1. Memphis, TN
People earning $250,000 per year in Memphis can look forward to an after-tax income of approximately $175,558. Thanks to no state income tax in Tennessee, a $250,000 salary is taxed at a rate of just 29.77%. Comparatively, those with a $100,000 salary enjoy a slightly lower tax rate of 25.48%. After factoring in the city’s cost of living, a $250,000 salary holds an estimated value of $203,663.57– highest across the 76 cities we studied.
2. El Paso, TX
A $250,000 income in El Paso is worth $200,180 after accounting for taxes and the cost of living. Like Tennessee, Texas doesn’t levy a state income tax, so a person making $250,000 per year is taxed at at rate of 29.77%. While per capita income in El Paso is $25,670, just 5% of households earn over $200,000 per year.
3. Oklahoma City, OK
Someone making $250,000 in the capital city of Oklahoma will have $164,221 after taxes. But thanks to Oklahoma City’s low cost of living, which is nearly 17% lower than the national average, that take-home pay is actually worth $197,381. The median home value in Oklahoma City is $190,900, and only 4% of homes are valued between $500,000 and $1 million.
4. Corpus Christi, TX
Like in El Paso, a $250,000 income in Corpus Christi is taxed at a rate of 29.77%, leaving an individual with $175,558 after taxes. But the low cost of living in this Gulf Coast city means that take-home pay is worth $196,593. That can go a long way in Corpus Christi, where the median home is valued at just $157,400 – about 20% less than a typical home in Texas.
5. Lubbock, TX
Only 7% of households in Lubbock earn more than $200,000. After accounting for taxes and the cost of living, a $250,000 income is actually worth $196,373. Texas Tech University, Covenant Health System and the corporate headquarters of United Supermarkets are the largest employers in this West Texas city.
6. Houston, TX
With nearly 2.3 million residents, Houston is the largest of the 10 cities at the top of our rankings. After factoring in taxes and the cost of living, an annual income of $250,000 in H-Town is actually worth $191,239. While the per capita income in Houston ($35,578) is slightly higher than the state average, 27% of households earn over $100,000 per year – 9% of whom make more than $200,000.
7. (Tie) San Antonio, Fort Worth, Arlington, TX
A $250,000 income is worth the same amount in three Texas cities: San Antonio, Fort Worth and Arlington. After accounting for taxes and the cost of living in each place, a quarter-million-dollar income is worth $188,772.
10. Jacksonville, FL
A $250,000 income in Florida’s largest city is worth $186,169 after accounting for taxes and the cost of living. Like Tennessee and Texas, the Sunshine State doesn’t levy a state income tax. As a result, a person with a $250,000 income is subject to a 29.7% tax rate. Zooming out further, over 26% of households earn more than $100,000 per year in Jacksonville and only 5% make more than $200,000.
