The Exclusive World of Texas' $631,000-a-Year Club
Texas' cutoff for the 1% club, which represents the highest-earning households in the state, is $631,849 per year, according to personal finance website SmartAsset. This figure is about $20,000 lower than the national average. Wealth in America is increasingly concentrated among the few, with the top 1% of families holding over a third of the nation's total wealth. Nationally, it takes a household income of $652,657 to be in the top 1% of taxpayers, earning over eight times as much as the median household income of around $75,000.