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10 Wealthiest Cities in Texas 2023
The 10 Wealthiest Cities in Texas Based on Median Income: With no state income tax, low unemployment, and a cost of living that is lower than the national average, Texas boasts one of the greatest economies in the country.
It is possible to find work easily in Texas, which makes the state an attractive location for people who are considering moving to another state for work or launching their own company.
The state of Texas is a diverse place that has something to offer everyone. People who are interested in history, the beauty of nature, and good food will find it to be an ideal vacation spot.
In addition to deserts, woods, and mountains, the state of Texas is home to sandy beaches that are warm to the touch and hill terrain that is rough.
Greater Houston, with a population of 6.8 million people, Greater Dallas, with a population of 6.9 million people, and Greater Austin make up the state’s three most populous metropolitan regions (2 million).
Tourism, manufacturing, the medical industry, and the oil and gas sectors are the primary contributors to Houston’s economy.
Because of its vast population and business-friendly regulations, the city is also home to a sizable foreign community and a significant number of firms that have established their headquarters there.
Telecommunications, banking and finance, as well as the defense, aerospace, and transportation equipment industries, are the primary drivers of Dallas’ economy.
Atmos Energy Corporation, AT&T Inc., Comerica, Southwest Airlines Company, and Texas Instruments Incorporated are among the large firms with their corporate headquarters in Dallas.
10 Richest Cities In Texas 2023
It’s no secret that Texas is large, but it’s probably not the first thing that springs to mind when you think of this state.
The city, which is located to the north of San Antonio, has a median income of $181,979 for households and a per capita income of $78,597 for each resident each year (2015-2019).
The percentage of people living in poverty is merely 0.67 percent. The city is head quarter of many significant corporations, including Valero Energy Corporation, Tesoro Corporation, and NuStar Energy, which employ many of the area’s richest inhabitants.
Not only are the homes in Terrell Hills gorgeous, but many of them also have a long and illustrious history. There are a lot of homes that were constructed in the 1920s, but there are also a lot of residences that were built more recently.
2. Highland Park (Wealthiest Cities in Texas)– $211,136
As of the year 2023, Highland Park is one of the wealthiest communities in the state of Texas, with a median household income of $211,136 and a per capita income of $149,069.
The neighborhood has the atmosphere of a little town, yet it offers all of the advantages of living close to a major city, such as excellent schools, restaurants, and entertainment options, which makes it an excellent choice for young families.
Cities such as University Park, Dallas, and Mesquite are located on Highland Park’s other three sides.
The majority of Highland Park’s residential properties are single-family houses, which range in price from half a million dollars to more than ten million dollars.
Those who are interested in a lifestyle that requires less upkeep can choose from a large number of townhouses and condominiums that are either for sale or rent.
The neighborhood is quite conducive to walking, and it is bordered with trees and lovely homes and gardening.
Playgrounds and picnic places may be found at prominent parks including Armstrong Park and Glencoe Park, both of which are located in the city.
You may also take your kids to Exall Park, which features a swimming pool, tennis facilities, and pathways for running and jogging.
Those who prefer shopping will find that Highland Park Village, a shopping area that is open-air and features both local shops and high-end merchants such as Chanel and Hermes, is the perfect place for them to go.
3. Celina (Wealthiest Cities in Texas)– $124,375
One of the cities in Texas with the highest family incomes is Celina, which has a median family income of $112,375.
In addition, there are a staggering 24.4% of persons living in Celina who make over $200,000 annually, which is about double the income per capita in the state of Texas.
Both the median family income and the usual home price are greater than the norms for the state. The typical home costs $615,000, while the median household income is $124,375.
Not only do people make extremely good money here, but almost three out of every four households have an annual income of more than $50,000.
In addition to having a high level of education (nearly half of the population has obtained at least a bachelor’s degree), inhabitants of Celina have a commute time that is on average just 12 minutes long, and they have great health, as seen by low obesity rates and high life expectancy rates.
4. Bellaire (Wealthiest Cities in Texas)– $206,734
Bellaire has a median family income of $165,000, a per capita income of $101,097, and a median household income of $206,734. These figures are all relative to one another.
Additionally, the city’s unemployment rate of about 8% makes it one of the lowest in the state of Texas.
There are a lot of families in Bellaire that make six figures, and one of the reasons for that is because Bellaire is located very close to Houston, which means that there are a lot of good jobs that are brought into the city by way of Houston companies such as Mattress Firm and Designer Mattress Warehouse. This is one of the reasons why there are so many families that make six figures in Bellaire. Another reason is that there are a lot of people who
It is one of the most prosperous cities in the state of Texas.
The population of this little town, which covers just 9.324 km2, is around 18,815 people.
It has a relatively low crime rate and is considered to be one of the safest locations to reside in all of Texas.
5. Southlake (Wealthiest Cities in Texas)– $240,248
With a typical household income of $240,248, Southlake, which is located in the state of Texas, is considered to be one of the wealthiest communities in the United States.
At the time of the census in 2019, there were 31,292 people living there. The area known as Southlake may be found in the northeast corner of Tarrant County and also extends into the northwest corner of Dallas County.
In addition, the city serves as the headquarters for a number of major corporations, such as Santander Consumer USA, Neiman Marcus, and Sabre Holdings.
There is a correlation between cities with high median household incomes and low poverty rates. Only 6% of those who call Southlake home are living below the federal poverty line, which is much lower than the national poverty rate.
Southlake is one of the most expensive communities in Texas, despite the fact that its unemployment rate is only 3.4%, which is considered to be very low.
The expenses of goods and services in Southlake are around 21% more than they are on average across the United States, and the costs of housing in particular — which account for approximately 34% of the typical household’s spending — are nearly double what they are across the United States.
You may get employment that pay well, find attractive houses, attend quality schools, and maintain a reasonable cost of living in Southlake, which is located in Texas.
The typical annual income for households in Southlake is $240,248, while the median price of a property there is $1,300,000.
Within the Houston–The Woodlands–Sugar Land metropolitan region, as well as in the southwestern part of Harris County, the city of West University Place may be found in the state of Texas, United States.
At the time of the census in 2019, the population was 15,603. It is known as “The Neighborhood City,” and the majority of its population consists of upper-class families who use it as a bedroom town.
Cities including Bellaire and Houston, as well as Southside Place, are located on all sides of West University Place.
According to data from 2011, West University Place had the fifth-highest percentage of families who had annual earnings of $250,000 or more.
The names of more than half of the streets in West University Place include references to educational institutions, literary figures, and poets.
7. Prosper (Wealthiest Cities in Texas)– $146,733
One of the localities in Texas with the highest per capita income is Prosper, which is a small community located in both Collin and Denton counties.
The projected median household income in the town is $146,733, which is much more than the median income of the state, which is $61,874.
0.5% of families in Prosper make more than $1 million annually, which is a significantly greater percentage than the state’s 0.2% share. This indicates that Prosper is home to the majority of Texans who are in the top 1% in terms of wealth.
There are some options for employment inside the municipal limits of Prosper, despite the fact that many of the occupations in the area are probably occupied by commuting workers.
The retail business Bass Pro Shops and the Prosper Independent School District are among the city’s top employers. The school district serves more than 10,000 students across 11 campuses located around the city.
8. Fair Oaks Ranch (Wealthiest Cities in Texas)– $128,398
In the U.S. state of Texas, the communities of Bexar and Comal counties are home to the city of Fair Oaks Ranch. It is included in the data for the Metropolitan Statistical Area that encompasses San Antonio. At the time of the census in 2019, the population was 9,944.
You need not look much further than Fair Oaks Ranch if you are searching for a city in Texas that has high earnings, the best public schools in the state, and some of the best restaurants in the state.
The most prosperous city in the state of Texas is Fair Oaks Ranch, which is situated in Bexar County and is included in the San Antonio metropolitan region.
There are a lot of cities in the United States that have real estate that is ridiculously costly, and Fair Oaks Ranch is one of them.
The median value of a home in the city is $623,500, which is more than three times more than the value of a home in Texas and the value of a home in the United States overall.
There is a strong correlation between the high housing costs and the low homeownership rate of 59%.
The majority of those who do own their houses have finished paying off their mortgages: 66 percent of homes are owned without a mortgage, compared to only 46 percent of homes across the country.
9. Melissa (Wealthiest Cities in Texas)– $118,348
The average salary for a household in Melissa, Texas is $118,348 per year. With a median income that is more than twice as high as the state average for Texas, Melissa is one of the wealthiest communities in the Lone Star State.
The growth rate of the median household income is much greater than the average growth rate of 31.76% for the state and significantly higher than the average growth rate of 27.36% for the nation.
In comparison to both Texas and the rest of the country, Melissa’s high per-person income of $38,134 places it in an affluent position.
The city of Melissa is home to people of a varied collection of ancestries. Many different racial and ethnic groups are represented by the residents of Melissa, who say that they are proud to be members of their own communities.
The next most common response people of Melissa gave when asked about their race was that they were of Asian descent.
People in Melissa often have German, English, Irish, Polish, or Italian ancestry. Irish and Polish ancestry is very common.
10. Alamo Heights (Wealthiest Cities in Texas)– $141,048
As a subsection of the broader San Antonio Metropolitan region, Alamo Heights is recognized as one of the richest communities in the state of Texas.
Although the history of the city can be traced back to the middle of the 1800s, Alamo Heights did not become an official city until 1946.
Alamo Heights is a relatively modest-sized city, with a total land area of about 4.77 km2 and a population of approximately 8,374 residents.
The city is hemmed in on all sides by major urban areas, including San Antonio, making expansion of its borders next to impossible.
The majority of jobs in Alamo Heights are considered white collar, accounting for over 98% of total employment. This percentage is much higher than the national average.
In terms of quality of life, Alamo Heights is rated as the 211th greatest place to live in the state of Texas and the second finest place to live in the San Antonio metropolitan region, behind only Terrell Hills.
The current typical home value in Alamo Heights is $717,819, and the median family income is $141,048.
10 Wealthiest Cities in Texas Based on Median Income 2023 – Newshub360.net