Incomes are rising across the United States. The U.S. Census Bureau reported the national median household income at $80,610 in 2023 — a 4% increase from $77,540 in 2022. While many cities are striving to reach six-figure incomes, a suburb in Texas has already surpassed this milestone. This is not surprising, as Plano is located in one of the strongest economic states.
SmartAsset found that approximately 54.3% of households in Plano earn over $100,000 annually, designating it as America’s happiest city. The city also boasts a marriage rate of 55.9% and ranks fourth in mental healthy days. Additionally, it is a top retirement destination due to its safety, amenities, and financial stability. The U.S. Census Bureau indicates that Plano’s median household income reached $108,649 in 2023, significantly higher than the Texas median of $76,292 and the national median of $78,538. Only 7.1% of Plano’s residents live in poverty, compared to 11.1% nationally. This higher income is particularly crucial as housing in certain Texas cities can be expensive. With this economic foundation, it is no surprise that Plano residents thrive beyond just their paychecks.
Why Plano pays so well
Plano’s impressive income levels are not accidental. The city hosts a thriving job market that continues to attract major employers. Corporations such as Toyota North America and JCPenney have relocated thousands of corporate jobs to Plano in recent years. According to the Federal Reserve Bank of Dallas, the unemployment rate in the Dallas-Plano-Irving metro area was only 3.9% in April 2025. Moreover, the talent pool in Plano is highly educated. The city’s 2021 Comprehensive Plan revealed that 58% of adults hold at least a bachelor’s degree and work in management, technical, or professional roles.
Six-figure salaries in Plano are not merely desirable; they are often essential. SmartAsset determined that residents must earn between $72,389 and $217,188 in 2023 to be considered middle class. The city’s cost of living and housing market necessitate higher wages, meaning that even those with substantial incomes must manage their finances wisely, especially when saving for retirement, to maintain their lifestyle.
Plano’s wealth leads to a happier life
Plano’s financial prosperity extends beyond figures – it is evident in the city’s investments in what matters to its residents. The City of Plano allocated $317.1 million in its FY2024-25 community investment program to parks, recreation, water infrastructure, and other essentials. Residents can observe these investments in real-time at places like Hall Park, where new trails and pavilions are being added. This investment is largely feasible due to the city’s robust tax base, with many households earning incomes classified as upper class in Texas.
Additionally, the city runs programs to assist residents in improving their homes and saving money. The Great Update Rebate offers up to $5,000 for eligible home improvements, including plumbing, water conservation, and accessibility upgrades. To qualify, the home must be at least 30 years old, be the primary residence, and meet the city’s property value limits.
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