How Far Does a Middle-Class Salary Go in Texas? Check Out Austin and 6 Other Big Cities

A hot, oft-discussed and debated topic in the 2024 election cycle was the stability — or lack thereof — of the American middle class. As cost of living skyrockets, real estate prices spike, rent seems to go through the roof and the cost of groceries threatens to bust wallets, it often seems as if the salaries of the middle class simply aren’t enough to make ends meet anymore, especially in large cities.

Texas is one of the largest states in the union, as rife with big cities as it is with small towns. While small-town living might be far more affordable for the middle class, many feel the call of the big city (even if that comes with big-city prices), moving to tech centers such as Austin or business hubs such as Dallas.

Curious whether your middle-class income can make the leap to a Lone Star State big city? Thinking of buying a house in Fort Worth or renting an apartment in Austin? GOBankingRates has compiled the crucial data concerning seven major Texas cities — the median income and cost of living — for you to consider before making your decision.

• Median income: $86,556
• Annual cost of living for homeowner: $63,603
• Surplus of income for median middle-class homeowner: $11,546
• Annual cost of living for renter: $45,660
• Surplus of income for median middle-class renter: $29,489

• Median income: $63,985
• Annual cost of living for homeowner: $48,372
• Surplus of income for median middle-class homeowner: $26,777
• Annual cost of living for renter: $45,960
• Surplus of income for median middle-class renter: $29,189

• Median income: $71,736
• Annual cost of living for homeowner: $47,661
• Surplus of income for median middle-class homeowner: $27,488
• Annual cost of living for renter: $46,685
• Surplus of income for median middle-class renter: $28,464

• Median income: $72,726
• Annual cost of living for homeowner: $46,582
• Surplus of income for median middle-class homeowner: $28,567
• Annual cost of living for renter: $46,602
• Surplus of income for median middle-class renter: $28,547

• Median income: $60,440
• Annual cost of living for homeowner: $44,308
• Surplus of income for median middle-class homeowner: $30,841
• Annual cost of living for renter: $44,848
• Surplus of income for median middle-class renter: $30,301

• Median income: $59,593
• Annual cost of living for homeowner: $41,493
• Surplus of income for median middle-class homeowner: $33,656
• Annual cost of living for renter: $40,985
• Surplus of income for median middle-class renter: $34,164

• Median income: $55,710
• Annual cost of living for homeowner: $38,645
• Surplus of income for median middle-class homeowner: $36,504
• Annual cost of living for renter: $41,924
• Surplus of income for median middle-class renter: $33,225

Methodology: For this study, GOBankingRates analyzed the top 50 cities by population according to the U.S. Census 2023 American Community Survey. For each city, the following factors were found: total population, population ages 65 and over, total households and household median income, all sourced from the U.S. Census American Community Survey. Using this data, the percentage of the population ages 65 and over was calculated. Next, cost of living indexes were sourced from Sperlings BestPlaces. These include grocery, healthcare, housing, utilities, transportation and miscellaneous cost of living indexes. Using the cost of living indexes for grocery, healthcare, utilities, transportation and miscellaneous, as well as the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location was calculated. Next, the average single-family home value was sourced from the Zillow Home Value Index for September 2024. Using the average single-family home value, assuming a 10% down payment and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage was calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living was calculated. The livability index was sourced from AreaVibes for each location and included as supplemental information. Next, using the definition of middle-class income from the Pew Research Center, which defines the middle-class range as two-thirds to double the national median income, the middle-class income range for each city was calculated. Using the minimum, median and maximum income a middle-class household could earn, as well as the total cost of living for each location, the leftover income or additional income needed was calculated. The cities were sorted to show the places where a middle-class household is the most priced out, showing how far a typical middle-class household income goes in the largest U.S. cities. All data was collected on and is up to date as of Nov. 5, 2024.