do you live in one of the top 10 richest cities in texas
Last updated on March 9th, 2023 at 07:00 am
The Lone Star State has something for everyone. It’s one of the prime destinations in the country for outdoor enthusiasts, history lovers, and those who prefer exploring different cuisines. Its topography flaunts warm sandy beaches as well as deserts, forests, and mountains.
In addition to having some of the largest urban centres in the US, Texas also has one of the best economies in the country, with low unemployment, no state income tax, and a cost of living that’s below the national average.
With plenty of jobs available, Texas makes an attractive state to relocate to for work or establish a company. Based on median household income and per capita income measures, we have chalked out a list of the ten richest cities in Texas, while including the reasons behind their successes as well.
A list of the 10 richest cities in Texas
1 . Terrell Hills
Median household income: $181,979
Per capita income: $78,597 per year (2015-2019)
With a population of about 5,371 people and a poverty rate of just 0.67%, Terrell Hills is the perfect place for people looking for a small, quiet town with a bustling downtown area and all the amenities of a big city.
3 . Highland Park
Median household income: $211,136 as of 2019
Per capita income: $149,069
Highland Park carries a small-town vibe, but offers almost all the benefits of a big city, including top-notch restaurants and schools, making it an ideal place to relocate for young families. Highland Park Village is a splendid location for shopping enthusiasts, offering both local boutiques as well as Chanel, Hermes, and other high-end retailers.
3 . Celina
Median household income: $124,375
Over 24% of people living in Celina earn more than $200,000 per year – about double the state’s per capita income.
In addition to great salaries here, Celina’s residents are highly educated, enjoy low obesity rates and high life expectancy rates, and have an average commute time of just 12 minutes.
4 . Southlake
Median household income: $240,248
With numerous well-paying jobs, good schools, nice homes, and a low cost of living, Southlake has a higher median household income than any other entry on this list. Home to 31,292 people as of 2019, the city enjoys one of the lowest unemployment rates in Texas at just 3.4%, with just 6% of residents living below the poverty line.
5 . Prosper
Median household income: $146,733
This boutique city in Collin and Denton counties enjoys more than double the state’s median household income of $61,874, in addition to sheltering the majority of the richest 1% of Texans. Almost 0.5% of its households make over $1 million in a year.
6 . Fair Oaks Ranch
Median household income: $128,398
Fair Oaks Ranch is perfect for people looking for a small town – a population of 9,944 (as of 2019) – finest cuisine, high incomes, and top-ranked public schools. The extremely expensive real estate is perhaps one of the reasons behind the low homeownership rate of 59%.
7 . Melissa
Median household income: $118,348
Per capita income: $38,134
This somewhat ethnically-diverse city has a median income that’s 1.5 times higher than the state average and a median household income growth that’s much higher than the international average rate of 27.36%.
8 . Alamo Heights
Median household income: $141,048
This small town of just 4.77 sq. km. and a population of about 8,374 people has a history dating back to the mid-1800s. Alamo Heights is a part of the greater San Antonio Metropolitan area, with almost 98% of the workforce engaged in white-collar jobs, much higher than the national average.
9 . West University Place
Median household income: $250,001
As of 2019, West University Place – surrounded by the cities of Houston, Bellaire, and Southside Place – was home to 15,603 people. As of 2011, the city had the fifth-highest fraction of households with incomes of $250,001 or more.
10 . Bellaire
Median household income: $206,734
Per capita income: $101,097
A small town of just 9.324 sq. km. and a population of nearly 18,815 people, Bellaire enjoys one of the lowest unemployment rates in Texas at 8% and one of the lowest crime rates as well. Its close proximity to Houston invites scores of good jobs and helps numerous families make six figures.