Josh Patoka has been a personal finance writer since 2015. People here also love its safety as its one of the most securest places to live in Texas with very low crime rates. If you like big cities, they dont get much bigger than Houston. The following list illustrates the top 16 Richest Cities in Texas with each one boasting world-class amenities, access to high-end stores, top-rated schools, and lower crime rates. 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. Editors Note: We updated this article for 2022. It is also used to compare living conditions between geographic regions. Read more about Marathon and Big Bend National Park. He uses his professional and personal experience to help families save money and pay off debt faster. The H-E-B Center is a multi-use entertainment facility that hosts more than 150 events every year. Mansfield is next up on the list of the richest cities in Texas with a median household income of $88,736. Terrell Hills is one of the top spots for families who like quiet areas but . Mansfield - $56,446. Celina is a wealthy city in Texas, where residents earn high salaries and enjoy a comfortable lifestyle. However, it is one of a number of residential communities meant for upper-class families called the Memorial Villages, which fall within the Memorial Super Neighborhood. 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 . Prosper even hosts many of Texas top 1% earners, with 0.5% of households making over $1M annually a number far higher than the states 0.2%. Richest is a rather nebulous label when it comes to cities rather than individuals. These figures are all relative to one another. First, it's the hometown of the former U.S. President, Lyndon B. Johnson. Terrell Hills - $181,979. Bloomberg created and ordered this list by annual household income. Primarily, it is known for its very small population and its very high per capita income. Former U.S. Presidents George H.W. Continue with Recommended Cookies. The bar scene is also something to experience from classic bars like La Carafe to the unique charity bar Angel Share HTX. But, you get what you pay for. This small town covers 9.324 km and has about 18,815 people living there. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Southside Place incorporated in June of 1931, which is why it wasnt swallowed up by Houston like much of its surroundings. The 10 Richest Cities in Oklahoma According to Census Report, The 10 Richest Cities in Indiana Based on Census Data, The 10 Most Expensive Suburbs in Melbourne, 10 Wealthiest Cities in North Carolina Based on Census Report, The 10 Richest Cities in Oregon According to Census Bureau, The 10 Wealthiest Cities in New York State: Census Data, 10 Wealthiest Cities in Maryland Based on Census Report, The 10 Wealthiest Cities in Missouri Based on Census Report, The 10 Wealthiest Cities in Alabama According to Census Data, Why Are Movado Watches So Expensive? Nestled within the HoustonThe WoodlandsSugar Land metropolitan area and southwestern Harris County, this city has a population of around 15,600 people. Copyright 2021 by KPRC Click2Houston - All rights reserved. (Fun fact: That's roughly the size of France.) The median household income among the top 50 cities was $117,157. It is named thus because it was situated so close to Rice Institute, which is now called Rice University. A bedroom community of the Dallas-Fort Worth Area, Coppell is a city of 41,494 that ranks as the 6th best place to live in Texas. 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. This site uses Akismet to reduce spam. The city also has a vibrant Hispanic culture and is home to an arts district as well as several theme parks. We compared the various Texan metropolitan areas using data from several platforms to measure variable criteria for home affordability, healthy employment and population growth. The history of this city dates back to the mid-1800s; however, it was incorporated in 1946. There are areas in Texas that are affluent and home to the rich and famous. Considered the 3rd wealthiest citiy in Texas, The Woodlands is a master-planned destination that was founded in 1974 and is located close to Downtown Houston. By Anna Caplan. Thats almost double the average income in Texas! Let's have a look at the list below. 10.00% of the richest cities in Texas were aged 65 and over. Texas tops list of one-way U-Haul destinations in 2022 Southlake topped the list with a median income of $239,833. However, it teaches in a non-sectarian manner, which has presumably contributed to it having more Catholic students than Methodist students. Community amenities such as outdoor activities, public transit and healthcare access also play a factor. 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. When compared to the wealthiest cities in California, the median household income is less than half that of California. Many people living here report their race to be White, followed by Asian. Important ancestries here include German, English, Irish, Polish, and Italian roots. This West Texas town is just a short jump away from Big Bend National Park, one of the country's most majestic natural areas. 10 Reasons Why, Why Are Jeeps so Expensive? The Woodlands houses an amphitheater called the Cynthia Woods Mitchell Pavilion, high-end shops, live music, and eclectic nightlife. 6. Read more about Fredericksburg, Texas. Townhomes and condos can also be found for people who prefer low-maintenance living. Still, not right, but well go with it for now. Terrell Hills (San Antonio) 2. 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. 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. Every one of the top 20 towns have households that bring in at least $300,000 a year. Household income can include employment salary, self-employment earnings, Social Security benefits, pension, investment income, retirement income, and all income coming from other sources. Here are the 10 wealthiest cities in Texas in 2021, according to HomeSnacks: Looking for more real estate news? Our ratings take into consideration the city size, crime rate, unemployment rate and cost of living. 10 Reasons Why, Why are Mercedes Cars so Expensive? If you need help with the Public File, call (713) 778-4745. You should have no trouble recognizing that youre living in high society in Highland Park, an affluent town that, together with University Park, comprises the Park Cities enclave of Dallas. 10 this year, which is a one-place drop from the 2021 report. The State of Texas comprises 254 counties and 1,216 incorporated cities. Former First lady of the United States, Laura Bush, calls Midland her hometown. We and our partners use cookies to Store and/or access information on a device. Fast forward to today, Mansfield has a population of more than 70,000 people. Here are the 25 states that are home to the wealthiest small towns in America, along with the name of each town and its median household income: Richest town in California Monte Sereno, $250,000+ . Located north of San Antonio, this city has 5,371 people living in it. The consent submitted will only be used for data processing originating from this website. Back in town, Marathon's center of gravity is undoubtedly the Gage Hotel, a carefully restored historic property opened in 1927 by wealthy local rancher Alfred Gage, which is the perfect spot . This factor contributes to a low homeownership rate of 59%. Image Credit: Getty Images. At 39, Coppell has a lower median age than most places listed here, so we think residents Lego appreciation is proportionally higher. If University Park is out of your price range, dont worry, the top ten has a place for everyone. The city prides itself on being family-friendly and is a vibrant community of families and professionals. Midland is located in the Permian Basin, making it the epicenter of the Oil and Gas industry in Texas. Known as one of the best places to retire in the United States, Atascocita is known for relaxed and stress-free living at its finest. Perhaps they're also a little relieved to learn that city is Houston. Former First lady of the United States, Laura Bush, calls Midland her hometown. It has also undergone a light industrial growth to match the needs of its growing population. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[320,50],'homesnacks_com-large-mobile-banner-1','ezslot_9',113,'0','0'])};__ez_fad_position('div-gpt-ad-homesnacks_com-large-mobile-banner-1-0');if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[320,50],'homesnacks_com-large-mobile-banner-1','ezslot_10',113,'0','1'])};__ez_fad_position('div-gpt-ad-homesnacks_com-large-mobile-banner-1-0_1');.large-mobile-banner-1-multi-113{border:none!important;display:block!important;float:none!important;line-height:0;margin-bottom:5px!important;margin-left:auto!important;margin-right:auto!important;margin-top:5px!important;max-width:100%!important;min-height:50px;padding:0;text-align:center!important}, Population: 31,684Rank Last Year: 11 (Up 4)Median Home Value: $697,000Unemployment Rate: 2.2%More on Southlake: Real Estate|Crime Report|Cost Of Living. Take a ride on the Grapevine Vintage Railroad, a unique experience on authentic 1920s Victorian coaches, or plan a visit to the kid-friendly LEGOLAND Discovery Center. Best Places To Live In Texas In 2022 - Forbes Advisor Because of its strategic location, Missouri City is a great place to consider if you are thinking of relocating. Between the bustling cities to the tiny honky-tonk towns, it'd be nearly impossible to see and do it allbut you can certainly try. We aim to deliver bite-sized pieces of infotainment about where you live. Its also a college town, the state capital, and it has a healthy economy. Before leading business and investment advisory services for over 25 years, I got a Ph.D. in Economics and taught at the university level. Speaking of which, Hunters Creek Village is another one of the Memorial Villages that can be found in western Houston. According to an Assurant Survey, 45 percent of tenants lack renters insurance coverage even though, Read More 10 Companies Providing the Best Renters InsuranceContinue, As the state capital of Massachusetts, Boston is a large and diverse city. Southlake - $240,248. 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 excellent choice for people who commute to either one of those places. People also congregate in this area to attend live events and concerts all year round. But why focus on the wealthiest places in Texas? These 10 affluent Texas cities cash in as the richest places in the state, SXSW 2014 spotlight: CultureMap presents 30 Days, 30 Artists, Lincoln Properties The Grand Residences at The Domain, A diner with the "world's rudest service" is coming to Austin soon, Mexico City restaurant group opens second U.S. location in Southwest Austin, New hotel finds a home in the heart of downtown Austin, Austin was a top 10 destination for movers in 2022, study says. Theres plenty to do if you live in Southlake. Penske has been reporting on the migration patterns of Americans for 13 years, using data from the U.S. cities with the most inbound one-way consumer rentals throughout the year. On the other hand, the Denton Creek District is a 1,500-acre mixed-use district that is found on the western edge of town. With its strong sense of community and high incomes all around, West University Place remains one of Texas wealthiest cities. This compensation comes from two main sources. Were going to stick around the Dallas-Fort Worth metroplex to wrap up our list of best places in Texas with Keller, a suburb of 46,885. The median household income here is an impressive $180K per year and the per capita income stands at $78K. San Antonio also appeared ahead of Austin at No. The company, which only considered places with a population of at least 5,000, analyzed several factors to determine where the states 1 percent live: poverty rate, median household income, and unemployment rate, as well as a look at where the richest of the rich live. All in all, 353 of the states communities were included in the ranking. Theyre no stranger to our lists as they took the top spot last year and rank as one of the wealthiest places in Texas. In the report, Penske Senior Vice President Kevin Malloy said its always exciting to find out where the companys customers are moving with each new release. One San Antonio suburb is cashing in as the richest city in Texas. If your city or town isnt among the top 10, jump down to the bottom of the post to see a detailed chart of the best places in Texas. 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. Texasall 270,000 square miles of ithas no shortage of travel appeal. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks. The median family income in this city is $112K, and about 24.4% of its people make over $200K per year. Located north of San Antonio, this city has 5,371 people living in it. After the dust settled, what was the best place to live in Texas? This means that the neighborhoods in the city and the surrounding area vary significantly. California also led this list with 23 of the top 50, followed by Minnesota with four cities . 6 Reasons Why, Why Are Polo Cars so Expensive? If you're looking for old-fashioned fun, Boerne (pronounced BUR-nee) is the place to grab a Coke float and feel like you've been transported back in time. 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. Ranking as one of the best places to live in Texas and second-best in the San Antonio metropolitan area (behind Terrell Hills), Alamo Heights is indeed one of the states richest enclaves. The poorest neighborhood? Frisco is considered one of the fastest-growing cities in Texas with residents flocking there in droves. Austin is one of the best places to live in Texas for its diverse culture and outdoorsy activities. Many Americans relocated to Texas Sunbelt region in 2022, but Austinites may be surprised to see the city movers set as their destination. Due to the timing, Hilshire Village wasnt incorporated into Houston in the same manner as its unincorporated surroundings. Two well-to-do Houston-area communities also secured spots on the list. Save my name, email, and website in this browser for the next time I comment. Outdoor enthusiasts will enjoy the Palo Duro Canyon State Park, which is the nations second-largest canyon and is only dwarfed by the Grand Canyon. Its also the place with the 3rd highest rate of insured residents in Texas, with 98.4% of people being covered. This diverse city showcases people belonging to various racial and ethnic backgrounds, with the majority being White followed by Asian.