Contact Us

How Large Is the Texas Income Gap? You Might Be Surprised

dollars and cents
Thinkstock

The median Texas household income is $51,926, but the richest 1 percent of Texans average almost $1.5 million annually.

While that’s a staggering income gap, it’s not necessarily uncommon when looking at what the nationwide average is.

Moneytips lays it all out in a chart showing the household median incomes compared with the top 1 percent in every state. Texas ranks toward the bottom of the second quarter of the richest states in the US.

According to this chart, one of the most interesting figures is why the top 1 percent of income earners seem to live in, of all places, Wyoming. (Think: Power…natural gas, coal, wind)? Logic might have it that the so-called “rich kids” might choose to reside in the Big Apple, exotic Hawaii or maybe in the Golden State of California. However, like Texas, both Hawaii and California are also seated in the second quarter, while New York is actually below us in the third quarter with a median income of only $47,680.

The good news is that Texas has a great cost of living, and chances are if you’re right in the Texas median income level, you are making more than our neighbors in New Mexico, Oklahoma and Louisiana, and more than folks with far higher costs of living in states like Florida, Oregon, Nevada and the above mentioned New York.

Considering a move? Try Maryland and maybe become a crab fisherman? The median income tops the list there at $71,836.

Word to the wise: Avoid at all costs a relocation that takes you out of the Lone Star State and plops you down in Mississippi, as the median income there is only $36,641.

5 Cool Texas Waterfalls You Need to Visit This Summer

The Best Staycation Cities in the US


MORE

57 Rejected Texas Vanity License Plates

 

 

 

BONUS

NEXT: Texas Man Makes Big MLB Debut

 

 

 

Best of KFYO

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://kfyo.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for KFYO Advisory Board quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive KFYO Advisory Board contests, events, coupons, presales, and much more delivered to you for FREE.