How many people make over 100k in Texas?

Texas is known for its thriving economy, low cost of living, and ample job opportunities across industries. With major cities like Houston, Dallas, Austin and San Antonio driving much of the state's economic growth, you may be wondering - just how many Texans are earning six-figure salaries of $100,000 or more? Let's take a closer look at the data on high-income earners in Texas.

Percentage of Texans Earning $100K+

According to the most recent data from the U.S. Census Bureau, approximately 12.9% of households in Texas earn $100,000 or more annually.

This is slightly lower than the national average of 15.5% of households earning six-figures. However, the percentage of high-income households varies significantly between different metro areas in Texas:

Austin-Round Rock: 20.8%

Dallas-Fort Worth-Arlington: 18.1%

Houston-The Woodlands-Sugar Land: 16.7%

San Antonio-New Braunfels: 12.6%

So while Texas overall may have a lower proportion of $100K+ earners compared to the U.S. average, cities like Austin and Dallas have significantly higher concentrations of high-income households. This makes sense given the booming tech and business sectors in those metros.

Highest Paying Jobs in Texas

What kinds of jobs are most likely to pay $100,000 or more in Texas? According to data from the Bureau of Labor Statistics, the highest paying occupations in Texas as of May 2021 included:

Surgeons: $294,700

Anesthesiologists: $261,500

Obstetricians and Gynecologists: $255,590

Orthodontists: $237,990

Physicians (All Other): $218,850

Family Medicine Physicians: $217,590

Psychiatrists: $216,090

General Internal Medicine Physicians: $210,960

Chief Executives: $209,690

Nurse Anesthetists: $202,470

As you can see, medical professions dominate the highest-paying jobs, especially specialties like surgery and anesthesiology. Chief executives of companies also make the top 10.

Other six-figure jobs common in Texas include petroleum engineers, financial managers, marketing managers, lawyers, sales managers, cleaning services Austin and airline pilots.

 The state's major industries like energy, healthcare, technology, and aerospace help drive salaries in these occupations.

Of course, keep in mind that salaries can vary significantly based on factors like location, years of experience, and the specific employer. For example, a marketing manager in Houston may earn a different salary than one in Austin.

Cost of Living and Buying Power

While earning a six-figure salary is a major accomplishment, it's important to consider the cost of living in your area to determine how far that income can actually stretch.

Fortunately, Texas is known for its relatively affordable cost of living compared to many other states.

 For example, the median home price in Texas is $243,600, compared to $374,900 nationally.

However, some of the major metros with the highest percentage of six-figure earners like Austin and Dallas also have higher costs of living that are more in line with the national average.

So while $100,000 can go quite far in most parts of Texas, it may not have the same buying power in the most expensive cities. Still, Texas has lower taxes and housing costs than states like California and New York with comparable salaries.

Increasing Your Earning Potential

If you're striving to join the ranks of six-figure earners in Texas, there are a few strategies that can help boost your salary:

Pursue higher education, especially in high-paying fields like medicine, law, engineering, technology, and business.

Having an advanced degree can significantly increase lifetime earnings.

Gain work experience to qualify for more senior-level roles with higher salaries. Look for opportunities to take on additional responsibilities and showcase your leadership skills.

Negotiate your salary and benefits package when starting a new job or during performance reviews. Don't be afraid to advocate for your value as an employee.

Consider starting a side hustle or business to diversify your income streams. For example, an Austin cleaning service business could provide a lucrative additional revenue source.

Live in a more affordable area, if possible, to stretch your paycheck further. Look for cities with a lower cost of living that still have ample job opportunities in your field.

The Bottom Line

While only about 12.9% of Texas households currently earn $100,000 or more, the state's thriving economy and job market make it an attractive place to grow your income.

By choosing a high-paying career path, gaining valuable experience, and making smart financial choices, you can work your way towards a six-figure salary in the Lone Star State.

Of course, money isn't everything - it's also important to pursue work that is fulfilling and meaningful to you. But there's no denying that earning a higher income can provide greater financial security and freedom.

Whether you're just starting your career or looking to level up your earnings, Texas offers ample opportunities to achieve your income goals. So if you're aiming for that $100K+ milestone, keep pushing forward - with hard work and smart strategies, you can get there.