Austinites who want to catch a glimpse into the lives of the one percent may be surprised to learn that the pre-tax income required to be considered one of the highest earners in Texas amounts to $762,090 in 2024. So says a new study from SmartAsset that analyzed the top one percent income floors for all 50 states.
Compared to SmartAsset’s 2023 report, Texans now need to make $130,241 more in 2024 to maintain their status as one of the highest earners in the state. Last year, the income threshold was $631,849. For the second consecutive year, the Lone Star State maintains the 14th highest pre-tax salary needed to be considered in the top one percent of earners in the U.S.
To determine the income needed to be in the top one percent of earners in each state, SmartAsset analyzed 2021 IRS data for individual tax filers, which is the most recent year where data was available. Income data was then adjusted to June 2024 dollars.
Texas’ one percent income threshold is not too far off from the national average, which is $787,712.
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The study further revealed 126,128 Texans are within the top one percent of earners. For more context, the U.S. Census Bureau says over 30 million people lived in Texas as of 2022, and Austin’s population grew to nearly 980,000 residents in 2023.
Connecticut continues to lead the nation with the highest income threshold required to be in the top one percent, with residents needing to make over $1.15 million pre-tax.
If Austinites aim to be within the top five percent of earners in Texas, the pre-tax income threshold is substantially lower, at $280,676. For many Austin residents, however, even achieving a “middle class” status means making between $59,604 and $178,830 a year, according to a separate SmartAsset report.
Meanwhile, the study says the median income in the U.S. comes out to roughly $75,000, and half of Americans are making even less than that. The income disparity is plainly obvious when high-income earners make (at a minimum) 10 times more than the national median income.
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The report goes on to say top-earning Americans make up a “disproportionately large part of the tax base,” as their income results in paying a 37 percent federal tax bracket rate. (That is, if these high earners are even paying taxes in the first place, considering America’s wealthiest are already evading over $150 billion a year in taxes.)
“While state and local level taxes may impact the spread of high earners in those areas, the cost of living can also be drastically different nationwide,” the report said. “As a result, what it takes to be considered a top one percent income earner can differ by over $500,000 from state to state.”
The top 10 states with the highest thresholds to be considered in the top one percent of earners in the U.S. are:
Accident or crime scene cordon tape, police line do not cross. via Getty Images
WILLIAMSON COUNTY, Texas – A juvenile has been arrested Saturday after an early morning double-homicide near Round Rock.
The situation ended after officials successfully negotiated a barricade situation with the minor, they say.
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Williamson County double-homicide
What we know:
Williamson County authorities got the shooting call around 2 a.m. from the 8900 block of Brushy Gate Cove, outside the Round Rock city limits.
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Williamson County sheriff’s deputies found two men dead of gunshot wounds at the scene. The suspect was barricaded inside a bedroom in the home.
Williamson County SWAT and crisis negotiators responded, and the suspect peacefully surrendered around 6:30 a.m.
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Officials say there is no ongoing threat to the public.
Williamson County officials comment
What they’re saying:
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“On our arrival, we found two deceased people from the residence, adult males,” said Commander John Foster of the Williamson County Sheriff’s Office.
“Anytime you have a barricaded subject inside of a home where we believe two people are deceased, you know, we’re going to take all precautionary measures that we can to ensure our safety and the safety of the neighbors as well,” said Foster.
Investigators say everyone involved resided in the house and that this was an isolated incident.
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“Information is going to be very limited, because this is a juvenile investigation, and certain laws protect certain information regarding juveniles,” said Foster.
What we don’t know:
The identity of the minor suspect has not been released.
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The victims were not identified.
The motive behind the shooting has not been commented on.
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The Source: Information in this article came from the Williamson County Sheriff’s Office.
Samsung is taking steps to provide Apple with image sensors built with advanced technology for iPhones. Reportedly, the sensors for the iPhone will be manufactured in Samsung’s current Austin, Texas facility, and the company is anticipated to soon have production equipment installed for the upcoming project.
The image sensor of the iPhone is expected to have a three-stack design for better low-light performance and a higher density of pixels with multiple layers stacked vertically. This results in less power consumption, a dynamic range that’s higher, and faster speeds for readouts.
It’s believed that the new sensor will be made for the upcoming iPhone 18 in 2027. Apple and Samsung have reportedly arrived at a deal where Samsung will be supplying the component for the sensor. This marks the first occasion Apple will be going with another company apart from Sony as their main supplier for image sensors for its iPhones.
Texas football has lost its fair share of players to the NFL draft and transfer portal over the past few weeks, dwindling the roster. Despite the loss of a few big names such as linebacker Anthony Hill Jr., safety Michael Taaffe and others, the Longhorns have held onto star quarterback Arch Manning.
While it was unlikely that Manning would enter the portal, there was some hype surrounding the possibility of the first-year starter entering the NFL Draft. Why did the young star decide to forego the pros? According to Manning, his journey at Texas isn’t quite finished.
Manning Wants to Continue His Development With Texas
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Nov 28, 2025; Austin, Texas, USA; Texas Longhorns quarterback Arch Manning keeps the ball and runs for a touchdown during the second half against the Texas A&M Aggies at Darrell K Royal-Texas Memorial Stadium. Mandatory Credit: Scott Wachter-Imagn Images | Scott Wachter-Imagn Images
“I felt like I developed a lot this year, especially towards the back half, and I want to keep it going,” Manning said, according to Inside Texas’s Evan Vieth. “There’s no reason to leave. I feel like I got a lot more football left to play, and excited to still be a part of this team.”
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Manning didn’t quite have the season that most fans and analysts envisioned for him, struggling at the start of the year. Despite these struggles, Manning went on to improve throughout the regular season, demonstrating why he is one of the nation’s top quarterback talents.
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At the start of the season, Manning’s accuracy and timing were a bit off. The offense as a whole seemed out of sync, and Texas was not looking like the powerhouse that was promised heading into the season.
Eventually, though, Manning found his stride, and more than just improving his stats, the Longhorn quarterback looked more comfortable. Eventually, the stat sheet reflected his improvements, posting 1,625 passing yards over the last six games of the season, alongside 16 total touchdowns.
Now, returning to Texas for what will likely be his last year in college before departing for the NFL, next season should be an exciting one for the Longhorns. Not only is Manning more experienced as the team’s top quarterback, but the wide receiving core will have developed as well.
Texas wide receivers had their struggles with drops this season, but showed improvements at some points throughout the year.
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Though it may be difficult to abstain from declaring for the draft, ultimately Manning made perhaps the best decision for his career and development. With another year to grow, by the time he enters the NFL, Manning will be much more experienced and likely better prepared.
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Manning will have one more chance to take the field this season in the upcoming Citrus Bowl, where Texas will take on the Michigan Wolverines on December 31.
