How Far the Median Income Goes in Texas’ Largest Cities

The Texas population is booming. In 2022, a whopping 668,000 people moved from another state to Texas, according to Texas Realtors. While the migration has slowed a bit, with 562,941 new residents coming in from July 2023 to July 2024, per the Texas Tribune, the state boosted its demographics higher than anywhere else in the U.S.

Where you live can seriously affect your wallet; and, if you’re living in Texas or thinking of relocating, you might be wondering just how far your money will go in the Lone Star State. With the rising cost of living across the U.S., understanding what the median income can actually afford is important. We take a look at the state’s biggest cities to see how far the median income goes in Texas and which areas offer the most bang for your buck, based on data from GOBankingRates.

• Population: 2.3 million
• Annual cost of living: $44,732
• Median household income: $62,894
• What’s left after cost of living: $18,162

Houston is the largest city in Texas — and one of the most affordable major metros in the U.S. The average value of a single-family home in Houston is $276,928, with a typical monthly mortgage payment of $1,620. Thanks to a strong median income, residents can cover about 140.6% of monthly expenses, making Houston a top choice for budget-conscious homeowners.

• Population: 1.5 million
• Annual cost of living: $41,633
• Median household income: $62,917
• What’s left after cost of living: $21,284

San Antonio is Texas’ second-biggest city, but it’s slower paced for a large metro and is easy on your bank account. The average home value is $257,722, the average mortgage is $1,508 and the median income covers 151.1% of monthly expenses.

• Population: 1.3 million
• Annual cost of living: $48,913
• Median household income: $67,760
• What’s left after cost of living: $18,847

With a population of nearly 1.3 million, Dallas is the third-largest city in Texas. It’s a family-friendly area with a vibrant arts community and diverse food options, but it can be pricier than other big cities in the state. The average home value is $332,141, the average mortgage is $1,943 and the median income covers 138.5% of monthly expenses.

Known for its lively music scene, surging tech industry and legendary food truck culture, Austin is a fun but moderately expensive city to live. The average home is worth $556,505, the average mortgage is $3,255 and the median income covers 142.5% of monthly expenses.

• Population: 941,311
• Annual cost of living: $46,892
• Median household income: $76,602
• What’s left after cost of living: $29,710

Fort Worth offers a lower cost of living compared to other Texas cities. The average home value is $305,918, the average mortgage is $1,789 and the median income covers 163.4% of monthly expenses.

• Population: 678,147
• Annual cost of living: $39,273
• Median household income: $58,734
• What’s left after cost of living: $19,461

With its tight-knit community, small-town feel and renowned Mexican food, El Paso is a city people love and recommend moving to. With a population of 678,147, it’s the state’s sixth-largest city. The average home value is $231,959, the average mortgage is $1,357 and the median income covers 149.6% of monthly expenses.

• Population: 394,769
• Annual cost of living: $47,976
• Median household income: $73,519
• What’s left after cost of living: $25,543

Arlington is one of the smaller big cities in Texas. It’s centrally located between Dallas and Fort Worth, so you can easily enjoy larger metro amenities for cheaper. The typical home value is $320,811, the average mortgage is $1,877 and the median income covers 153.2% of monthly expenses.

Methodology: Data was sourced from the U.S. Census American Community Survey, Sperling’s BestPlaces, the Bureau of Labor Statistics Consumer Expenditure Survey, AreaVibes, Zillow and the Federal Reserve Economic Data. All data was collected on and is up to date as of July 3, 2025.