Economy, jobs and prices in Texas, United States: official figures
The economy of Texas (gross domestic product) was worth $2.93 trillion in 2025 at current prices, 9.5% of the US total of $30.86 trillion; 2nd largest of 51. In current dollars it was up 4.5% on 2024.
How fast is the economy of Texas growing?
After adjusting for inflation, real GDP in Texas grew 2.8% in 2025, against 2.3% for the United States; 9th fastest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the GDP per capita of Texas?
Dividing 2025 GDP by the Census Bureau's population estimate gives $92,474 of output per resident, against $90,294 for the US economy divided by the population of the 50 states and DC; 14th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs the economy of Texas growing or shrinking?
In the second quarter of 2026, real GDP in Texas grew at an annual rate of 2.2% (United States: 2.2%); 19th fastest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat are the main industries in Texas?
In 2025 the largest private industry in Texas' economy was real estate, rental and leasing (12.7% of GDP), followed by manufacturing (11.3%) and wholesale trade (8.6%). Government accounted for 9.0%; the manufacturing share was 15th highest of 51 (United States: 9.5%).
Source: U.S. Bureau of Economic Analysis · saved copyHow much do people in Texas spend?
Consumer spending (personal consumption expenditures) in Texas came to $55,875 per person in 2025 (United States: $61,062); 19th lowest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs Texas expensive to live in?
Prices in Texas were 2.9% below the national average in 2024, by BEA's regional price parity of 97.1 (US = 100), which covers goods, services and housing; 25th most expensive of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the inflation rate in Texas?
Prices in Texas rose 2.5% in 2024, measured by BEA's implicit regional price deflator, against 2.6% nationally (PCE price index).
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the per capita income in Texas?
Personal income per person in Texas was $73,156 in 2025, against $77,028 for the United States; 26th highest of 51. It was up 4.2% on 2024 and up 33.4% on 2020, before inflation.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the disposable income per person in Texas?
After taxes, disposable personal income per person was $65,880 in 2025 (United States: $67,251); 23rd highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyHow far does income go in Texas?
Adjusted for local price levels, real personal income per person in Texas was $58,219 in 2024 in 2017 dollars (United States: $59,195); 25th lowest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the median household income in Texas?
Median household income in Texas was $79,721 in 2024 (margin of error ±$564), against $81,604 for the United States; 25th highest of 51 by the point estimate. It was up 2.2% on 2023 after adjusting for inflation (American Community Survey).
Source: U.S. Census Bureau · saved copyHow unequal are incomes in Texas?
The Gini index of household income inequality in Texas was 0.479 in 2024 (0 means equal incomes, 1 means one household has everything; United States: 0.481); 9th most unequal of 51.
Source: U.S. Census Bureau · saved copyWhat is the unemployment rate in Texas?
The unemployment rate in Texas was 4.4% in September 2026 (seasonally adjusted, preliminary), up from 4.3% a year earlier; tied for 14th highest of 51. The rate for the 50 states and DC combined was 4.2%.
Source: U.S. Bureau of Labor Statistics · saved copyHow many people are unemployed in Texas?
In September 2026, 701,994 people in Texas were unemployed and 15,246,403 employed, out of a labor force of 15,948,397.
Source: U.S. Bureau of Labor Statistics · saved copyWhat was the unemployment rate in Texas in 2025?
Over 2025 the unemployment rate in Texas averaged 4.2% (an 11-month average: October 2025 was not collected during the federal shutdown), against 4.1% in 2024; tied for 20th highest of 51. The lowest annual rate since 1976 was 3.5% in 2019.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the average salary in Texas?
Workers covered by unemployment insurance in Texas were paid $77,964 on average in 2025 ($1,499 a week), up 3.4% on 2024; the US average was $78,720. That is 13th highest of 51.
Source: U.S. Bureau of Labor Statistics · saved copyHow many jobs are there in Texas?
Employers in Texas had an average of 14,109,957 jobs on their payrolls in 2025 across 856,979 establishments, up 1.2% on 2024 (United States: up 0.5%).
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median wage in Texas?
The median annual wage across all occupations in Texas was $48,620 in May 2025 (mean $65,750); 21st lowest of 51. One in ten workers earned less than $27,250 and one in ten more than $125,220.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the most common job in Texas?
The most common occupation in Texas in May 2025 was fast food and counter workers, with 460,530 workers and a median annual wage of $27,740.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median household income in Texas?
Median household income in Texas was $79,723 in 2024, 26th highest among the 50 states and DC (U.S.: $81,604). In 2019 it was $64,044, so it has risen 24.5% before allowing for inflation.
Source: U.S. Census Bureau · saved copyWhat is the average rent in Texas?
The median gross rent in Texas, including utilities, was $1,475 a month in 2024, up 4.4% on 2023 ($1,413); 20th highest among the 50 states and DC (U.S.: $1,487).
Source: U.S. Census Bureau · saved copyWhat is the median home value in Texas?
Homeowners in Texas valued their homes at a median of $313,200 in 2024, up 5.5% on 2023 ($296,900); 22nd lowest among the 50 states and DC (U.S.: $360,600).
Source: U.S. Census Bureau · saved copyHow affordable are homes in Texas?
The median home value in Texas was 3.9 times the median household income in 2024 ($313,200 against $79,723); 21st lowest ratio among the 50 states and DC (U.S.: 4.4).
Source: U.S. Census Bureau · saved copyIs rent affordable in Texas?
A household on the median income in Texas would spend 22.2% of its income on the median rent of $1,475 a month in 2024 (U.S.: 21.9%).
Source: U.S. Census Bureau · saved copyHow Texas compares with other states
Gross domestic product, 2025 (current dollars) (2025)
Texas ranks 2 of 51, highest first.
| Rank | Region | Gross domestic product, 2025 (current dollars) |
|---|---|---|
| 1 | California | $4.30 trillion |
| 2 | Texas | $2.93 trillion |
| 3 | New York | $2.47 trillion |
| 4 | Florida | $1.81 trillion |
| 5 | Illinois | $1.24 trillion |
| 6 | Pennsylvania | $1.06 trillion |
| 7 | Ohio | $976.9 billion |
GDP per resident, 2025 (BEA GDP / Census population) (2025)
Texas ranks 14 of 51, highest first.
| Rank | Region | GDP per resident, 2025 (BEA GDP / Census population) |
|---|---|---|
| 11 | Illinois | $97,568 |
| 12 | Colorado | $95,610 |
| 13 | New Jersey | $92,980 |
| 14 | Texas | $92,474 |
| 15 | Virginia | $90,981 |
| 16 | New Hampshire | $90,634 |
| 17 | Maryland | $90,501 |
Real GDP growth, 2025 (2025)
Texas ranks 9 of 51, highest first.
| Rank | Region | Real GDP growth, 2025 |
|---|---|---|
| 6 | Idaho | 3.1% |
| 7 | Kentucky | 3.0% |
| 8 | Georgia | 2.9% |
| 9 | Texas | 2.8% |
| 10 | West Virginia | 2.8% |
| 11 | Florida | 2.8% |
| 12 | Rhode Island | 2.8% |
Real GDP growth, 2026:Q2 (annual rate) (2026:Q2)
Texas ranks 19 of 51, highest first.
| Rank | Region | Real GDP growth, 2026:Q2 (annual rate) |
|---|---|---|
| 16 | Arizona | 2.5% |
| 17 | Michigan | 2.4% |
| 18 | Wisconsin | 2.4% |
| 19 | Texas | 2.2% |
| 20 | Illinois | 2.1% |
| 21 | Mississippi | 2.1% |
| 22 | Ohio | 2.0% |
Personal income per person, 2025 (2025)
Texas ranks 26 of 51, highest first.
| Rank | Region | Personal income per person, 2025 |
|---|---|---|
| 23 | Rhode Island | $75,233 |
| 24 | Nevada | $73,767 |
| 25 | Oregon | $73,283 |
| 26 | Texas | $73,156 |
| 27 | Montana | $72,066 |
| 28 | Maine | $71,742 |
| 29 | Wisconsin | $71,219 |
Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) (2024)
Texas ranks 27 of 51, highest first.
| Rank | Region | Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) |
|---|---|---|
| 24 | Pennsylvania | $58,620 |
| 25 | Tennessee | $58,582 |
| 26 | Wisconsin | $58,273 |
| 27 | Texas | $58,219 |
| 28 | Missouri | $57,850 |
| 29 | Maine | $57,480 |
| 30 | Florida | $57,131 |
Median household income, 2024 (ACS) (2024)
Texas ranks 25 of 51, highest first.
| Rank | Region | Median household income, 2024 (ACS) |
|---|---|---|
| 22 | Idaho | $81,166 |
| 23 | Nevada | $81,134 |
| 24 | Georgia | $79,991 |
| 25 | Texas | $79,721 |
| 26 | North Dakota | $77,871 |
| 27 | Florida | $77,735 |
| 28 | Pennsylvania | $77,545 |
Regional price parity, 2024 (US = 100) (2024)
Texas ranks 25 of 51, highest first.
| Rank | Region | Regional price parity, 2024 (US = 100) |
|---|---|---|
| 22 | Minnesota | 98.6 |
| 23 | Vermont | 98.0 |
| 24 | Pennsylvania | 97.6 |
| 25 | Texas | 97.1 |
| 26 | Maine | 97.0 |
| 27 | Georgia | 96.3 |
| 28 | Michigan | 96.2 |
Unemployment rate, September 2026 (seasonally adjusted) (September 2026)
Texas ranks 14 of 51, highest first.
| Rank | Region | Unemployment rate, September 2026 (seasonally adjusted) |
|---|---|---|
| 11 | Illinois | 4.6% |
| 12 | Delaware | 4.6% |
| 13 | Minnesota | 4.5% |
| 14 | Texas | 4.4% |
| 15 | Florida | 4.4% |
| 16 | New York | 4.3% |
| 17 | Massachusetts | 4.3% |
Unemployment rate, 2025 annual average (2025)
Texas ranks 20 of 51, highest first.
| Rank | Region | Unemployment rate, 2025 annual average |
|---|---|---|
| 17 | Pennsylvania | 4.3% |
| 18 | Arizona | 4.3% |
| 19 | Louisiana | 4.3% |
| 20 | Texas | 4.2% |
| 21 | New Mexico | 4.2% |
| 22 | West Virginia | 4.2% |
| 23 | Arkansas | 4.1% |
Labor force participation rate, September 2026 (September 2026)
Texas ranks 14 of 51, highest first.
| Rank | Region | Labor force participation rate, September 2026 |
|---|---|---|
| 11 | Colorado | 65.2% |
| 12 | Wisconsin | 64.9% |
| 13 | New Hampshire | 64.8% |
| 14 | Texas | 64.2% |
| 15 | New Jersey | 63.7% |
| 16 | Maryland | 63.7% |
| 17 | Missouri | 63.3% |
Average annual pay, 2025 (QCEW) (2025)
Texas ranks 13 of 51, highest first.
| Rank | Region | Average annual pay, 2025 (QCEW) |
|---|---|---|
| 10 | New Hampshire | $80,892 |
| 11 | Virginia | $80,093 |
| 12 | Illinois | $80,038 |
| 13 | Texas | $77,964 |
| 14 | Minnesota | $76,940 |
| 15 | Delaware | $75,665 |
| 16 | Alaska | $75,391 |
Median annual wage, all occupations, May 2025 (OEWS) (May 2025)
Texas ranks 31 of 51, highest first.
| Rank | Region | Median annual wage, all occupations, May 2025 (OEWS) |
|---|---|---|
| 28 | Michigan | $49,270 |
| 29 | Nebraska | $48,980 |
| 30 | Montana | $48,740 |
| 31 | Texas | $48,620 |
| 32 | Iowa | $48,540 |
| 33 | Georgia | $48,170 |
| 34 | Kansas | $48,010 |
Median household income (2024)
Texas ranks 26 of 51, highest first. Census Bureau SAIPE model estimates
| Rank | Region | Median household income |
|---|---|---|
| 23 | Idaho | $80,852 |
| 24 | North Dakota | $80,132 |
| 25 | Georgia | $79,912 |
| 26 | Texas | $79,723 |
| 27 | Florida | $77,687 |
| 28 | Wisconsin | $77,557 |
| 29 | Pennsylvania | $77,532 |
Median gross rent (monthly) (2024)
Texas ranks 20 of 51, highest first. Renter-occupied units paying cash rent
| Rank | Region | Median gross rent (monthly) |
|---|---|---|
| 17 | Connecticut | $1,550 |
| 18 | Delaware | $1,530 |
| 19 | Georgia | $1,506 |
| 20 | Texas | $1,475 |
| 21 | Alaska | $1,444 |
| 22 | Rhode Island | $1,418 |
| 23 | Idaho | $1,384 |
Median value of owner-occupied homes (2024)
Texas ranks 30 of 51, highest first. Owner-reported value
| Rank | Region | Median value of owner-occupied homes |
|---|---|---|
| 27 | Wyoming | $339,500 |
| 28 | North Carolina | $333,000 |
| 29 | Tennessee | $332,600 |
| 30 | Texas | $313,200 |
| 31 | South Carolina | $299,500 |
| 32 | Wisconsin | $294,700 |
| 33 | South Dakota | $289,600 |
More on Texas: overview · health · education and schools · poverty and living standards · government budget · the United States
Sources
- U.S. Census Bureau: Household Income in States and Metropolitan Areas: 2024 (ACSBR-025), Appendix Table 1: median household income and Gini index by state, 2023 and 2024 American Community Survey, read 23 October 2026 · saved copy (SHA-256 5de1b0d5ec46…)
- U.S. Bureau of Economic Analysis: SASUMMARY: State annual summary statistics: personal income, GDP, consumer spending, price indexes, and employment (updated 30 September 2026), read 23 October 2026 · saved copy (SHA-256 a3757d207c05…)
- U.S. Bureau of Economic Analysis: SAGDP: Annual GDP by state, 1997-2025 (table SAGDP2, GDP in current dollars by industry), read 23 October 2026 · saved copy (SHA-256 3d3c5bc7bd24…)
- U.S. Bureau of Economic Analysis: SQGDP: Quarterly GDP by state, 2005-2026 Q2 (table SQGDP11, percent change in real GDP at annual rate), read 23 October 2026 · saved copy (SHA-256 1649260cdceb…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, monthly, seasonally adjusted, read 23 October 2026 · saved copy (SHA-256 7bb6f18d4145…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, annual averages 1976-2025, read 23 October 2026 · saved copy (SHA-256 262aba7d00df…)
- U.S. Bureau of Labor Statistics: Occupational Employment and Wage Statistics, May 2025 state estimates (state_M2025_dl.xlsx), read 23 October 2026 · saved copy (SHA-256 74d5be0e1df8…)
- U.S. Bureau of Labor Statistics: Quarterly Census of Employment and Wages, 2025 annual averages, all industries (open data CSV slice), read 23 October 2026 · saved copy (SHA-256 5a5f89142aae…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median gross rent (B25064), read 23 October 2026 · saved copy (SHA-256 8624f9775add…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median value of owner-occupied homes (B25077), read 23 October 2026 · saved copy (SHA-256 27120d5d8a5f…)
- U.S. Census Bureau: Small Area Income and Poverty Estimates (SAIPE): 2024 poverty and median household income, states and counties, read 23 October 2026 · saved copy (SHA-256 cb52c47d75c1…)
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