The company analyzed four factors to arrive at that conclusion: poverty rate, median household income, and unemployment rate, as well as where the richest of the rich live.. However, it teaches in a non-sectarian manner, which has presumably contributed to it having more Catholic students than Methodist students. Population: 8,501Rank Last Year: 4 (Up 2)Median Home Value: $614,000Unemployment Rate: 1.4%More on Alamo Heights: Real Estate|Crime Report|Cost Of Living, Kicking off our list of best places to live in Texas is West University Place, an affluent suburb of Houston. Here are the 10 wealthiest cities in Texas in 2021, according to HomeSnacks: Looking for more real estate news? As a result, it is fitting that most of the street names in West University Place are references to either poets or institutes of higher education. Copyright 2023 Click2Houston.com is managed by Graham Digital and published by Graham Media Group, a division of Graham Holdings. If youre wondering where the best places to live in Texas are, our guide should make it easier to find your ideal community. With major employers like Ikea, Oracle, and T-Mobile, a lot of working professionals and executives call Frisco home. Highland Park (Dallas-Fort Worth) 3. According to the US Census, the median household income in Texas is around $66,826. As such, while Bunker Hill Villages small size means that its residents cant expect to find it packed with amenities, they have convenient access to everything that can be found in their surroundings. Located north of San Antonio, this city has 5,371 people living in it. Khambrel Marshall sits down with newsmakers in our community to discuss the issues having the greatest impact on our region, our state, our country, and our world. 1. Midland currently has a population of around 150,000 and is thought of as a relatively small town. We understand just how hectic the moving experience can be and pride ourselves on putting the consumer first throughout the rental experience, he said. In our opinion, the spirit of the Lone Star State can best be found through its charming small towns where friendly smiles and Southern hospitality are still the norm, and you're rarely far away from a Tex-Mex taco or piled-high barbecue sandwich. The Lakeside Business District is a 265-acre area that is zoned both commercial and residential. Several major industries also have a presence in the city, including a Bell helicopter plant and the Pantex Nuclear Weapons Facility, the nations only facility to assemble and disassemble nuclear weapons. As for escaping the hustle and bustle of the big cities, not many cities on this list can boast having a 46-acre natural refuge, complete with nine ponds and countless fishing spots. Most Affluent Small Cities: 50,000 to 100,000 Residents. You can see those two top tens at the bottom of the post. In this blog post, well take a look at the top 10 wealthiest cities in Texas based on median household income. Carrollton is a safe neighborhood and has more than 28 miles of hiking trails. Before leading business and investment advisory services for over 25 years, I got a Ph.D. in Economics and taught at the university level. Fort Worth is a neighboring suburb of Dallas, but it can be safer and more affordable. Townhomes and condos can also be found for people who prefer low-maintenance living. Mckinney residents can enjoy access to Dallas restaurants, amenities, and cultural offerings without the high crime rate which makes this area very desirable. It is part of the Dallas-Fort Worth-Arlington metropolitan statistical area and includes cities like Heath, Royse City, Fate, and Mobile City. As a result, only 6% of residents live below the poverty line less than one-third of the nationwide rate! With a low crime rate, affordable cost of living, and high accessibility to world-class amenities like restaurants, bars, and theaters, Plano is one of the up-and-coming cities in Texas where people relocate into. 7. Because of its affluent population, this city has used a smart growth system in terms of urban planning. Despite the exponential growth that Mansfield has undergone, it never lost its small-town charm and the quality of life that it provides to its residents. With a population of around 9,900 according to the recent census report, this city has become an attractive destination for those seeking luxury living. The Woodlands houses an amphitheater called the Cynthia Woods Mitchell Pavilion, high-end shops, live music, and eclectic nightlife. This is a whopping 13 times higher than in the poorest town of Macon, Miss., at. Read more about Grapevine, Texas. Austin is one of the best places to live in Texas for its diverse culture and outdoorsy activities. Two well-to-do Houston-area communities also secured spots on the list. The towns of Annetta, North Annetta and South Annetta all ranked among the Top 25 wealthiest places in North Texas. Here are the 10 richest neighborhoods in Texas. It is named thus because it was situated so close to Rice Institute, which is now called Rice University. If you like big cities, they dont get much bigger than Houston. Here are the 10 wealthiest cities in Texas in 2021, according to HomeSnacks: 1. Your financial situation is unique and the products and services we review may not be right for your circumstances. Hill Country Village is another excellent example of a place that is classified as a city but boasts numbers that are more in line with what most people would expect from the village that it is called. 10.00% of the richest cities in Texas were aged 65 and over. 2019 rank: 1 Median household income: $175,913 Unemployment rate: 1.2 percent unemployment rate Poverty rate: 0.7 percent, 2019 rank: 2 Median household income: $201,629 Unemployment rate: 2.4 percent Poverty rate: 1.7 percent, 2019 rank: 25 Median household income: $207,019 Unemployment rate: 2.3 percent Poverty rate: 2.7 percent, 2019 rank: 5 Median household income: $113,532 Unemployment rate: 1.4 percent Poverty rate: 0.3 percent, 2019 rank: 3 Median household income: $250,001 Unemployment rate: 2.9 percent Poverty rate: 1.7 percent, 2019 rank: 6 Median household income: $142,483 Unemployment rate: 2.5 percent Poverty rate: 2.4 percent, 2019 rank: Not ranked Median household income: $119,511 Unemployment rate: 2.3 percent Poverty rate: 2.1 percent, 2019 rank: 4 Median household income: $230,700 Unemployment rate: 3 percent Poverty rate: 2.2 percent, 2019 rank: 7 Median household income: $125,806 Unemployment rate: 2 percent Poverty rate: 3.6 percent, 2019 rank: 13 Median household income: $123,802 Unemployment rate: 2.5 percent Poverty rate: 3.2 percent. Because of its proximity to Austin, people who live in Cedar Park have premier access to Austins amenities and there are a plethora of things that you can do. Former First lady of the United States, Laura Bush, calls Midland her hometown. Whether youre a Texan resident or an outsider looking to explore the states economic opportunities, keep reading to find out which cities are leading the way in terms of wealth and prosperity. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. It takes some serious dough to live in these places! With a per capita income of $149K and a median household income of around $211K, Highland Park attracts many young families who value top-notch schools, restaurants, and entertainment options. 10. Terrell Hills is joined by one other San Antonio suburb, plus six cities from the Dallas-Fort Worth area and two from Houston. In addition to Forbes, his bylines have also been featured on Credible, Fox Business, Wallet Hacks, and Well Kept Wallet. Lake Travis is approximately 10 miles from Cedar Park and is frequented by residents and neighbors alike. Celina is a wealthy city in Texas, where residents earn high salaries and enjoy a comfortable lifestyle. Texas has been appropriately nicknamed the Lone Star State and is home to 29.9 million people. They also come with apt names: Pack It Up, Moving on Mix, Forwarding Address, and Make This House, Home.. Located just twenty minutes outside downtown Houston, Sugar Land boasts big city amenities but with small-town hospitality. For more Texas reading, check out: Most Dangerous Places In Texas Richest Cities In Texas Safest Places In Texas Most streets in West University Place are named after colleges, universities, and poetsgiving the area an academic charm. One San Antonio suburb is cashing in as the richest city in Texas. Located in the Dallas/Fort Worth area, Carrollton is one of the richest cities in Texas. Brownsvilles median income and estimated living expenses are less than the states major cities. Forget Beverly Hills. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Additionally, the city's unemployment rate of about 8% makes it one of the lowest in the state of Texas. Information provided on Forbes Advisor is for educational purposes only. The icing on the cake is the beautifully preserved Texas nature that is unrivaled. Yes. 1. The Woodlands is a recent development in Texas that has around 28,000 acres filled with trees so theres always plenty of greenery to enjoy. Its also the place with the 3rd highest rate of insured residents in Texas, with 98.4% of people being covered. The 10 Best Weekend Getaways In Texas For The Ultimate Lone Star Trip, The Best Christmas Towns In Texas To Visit This Holiday Season, 10 Things To Do In Dripping Springs, Texas, Hill Country, The 50 Best Small Towns In The South 2023, 10 Best Lakes In Texas For A Lone Star Getaway, 8 Best Things To Do In Fredericksburg, Texas, The 10 Best Beaches In Texas To Visit, From State Parks To Small Towns, 19 Hidden Adventures In Texas Hill Country, The Best National Parks And Sites In Texas, The Best Tubing Rivers In Texas To Float When Its Hot Outside, Lubbock Comes Alive with Art, Wine, and Fine Cuisine, 7 Resorts In Texas For The Ultimate Lone Star Escape, Why PortAransas Is Texans' Most Beloved Family Vacation Spot. He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move. Population: 46,885Rank Last Year: 10 (Up 2)Median Home Value: $412,800Unemployment Rate: 3.3%More on Keller: Real Estate|Crime Report|Cost Of Living. The comparison criteria and corresponding sources include: Check your rates today with Better Mortgage. Former First lady of the United States, Laura Bush, calls Midland her hometown. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Alamo Heights has a diverse population, high-quality public schools, and hot markets for both jobs and housing. Prosper is a luxurious city in Texas, located within Collin and Denton counties. As a result, it can be an affordable place for families to live. Alamo Heights - $141,048. The name Rockwall is derived from the subterranean rock formation that surrounds the county. Cheapest Places To Live In Texas Best Places To Raise A Family In Texas The 10 Best Places To Live In Texas For 2022 1. The city has two major recreation centers: Joe Farmer Recreation Center and Don Rodenbergh Natatorium. We ranked each place in Texas across a number of criteria from one to 341, with one being the best. Theres plenty to do if you live in Southlake. University Park made a strong showing to take in the overall number one spot for the best place to live in Texas for 2022. San Antonio also appeared ahead of Austin at No. Theyre no stranger to our lists as they took the top spot last year and rank as one of the wealthiest places in Texas. Household income is generally used as a guideline to measure whether an area is economically healthier than other areas. But, you get what you pay for. 10 Reasons Why, Why Are Audi Cars So Expensive? Investopedia defines the generic formula for household income as the total gross income before taxes that is received in 12 months by all members of the household above a specified age. The median household income here is an impressive $180K per year and the per capita income stands at $78K. Technically, Bunker Hill Village is an independent enclave that can be found in western Houston. Mansfield is next up on the list of the richest cities in Texas with a median household income of $88,736. Richest is a rather nebulous label when it comes to cities rather than individuals. Poverty rates among U.S.-born and foreign-born Asians were 9% and 11%, respectively, that year. Population: 11,904Rank Last Year: 9 (Up 4)Median Home Value: $444,800Unemployment Rate: 4.1%More on Trophy Club: Real Estate|Crime Report|Cost Of Living. Terrell Hills - $181,979. It is where the headquarters of Imperial Sugar is located, which is a sugar refinery and distribution center. There are areas in Texas that are affluent and home to the rich and famous. The Lone Star State truly provides everything that people are looking for which is a perfect blend of urban and rural living in a highly affordable area. Celinas typical home price is $615K with a median household income of $124K, both higher than state averages. 10 Reasons Why, Why Are U-Boat Watches So Expensive? Besides this point of interest, it should be mentioned that West University Place offers a higher quality of life than most of its counterparts in the state thanks to its status as a bedroom community for upper-class families. Consider El Paso if you want to live in western Texas and along the Mexican land border. Visit Royer Round Top Caf, a family-run institution since 1987, for a slice of one of their famed pies, such as the Original Buttermilk Pie and the Texas Trash Pie. Highland Park - $211,136. Texas has proven a fairly affordable place to live but median household incomes are lower compared to other large states. The residents take pride in their diverse heritage which includes German, English, Irish, Polish, and Italian roots. Homes in University Park are the 1st costliest in Texas, going for a median price of $1,451,300. 5) Round Rock A Yee/Flickr Round Rock recently made Livability.com's 2015 list of Best Affordable Cities in Texas. However, Austin is still a top 10 destination for American movers, according to a the latest Top Moving Destinations report from Penske Truck Rental. The U.S. Census Bureau estimated 23.7 million Americans moved in 2022, which is about 4 percent more than in 2021. Young professionals often want to live in areas where there are employment opportunities and activities for them, Read More The 20 Best Place for Singles to Live in Their 50s in the U.S.Continue, Renters insurance can protect you when renting a home or apartment. Because of its strategic location, Missouri City is a great place to consider if you are thinking of relocating. Leading employers include retail giant Bass Pro Shops and Prosper Independent School District, which caters to over 10,000 students across 11 schools in town. Lucas. All cliches aside, theres a serious problem with overcrowding, skyrocketing prices, and the infamous crime rates. Agriculture and international trade are other vital industries for the region. We analyzed cities by pulling recent data on key lifestyle factors such as the areas median home price, personal income per capita, and the unemployment and crime rate. Location-wise, it is interesting in that it is situated at around the same distance to both Dallas and Fort Worth, thus making it an . This small town has a rich and royal history. Lakeway. Data USA: https://datausa.io/profile/geo/texas#economy, Investopedia:https://www.investopedia.com/median-income-by-state-5070640, Income by Zip Code:https://www.incomebyzipcode.com/texas, Census:https://www.census.gov/quickfacts/TX, Your email address will not be published. I also traveled to 40+ states on business and pleasure, and love writing about the great cities and small towns across the US. This West Texas town is just a short jump away from Big Bend National Park, one of the country's most majestic natural areas. Missouri City is one of the wealthiest towns in Texas, with a median household income of $76,572. West University Place came into existence because of a former governor of Tennessee named Ben Hooper. This city is also known as a settlement area for pioneers back in the day which makes it very historic. Josh Patoka has been a personal finance writer since 2015. The median home value in Alamo Heights stands at $717.8K while its median household income reaches $141K. Marathon, Texas. He uses his professional and personal experience to help families save money and pay off debt faster. 9, which is a three-place drop from 2021 when the city ranked No. Residents of Texas enjoy no state taxes, bigger living spaces for less money, and most of all the rich tradition and culture that is accentuated by Southern charm. The richest zip code in Texas is 77010 which is located near Downtown Houston in Harris County. Because of its strategic location, Missouri City is a great place to consider if you are thinking of relocating. It has also undergone a light industrial growth to match the needs of its growing population. Well, not only do these cities offer high-paying jobs, but they also tend to have a lower cost of living and better quality of life. Terrell Hills is a small, charming town in Texas with many wealthy residents. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. With a median age of 35, University Park is the youngest city to make this list, so you know its a vibrant place with fresh ideas. Highland Park The richest city in Texas is Highland Park. Located only about half an hour from San Antonio and less than two hours from Austin, the town is largely centered around a lively downtown district known as the Hill Country Mile, which consists of the Main Street drag lined with dozens of antiques shops and specialty stores, including The Dienger Trading Co. Read more about Boerne, Texas. Evidently, the importance of education transcends age, because about 30% of Colleyvilles residents kept earning degrees after earning their bachelors. There are several beaches to visit, and the area is home to Padre Island National Seashore, the Texas State Aquarium and a naval air station. Sitting in Collin County, Melissas residents have a per capita income of $38.1K, making them wealthy relative to the rest of Texas and the nation. The Forbes Advisor editorial team is independent and objective. There are a number of measurements that can be used to rank cities based on this criterion, but one of the best is per capita income. Downtown Houston is also home to the nationally recognized Houston Theatre District where you can find the Houston Ballet, Houston Grand Opera, Houston Symphony, and the Theatre under The Stars. If youre looking at areas in Texas with the best economic situations, where theres lower than average crime, and a lot to do, this is an accurate list. Tesla and John Deere are two of the most recent high-profile examples. Terrell Hills is the richest city in Texas. Midland currently has a population of around 150,000 and is thought of as a relatively "small town". Homes here will cost you a pretty penny with the median price being 223,621, but thats a bargain compared to some other places on this list. You can even catch a Christmas Wine Train in December. The median home value in this city is $623.5K more than triple compared to both Texas and the nations overall figures. West University Place is a prestigious city in Texas that attracts affluent families. Goods and services cost about 21% more compared to national averages, while housing expenses are nearly double. It's as authentic as it gets.). Missouri City is one of the wealthiest towns in Texas, with a median household income of $76,572. As a bonus, folks in University Park only commute 19 minutes to and from work, which is the shortest trip youll see on this list. The place started up because of a man named Frank Bruess who bought 30 acres of land in the 1940s before being incorporated in the mid 1950s. Are you sure you want to rest your choices? It's easy to get distracted by the twice-yearly antiques fair extravaganza in Round Top, where you can score all sorts of unexpected goodies, but this town has much more to it than just shopping. Congratulations are in order for Southlake: The "small city" is the most affluent city of its size in America, according to a new study. The town square has restaurants featuring different cuisines. Save my name, email, and website in this browser for the next time I comment. Texas tops list of one-way U-Haul destinations in 2022 Southlake topped the list with a median income of $239,833. currently successful businessman Nolan Ryan, Related Article: Most Expensive Tequilas in the World, The 10 Most Expensive Clarinets In The World. We used science to determine which places in the Lone Star State are the real superstars. Moneyed individuals dont often go in for crime, and that holds true in University Park, where violent crime is the 3rd lowest in Texas and the total crime rateis 50% lower than the national average. All three of the towns have less than 1,000 households. Some are, Read More The 10 Worst Neighborhoods in NYCContinue. Read along as we get to know the wealthiest towns in Texas based on median household income. Dallas' rank remained the same year-over-year from the previous report at No. Bellaire (Houston) Here are the 10 richest cities in Texas, as determined by HomeSnacks. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. If youre looking to move or invest in the state, knowing where the wealthiest cities are located can be a great starting point. Austin only ranked No. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. So what city topped the list? The citys nickname is Sun City because of its year-round sunny, desert climate, which provides the opportunity for plenty of outdoor activities. College Station is home to Texas A&M University and is part of the Brazos Valley Economic Development Corporation, which helps provide high-tech jobs in Texas. If youre looking for something more national, check out the best states in America or the best places to live in America. Population: 25,027Rank Last Year: 2 (Up 1)Median Home Value: $1,351,400Unemployment Rate: 4.4%More on University Park: Real Estate|Crime Report|Cost Of Living. It also has one of the premier educational systems in the state, with GreatSchools giving Coppells schools an average score of 8/10 (with plenty of 10/10s available, depending on your district).if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'homesnacks_com-leader-1','ezslot_8',112,'0','0'])};__ez_fad_position('div-gpt-ad-homesnacks_com-leader-1-0'); All these things are great indicators of Coppells high quality, but we havent come to the citys best feature: being only ten minutes away from the Legoland Discovery Center. Part of the Southern Living team since 2017, Kaitlyn Yarborough is a Georgia native living in Austin, Texas, who covers a wide variety of topics for both the magazine and website, focusing on culture and lifestyle content, as well as travel in the South. This means that the neighborhoods in the city and the surrounding area vary significantly. We'd love to hear from you, please enter your comments. West University Place is often called The Neighborhood City because it mostly serves as a residential community for upper-class families. Bellaire (Wealthiest Cities in Texas)- $206,734. Eventually, a community formed, situated very close to a sawmill that presumably meant a fair amount of economic benefit in those times. So to create our ranking, we broke places to live into three tiers: This left us with 341 cities, 580 towns, and 518 small towns.

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