHL franchise was known as the North Stars before moving south from Minnesota and beginning play in Dallas for the 1993-94 season. The Stars in 1999 became the first of hockey's Sun Belt teams to win a Stanley Cup title.

The Stars won that championship while still playing at Reunion Arena, a building they also shared with the Mavericks after first moving to Dallas. The site of that downtown arena, which was fully demolished in 2009, is about a mile from the AAC.

The NFL's Cowboys were in Dallas during the franchise's first 11 seasons at the city's Cotton Bowl (1960-70), but moved to Texas Stadium in Irving in 1971, the season of their first Super Bowl title. They have played since 2009 at AT&T Stadium in Arlington.

Arlington is also home to the Texas Rangers, the franchise that began as the Washington Senators in 1961. The Rangers are in their third stadium in Arlington since moving there in 1972. Globe Life Field, their retractable-roof stadium adjacent to AT&T Stadium, opened in 2020.