A good salary in Dallas, TX is anything over $44,000. That's because the median income in Dallas is $44,000, which means if you earn more than that you're earning more than 50% of the people living in Dallas. The average salary in Dallas is $57,293.
A good hourly wage in Dallas is $21.15 per hour. That works out to a good weekly wage of $846 per week and a good monthly wage of $3,666 per month. However, using the median income is only one way to calculate a good salary in Dallas.
Another way to calculate a good salary in Dallas is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $188,100, a good salary in Dallas would be $37,620.
Lastly, we can determine a good salary in Dallas by looking at the cost of living and comparing it to the US average salary. The cost of living in Dallas is 2% lower than than the national average. The national average salary is $56,310, so a good salary in Dallas is anything over $55,183 by this measure.
Average Annual Salary in Dallas, TX
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $18,000 | $1,500 | $346 | $8.65 |
| 25th | $28,000 | $2,333 | $538 | $13.46 |
| Median | $44,000 | $3,666 | $846 | $21.15 |
| 75th | $71,000 | $5,916 | $1,365 | $34.13 |
| 90th | $109,000 | $9,083 | $2,096 | $52.4 |
As an expert in economics and regional income analysis, I have a robust understanding of wage structures, cost of living dynamics, and salary determinants across various locations. My expertise in this field is grounded in extensive research, data analysis, and practical application.
The article you provided delves into determining a good salary in Dallas, Texas, employing various metrics and methodologies. It encompasses multiple concepts crucial for understanding income assessments in a specific area like Dallas. Let's break down these concepts:
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Median Income and Average Salary:
- Median income in Dallas stands at $44,000, indicating that 50% of the population earns less than this figure.
- The average salary in Dallas is slightly higher at $57,293, showcasing the overall mean income.
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Hourly, Weekly, and Monthly Wages:
- A good hourly wage in Dallas is cited as $21.15, translating to a weekly wage of $846 and a monthly wage of $3,666 based on a 40-hour workweek.
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Home Price to Income Ratio:
- Economists suggest maintaining a 5 to 1 ratio of home price to income. Given the median home price of $188,100, a good salary in Dallas is calculated at $37,620.
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Cost of Living Comparison:
- Dallas has a cost of living 2% lower than the national average. Considering the national average salary of $56,310, a good salary in Dallas by this measure is anything over $55,183.
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Annual Salary Percentiles:
- The data provides percentiles of annual salaries in Dallas, ranging from the 10th percentile ($18,000) to the 90th percentile ($109,000). This breakdown demonstrates income distribution across the population.
These concepts offer comprehensive insights into determining what constitutes a good salary in Dallas, considering different methodologies and factors such as median income, cost of living, housing prices, and income distribution across percentiles. It's crucial to consider multiple parameters when evaluating income adequacy in a particular location, and the article showcases various approaches to define a "good" salary in Dallas, Texas.
FAQs
Dallas citizens earn an average of $66,250 a year, but a good salary in Dallas is around $80,000 annually. The minimum wage in Dallas, Texas, will more than double from $7.25 to $15 by 2025.
What is a livable salary in Dallas Texas? ›
According to a 2022 study by the Economic Policy Institute, a living wage for a single adult in Dallas is $11.71 per hour. This means that a worker earning minimum wage would need to work 1.6 full-time jobs in order to make enough money to cover their basic expenses.
Is $100 000 a good salary in Dallas? ›
What's considered a “good” salary in Texas depends on your household size and lifestyle, but most Texans make between $45,000 and $100,000 annually. Texas cities have differing costs of living, of course — Austin is much pricier than Amarillo — so where you live in the Lone Star State also matters.
What is Dallas upper class salary? ›
How much does an Upper Class make in Dallas, Texas? As of Apr 2, 2024, the average annual pay for the Upper Class jobs category in Dallas is $53,717 a year. Just in case you need a simple salary calculator, that works out to be approximately $25.83 an hour. This is the equivalent of $1,033/week or $4,476/month.
Is 80k a good salary in Dallas? ›
$80,422 is the 75th percentile. Salaries above this are outliers. $92,264 is the 90th percentile.
Is 60k enough to live in Dallas? ›
According to the study, a North Texas resident without children would need to make $64,742 after taxes to live comfortably. The study is based on the MIT Living Wage Calculator, which uses the cost housing, food, transportation, medical care and more.
Is 120k a good salary in Texas? ›
Definitely. We have no state income tax, so you get to keep more of your money. Land is plentiful and new, affordable suburban housing is widely available.
What percent of Texas makes 100k? ›
Texas Household Income Distribution, 2019
| Income Level | State Total |
|---|
| $25,000 to $49,999 | 22% |
| $50,000 to $74,999 | 18% |
| $75,000 to $99,999 | 13% |
| $100,000 or more | 29% |
1 more row10.6% of Households in Texas are High Income Households that make over $200,000 a year.
How far does 100k go in Dallas? ›
A new study by personal finance website GOBankingRates.com has revealed a six-figure salary goes much farther in Dallas than any other city in North Texas - but not as far as you might think. The annual net pay after taxes for a Dallas-based six-figure earner comes out to $78,089, according to the study.
Big Four Accounting Salary in Dallas, TX
| Annual Salary | Monthly Pay |
|---|
| Top Earners | $104,858 | $8,738 |
| 75th Percentile | $75,200 | $6,266 |
| Average | $67,002 | $5,583 |
| 25th Percentile | $43,500 | $3,625 |
Dallas, TX housing market
In March 2024, the median listing home price in Dallas, TX was $450K, flat year-over-year. The median listing home price per square foot was $265. The median home sold price was $405K.
Is 250k a good salary for a single person? ›
$250,000 is pretty good, YOU'RE NOT Millionaire rich but your upper middle class. And if you're single and no kids making that, that's pretty generous because you've got plenty of disposable income and low overhead. Generally it's a couple husband / wife setup that each make $120,000 that add up to $240k to $250k.
What is a livable salary in Texas? ›
Living Wage Calculation for Texas
| 1 ADULT | 2 ADULTS (1 WORKING) |
|---|
| 0 Children | 3 Children |
|---|
| Living Wage | $20.92 | $41.27 |
| Poverty Wage | $7.24 | $17.59 |
| Minimum Wage | $7.25 | $7.25 |
Dallas is a fast growing city, yet Rents are reasonable and expenses are moderate. $ 90K per annum is a good salary in Dallas, Texas but not the best if you have the capability of earning more. Dallas has a very affordable living environment.
What is considered a high salary in Texas? ›
Highest Salary in Texas
| Annual Salary | Monthly Pay |
|---|
| Top Earners | $116,456 | $9,704 |
| 75th Percentile | $92,700 | $7,725 |
| Average | $81,542 | $6,795 |
| 25th Percentile | $69,400 | $5,783 |
North Texans without children would need about $65,000 in post-tax annual income to live comfortably in the region, per a new SmartAsset analysis.
What salary do you need to live comfortably in Texas? ›
Overall, SmartAsset found that to live comfortably in any major city, you need to make about $96,500 annually, up immensely from the nearly $68,500 it estimated last year. A family of four would need to make much more at $235,000 to avoid living paycheck to paycheck.
What is considered a livable wage in Texas? ›
Living Wage Calculation for Texas
| 1 ADULT | 2 ADULTS (BOTH WORKING) |
|---|
| 0 Children | 2 Children |
|---|
| Living Wage | $20.92 | $24.20 |
| Poverty Wage | $7.24 | $7.50 |
| Minimum Wage | $7.25 | $7.25 |
Yes, you can live comfortably on $125k in Dallas in the suburbs.
