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City of Midland News Release

Posted on: February 5, 2024 | Last Modified on: February 5, 2024

STUDY: MIDLAND RANKS 3RD IN TEXAS IN ADDITION OF HIGH-INCOME HOUSEHOLDS

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STUDY: MIDLAND RANKS 3RD IN TEXAS IN ADDITION OF HIGH-INCOME HOUSEHOLDS


(February 5, 2024)

MIDLAND, TEXAS -- Midland ranked third in the state of Texas in the addition of high-income households in 2022, according to a study from SmartAsset.com.

The financial advice website reported in its report – “Cities Adding the Most High-Income Households (2024 study) – that Midland ranked 39th of 345 of the largest U.S. cities. The study used the U.S. Census Bureau data to determine where the proportion of high-income households grew the most from 2021 to 2022.

The study showed Midland with a 57.4% increase in growth of high-income households (those making $200,000 or more). The actual number of households was 3,144, which propelled the percentage of those making $200,000 or more from 9.4% of the households in 2021 to 14.8% in 2022.

Inside Texas, Midland trailed only the central Texas community of Killeen and the south Texas city of Edinburg on the list. Killeen ranked fourth in the U.S. with a 146.2% growth in high-income households. Edinburg ranked 32nd with growth of 65.0%.

The top cities across the nation, according to SmartAsset’s study, were Spokane Valley, Washington (183.3%), Allentown, Pennsylvania (163.6%) and Evansville, Indiana (150%). 

Odessa ranked 95th with a 32.6% increase in high-income household growth. The report showed Odessa added 680 high-income households and that household earnings of $200,000 or more rose from 4.6% of the households in 2021 to 6.1% in 2022. 

Other West Texas cities included Abilene (ranked 83rd), Amarillo (102nd) and Lubbock (237th). 

According to the study, the IRS defines high income as taxpayers making $200,000 or more.

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Online: https://smartasset.com/data-studies/high-income-household-growth-2024

 

Cities adding the most high-income households

Spokane Valley, Washington, 183.3%

Allentown, Pennsylvania, 163.6%

Evansville, Indiana, 150.0%

Also

(Texas cities)

4. Killeen 146.2%

32. Edinburg 65.0%

39. Midland 57.4%

41. Garland 45.6%

46. Lewisville 51.5%

 

West Texas cities

39. Midland

83. Abilene

95. Odessa

102. Amarillo

225. El Paso

237. Lubbock

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