income news

Here is how Texans' income compares to the rest of the U.S. in 2025

SimplifyYourMoney.com

Hardworking Texans are making less money per year than the national median, a new WalletHub study has revealed.

The just-released report, "States Where People Have the Highest Income," found Texas workers are making a median annual income of $73,718, compared to the national median of $81,000 per year.

The study examined the average annual income of the top five percent, the average income of the bottom 20 percent, and the median income for all residents in all 50 states and the District of Columbia. Income was adjusted for the cost of living.

Texas ranked 11th in the study's rankings of states where residents have the highest incomes, moving up one spot from its 2024 ranking. Virginia claimed the No. 1 spot, followed by New Jersey (No. 2) and New York (No. 3).

Based on WalletHub's findings, the top five percent of Texans are making more than $504,000 per year. Meanwhile, the bottom 20 percent of Texas residents are making only $17,461 annually.

In a major city like Dallas, income disparities may appear to be even wider than other Texas cities. Earning a "comfortable" wage in Dallas now costs $4,000 more than it did last year, and being a middle-class earner means making a minimum of $46,743 a year and as much as $140,242. Making a six-figure salar y doesn't even go as far as it used to.

Yet Dallas still ranks among the top 10 wealthiest cities in America with 16 billionaires and 135 multi-millionaires calling the city home. Even Dallas' suburbs are attracting more high-income households than many other U.S. cities.

"The highest-earning 10 percent of individuals in the United States earn over 12 times more than those in the lowest-earning 10 percent, based on the latest Census data," said WalletHub analyst Chip Lupo. "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."

The top 10 states with residents earning the highest income are:

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

texas wallethub reports income dallas

This Week's Hot Headlines

Cult-favorite sandwich chain comes to Dallas and more popular stories

Snarf's

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Editor's note: The top Dallas news of the week includes a Colorado sandwich shop's Dallas debut and an exclusive restaurant's new casual offering. Get the details on our most popular stories below, then visit our event planner for weekend fun.

1. Colorado sandwich chain Snarf's makes Dallas debut with 5 locations. A cult-favorite sandwich from Colorado has made its Dallas debut. Snarf’s Sandwiches has opened its first location in Dallas at 2337 W. Mockingbird Ln. #150, in a small center just west of Maple Ave.

2. Prominent Dallas businessman and sports mogul Tom Hicks dies at 79. Thomas O. Hicks, legendary Texas businessman, philanthropist, mentor, and devoted husband and father, died in Dallas on December 6, surrounded by his family; he was 79.

3. New restaurant The Gibson fills needs of its North Dallas neighborhood. A swanky new restaurant has debuted in North Dallas after overcoming some major obstacles. Called The Gibson, it opened in November at 17552 North Dallas Pkwy., after three years in the making.

The Gibson is now open. Photo courtesy of The Gibson

4. Downtown Dallas restaurant Sauvage expands with new dining twist. A downtown Dallas restaurant famous for its multi-course tasting experience is letting its hair down with a new dining option that gives a smaller, more casual taste.

5. Dallas Crystal Charity Ball 2025 takes elegant expedition to South of France. Attendees of the 2025 Crystal Charity Ball were promised an Expedition d’ Elegance, and indeed, Dallas’ grand dame gala delivered a night of globe-trotting glamour.