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How much money do you need to make to be in the top 5% in Texas?

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How much money do you need to make to be in the top 5% in Texas?


(NEXSTAR) – The disparity between the income that an average U.S. resident brings in yearly compared to those sitting at the top of earners in each state has always been a major topic of discussion.

In fact, WalletHub states that “the highest-earning 10% of individuals in the United States earn over 12 times more than those in the lowest-earning 10%, based on the latest Census data.”

And while looking up what the “average salary” is across the country, ($74,600, according to the latest data from the Federal Reserve), appears to give a solid idea of how far off most Americans are from the 5% club, a closer look at the high-end salaries reveals that the disparity is even more stark.

WalletHub broke down the income of all 50 U.S. states and Washington D.C into three different groups: the average annual income of the top 5%, the average for the bottom 20%, and the median for all of each state’s residents.

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Landing at No. 1 was New York where the top 5% makes about $553,000 a year. That’s almost $35,000 more than the next two highest states and nearly $100,000 more than the 10th-ranked state.

While the top 5% is thriving in the Empire State, its bottom 20% is falling well short, ranking 44th in salary with $13,301.

Right behind New York is Connecticut and Virginia where the average is about $518,000 apiece. Followed by New Jersey and Illinois which are both hovering around $505,000.

The state with the lowest top 5% threshold is Alaska, where earning roughly $321,000 will get you into the club. Hawaii and Vermont aren’t far behind where the top 5% makes about $334,000.

Check out what you need to make in your state:

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Rank State Average Annual Income of Top 5% Median Annual Income Average Annual Income of Bottom 20%
1 New York $553,436 $91,366 $13,301
2 Connecticut $518,757 $114,156 $14,576
3 Virginia $518,296 $89,393 $18,694
4 New Jersey $505,621 $117,847 $16,445
5 Illinois $504,800 $78,304 $16,192
6 Georgia $487,870 $66,612 $16,472
7 Texas $481,483 $70,513 $16,802
8 Washington $474,067 $103,748 $18,223
9 Florida $470,308 $68,818 $15,375
10 Massachusetts $466,208 $127,760 $13,689
11 Minnesota $464,981 $86,364 $19,797
12 Colorado $456,603 $97,301 $18,451
13 California $454,829 $123,988 $13,949
14 Tennessee $453,539 $59,077 $15,679
15 District of Columbia $450,892 $162,265 $9,011
16 North Carolina $450,592 $63,025 $15,836
17 Utah $448,195 $89,786 $22,491
18 Michigan $446,114 $62,446 $17,019
19 Missouri $446,069 $59,715 $16,821
20 Pennsylvania $445,261 $74,711 $15,801
21 Ohio $436,922 $61,904 $16,188
22 Maryland $427,135 $124,693 $16,647
23 Arizona $424,913 $74,375 $16,604
24 Kansas $423,517 $68,489 $17,176
25 Nebraska $416,325 $72,384 $17,380
26 Arkansas $416,224 $51,032 $14,069
27 South Carolina $412,771 $62,909 $13,996
28 Kentucky $411,897 $55,629 $13,800
29 Oklahoma $405,113 $57,215 $15,205
30 Idaho $403,737 $70,041 $18,372
31 Delaware $402,989 $87,173 $16,930
32 Wisconsin $402,256 $72,602 $17,973
33 Nevada $401,062 $80,366 $14,472
34 New Hampshire $400,343 $110,205 $18,075
35 Indiana $399,270 $64,170 $16,670
36 Alabama $398,584 $55,480 $13,242
37 Montana $395,720 $68,937 $15,337
38 Louisiana $395,155 $56,282 $11,504
39 Iowa $395,093 $68,974 $17,621
40 South Dakota $393,809 $69,266 $17,252
41 North Dakota $387,548 $79,874 $15,661
42 Wyoming $387,280 $76,307 $16,199
43 Oregon $377,399 $91,100 $14,720
44 Mississippi $377,040 $46,880 $12,168
45 Rhode Island $353,721 $104,252 $12,668
46 New Mexico $351,972 $58,911 $11,944
47 West Virginia $345,239 $52,719 $12,477
48 Maine $338,866 $79,800 $13,749
49 Vermont $334,470 $89,695 $14,477
50 Hawaii $334,369 $141,832 $14,014
51 Alaska $321,634 $113,934 $15,646
(Credit: WalletHub)

As for what state’s residents make the most money on average, Washington D.C. finished with the highest median income of $162,265. Unfortunately, D.C. also finished with the lowest salary for the average annual income of the bottom 20%, with $9,011.

Other states that had a high median income were Hawaii ($141,832), Massachusetts ($127,760), Maryland ($124,693), and California ($123,988).

These states with a smaller gap between the average earner and the top 5% make it easier to make the jump, but it’s still difficult.

According to GoBankingRates, it will take a variety of factors to make that jump. First, you need a steady increase in income. This could mean you are making better financial decisions, investing wisely, or perhaps experiencing career advancements.

Another factor is maybe having a solid investment strategy, look to see that you are getting positive returns on your investment and that you have a well-diversified portfolio.

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Finally, prioritize your long-term financial stability. Look to prioritize saving over short-term pleasures.

And if you’re looking to go even higher than the top 5%, Forbes found that to be one of the top 1% of earners in the U.S., you need to bring in an annual salary of at least $597,815, so start saving up!



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Co‑worker confesses to killing missing North Texas man and stealing his car, police say

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Co‑worker confesses to killing missing North Texas man and stealing his car, police say



A North Texas man reported missing earlier this week was found dead Friday, and police say a co‑worker has confessed to fatally shooting him and stealing his car.

The suspect, Gregory D. Lewis, 34, remains in custody and faces a forthcoming capital murder charge, according to the Fort Worth Police Department. 

Lewis is accused of killing 31‑year‑old Thomas King, who had been last seen in his Taco Casa work uniform. King was reported missing on Tuesday after failing to return home Monday from the fast‑food restaurant in the 1100 block of Bridgewood Drive.

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Car found at Arlington motel 

Police said King’s car was found at the Quality Inn on I‑20 in Arlington, and surveillance video showed Lewis arriving in King’s vehicle shortly after King left work. 

Detectives identified the man in the video and arrested him on unrelated charges.

  Gregory D. Lewis, 34

Tarrant County Jail

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Body discovered on Fort Worth’s East Side 

King’s body was located on Friday in an open field on Fort Worth’s East Side, authorities said. 

According to police, Lewis confessed to shooting the victim and stealing his car. 

Medical examiner review pending 

The Tarrant County Medical Examiner will determine the cause of death. 

CBS News Texas has reached out to Taco Casa for comment.

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Exclusive | Mexican mayor urged relatives in US to vote for Texas Dem for Congress who would ‘take care’ of their city

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Exclusive | Mexican mayor urged relatives in US to vote for Texas Dem for Congress who would ‘take care’ of their city


WASHINGTON — A Mexican mayor earlier this month urged her constituents to get their relatives in Texas to vote for House Democratic candidate Bobby Pulido because he would “take care” of their city if elected to Congress.

“We need to get out the vote for him,” said Patricia Frinee Cantú Garza, mayor of General Bravo in Nuevo León, less than two hours from the US border, in a recent Spanish-speaking Facebook reel,which The Post reviewed and translated.

“Talk to your families in the United States. Make sure they go vote,” Garza added, noting that she would be presenting the keys to the city to Pulido, a two-time Latin Grammy winner, on April 3.

A Mexican mayor earlier this month urged residents of her municipality to get their relatives in Texas to vote for House Democratic candidate Bobby Pulido because he would “take care” of their city if elected to Congress. Politigranja/ Facebook

“When he becomes a congressman,” she also said, “we want him to take care of Bravo.”

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The city ceremony celebrating Pulido in General Bravo never received enough funding and was cancelled, the Mexican outlet El Norte reported.

Pulido has headlined concerts in General Bravo as recently as November 2023. Local officials promoted the show and the current mayor and her husband, then-mayor Edgar Cantu Fernandez, appeared.

“Bobby doesn’t know the mayor and has never met her,” a Pulido campaign spokesperson said in a statement. “He declined the invitation, didn’t attend the event, and isn’t responsible for unsolicited comments made by other people.”

Bradley Smith, a former chairman of the Federal Election Commission, said the statements wouldn’t pose legal or ethical issues for Pulido — but that the remarks may have a political cost, given the focus on foreign involvement in US elections in recent years.

“Bobby doesn’t know the mayor and has never met her,” a Pulido campaign spokesperson said in a statement. Bobby Pulido for Texas

“If you were making financial contributions, that would be a different thing, but just to exhort people to vote,” Smith said, “I don’t think that’s going to be a problem for them.”

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Jessica Furst Johnson, a partner at the Republican-aligned campaign finance and election law firm Lex Politica, noted that event appeared to function as an in-kind contribution to Pulido’s campaign but it would be difficult to determine without “more details.”

Congressional Republicans have thus far failed to pass a bill this session aimed at beefing up identification requirements for voters when registering, though many have said laws as currently written are too lax and could lead to non-citizens casting ballots.

State investigations and audits have shown in recent years that thousands of non-citizens ended up being registered, but few have ever illegally voted. Those who have are federally prosecuted.

Pulido has headlined concerts in General Bravo in the city as recently as November 2023, which local officials promoted and where the now-mayor and her husband, then-mayor Edgar Cantu Fernandez appeared. Obtained by NY Post
Pulido is challenging incumbent GOP Rep. Monica De La Cruz in the Texas district this November and has faced questions from the press about his ties to Mexico, where he has said he maintains a home for parts of the year. CQ-Roll Call, Inc via Getty Images

Pulido is challenging incumbent GOP Rep. Monica De La Cruz in the Texas district this November and has faced questions from the press about his ties to Mexico, where he has said he maintains a home for parts of the year.

The Latino music star admitted to splitting time with his family between there and Texas just two years before launching his campaign, telling a YouTube show in a 2023 interview that he’s a “summer Mexican” but “winter Texan.”

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“We live on the border,” he has also said. “My wife and I have a house in Mexico. So, we travel there, and we spend time over there.”

“Bobby lives in his family home in Edinburg, Texas, where he was born, raised, and is raising his own family,” the Pulido campaign rep noted. Getty Images

There was no indication of a current mortgage on a property either there or in the US, according to financial disclosures that Pulido filed April 15 with the House. Those filings also revealed he holds a checking account at a Mexican bank.

“Bobby lives in his family home in Edinburg, Texas, where he was born, raised, and is raising his own family,” the Pulido campaign rep noted. “He is in complete compliance with all House disclosure rules — the property you are referencing is not his primary residence so is not required to be listed.”



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Pushback grows over Texas governor’s threat to withhold public safety money

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Pushback grows over Texas governor’s threat to withhold public safety money


Criticism is mounting over the threat to withhold public safety grants from Austin and other major Texas cities, with opponents arguing the move is politically motivated as both the governor and attorney general seek office this year.

“Defunding the public safety for political reasons was wrong when the Democrats did it; still wrong when the Republicans do it,” the former executive director of the Combined Law Enforcement Associations of Texas, Charley Wilkison, wrote on X.

Criticism is mounting over the threat to withhold public safety grants from Austin and other major Texas cities, with opponents arguing the move is politically motivated as both the governor and attorney general seek office this year. (Photo: CBS Austin)

The statement came hours after Governor Greg Abbott threatened to cut $2.5 million in public safety funding to Austin. The governor expressed opposition to Austin’s decision to update its policy governing how police handle administrative warrants used by U.S. Immigration and Customs Enforcement in immigration detentions.

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“The city has updated its general orders to align with state and federal law and also to protect the Fourth Amendment of Austin residents who should be free from unlawful search and seizure,” said Austin City Councilmember Mike Siegel.

ALSO| Gov. Abbott threatens to withhold $2.5 million from Austin regarding APD ICE policies

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Houston and Dallas are also facing similar threats from the governor.

“The statement from the governor’s office was really disappointing and frankly it’s wrong on the law and it’s wrong on what’s good for public safety,” Siegel said.

In a statement provided in response to a request for an interview, the Combined Law Enforcement Associations of Texas said, “Law enforcement officers continue to be dragged into political warfare while real public safety issues are ignored.”

The president of the Austin Police Association did not respond to a request for comment regarding the potential impact on officers.

A request for comment to the governor’s office received a previously issued statement from Abbott’s press secretary, which read: “A city’s failure to comply with its contract agreement with the state to assist in the enforcement of immigration laws makes the state less safe. It can have deadly consequences. Cities in Texas are expected to make the streets safer, not more deadly.”

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Siegel defended the city council’s position, stating, “I can speak for myself as one of 11 voting members of our city council. We’re not going to sell our values for a couple million dollars in public safety grants.”



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