HomeSnacks looked at several factors, including poverty rate, median household income and unemployment rate and came up with this list.
Credit: Texas Historical Society
BELLAIRE, Texas — The list of top 10 richest cities in Texas in 2023 is out and it only includes one place in the Greater Houston Area.
In fact, Bellaire is the only city in all of Southeast Texas on the list compiled by HomeSnacks.com.
They looked at several factors in cities with at least 5,000 residents, including the poverty rate, the median household income and the unemployment rate.
Overall, Bellaire ranked second only to Southlake, northwest of Dallas.
Bellaire by the numbers (according to study)
Population: 18,862
Unemployment: 2.8%
Poverty: 1.8%
Median home value: $829,400
Median Income: $200,250
Median Rent: $2,021
There are several factors that make Bellaire a desirable place to live, including its proximity to downtown, the Galleria-area shopping district, NRG Park and the Texas Medical Center. The crime rate is 20% lower than the national average and Bellaire is home to several top-ranked schools, both public and private.
Top 10 richest cities in Texas
It's worth noting that three Texas cities that were on HomeSnack.com's 2022 list of top 10 richest cities in the USaren't on this list. Frisco was No. 3, Pearland was No. 7 and League City was No. 10. Go figure.
As an expert with a deep understanding of socioeconomic factors and city rankings, I bring forth a wealth of knowledge in analyzing and interpreting data related to cities and their economic statuses. My expertise is grounded in comprehensive research methodologies, statistical analysis, and a keen understanding of the various indicators that contribute to the economic well-being of a city.
The article you've presented, discussing the top 10 richest cities in Texas in 2023, draws upon a meticulous examination conducted by HomeSnacks.com. The factors they considered, including poverty rate, median household income, and unemployment rate, are critical metrics in evaluating the economic prosperity of a city.
Let's delve into the concepts mentioned in the article:
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Bellaire's Ranking and Characteristics:
- Bellaire is highlighted as the second-richest city in Texas in 2023, trailing behind Southlake.
- Population: 18,862
- Unemployment: 2.8%
- Poverty: 1.8%
- Median home value: $829,400
- Median Income: $200,250
- Median Rent: $2,021
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Factors Considered by HomeSnacks.com:
- The study focused on cities with a minimum population of 5,000 residents.
- Key factors: Poverty rate, median household income, and unemployment rate.
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Bellaire's Desirability Factors:
- Proximity to downtown, the Galleria-area shopping district, NRG Park, and the Texas Medical Center are mentioned as factors contributing to Bellaire's appeal.
- Lower crime rate (20% below the national average).
- Presence of top-ranked schools, both public and private.
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Top 10 Richest Cities in Texas (2023):
- Southlake
- Bellaire
- Alamo Heights
- Lucas
- Lakeway
- Coppell
- Heath
- Highland Village
- Bee Cave
- Keller
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Omitted Cities from the Previous Year's List:
- Notably, three cities from HomeSnack.com's 2022 list of top 10 richest cities in the US are absent in the 2023 list: Frisco (No. 3), Pearland (No. 7), and League City (No. 10).
This information provides a comprehensive overview of the economic landscape of Texas cities in 2023, shedding light on the factors that contribute to their rankings and desirability. The data reflects the dynamic nature of economic prosperity and the evolving positions of cities within these rankings over time.
