As a rapidly growing state, Texas has become a hub for economic opportunities and prosperous cities. If you’re looking to move or invest in the state, knowing where the wealthiest cities are located can be a great starting point.
In this blog post, we’ll take a look at the top 10 wealthiest cities in Texas based on median household income. We’ll provide you with a brief overview of each city’s economy and highlight some of the factors that contribute to their financial success.
But why focus on the wealthiest places in Texas? 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.
By understanding what makes these cities successful, you can learn from their strategies and apply them to your own personal or business finances.
Whether you’re a Texan resident or an outsider looking to explore the state’s economic opportunities, keep reading to find out which cities are leading the way in terms of wealth and prosperity.
Richest Cities in Texas
Here are the 10 richest neighborhoods in Texas.
1. Terrell Hills
Terrell Hills is a small, charming town in Texas with many wealthy residents. Located north of San Antonio, this city has 5,371 people living in it. Terrell Hills is one of the top spots for families who like quiet areas but also enjoy the perks of a big city nearby.
The median household income here is an impressive $180K per year and the per capita income stands at $78K. With only a 0.67% poverty rate, many folks work at big companies like Valero Energy Corp., Tesoro Corp., and NuStar Energy that are based there.
Beautiful homes can be found all around Terrell Hills, some dating back to the 1920s while others are newer constructions.
2. Highland Park
Highland Park in Texas is a rich city known for its lovely neighborhoods and high incomes. The area has a small-town atmosphere, but it’s close to big cities like University Park, Dallas, and Mesquite.
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. Most homes in this area are single-family houses that range from $500K to over $10M.
Townhomes and condos can also be found for people who prefer low-maintenance living. Highland Park features parks such as Armstrong Park and Glencoe Park with playgrounds and picnic spaces, while Exall Park offers swimming pools, tennis courts, and jogging trails for leisure activities.
For shopping lovers, the open-air shopping center called Highland Park Village hosts local boutiques along with luxury retailers like Chanel and Hermes.
3. Celina
Celina is a wealthy city in Texas, where residents earn high salaries and enjoy a comfortable lifestyle. The median family income in this city is $112K, and about 24.4% of its people make over $200K per year.
That’s almost double the average income in Texas! Celina’s typical home price is $615K with a median household income of $124K, both higher than state averages. Many households here earn at least $50K annually, making it an attractive place to call home.
Besides having well-paying jobs, nearly half of Celina’s residents hold a bachelor’s degree or higher. Commutes are short with an average time of just 12 minutes, and the community enjoys excellent health thanks to low obesity rates and long life expectancy.
4. Bellaire
Bellaire is a wealthy city in Texas, known for its high incomes and closeness to Houston. The median family income in this town is $165K, and the per capita income stands at $101K, with households earning a median of $206.7K.
With one of the lowest unemployment rates in Texas at just 8%, Bellaire attracts families who appreciate financial stability. Many families in Bellaire earn six figures thanks to job opportunities brought by Houston companies like Mattress Firm and Designer Mattress Warehouse.
This small town covers 9.324 km² and has about 18,815 people living there. People here also love its safety as it’s one of the most securest places to live in Texas with very low crime rates. Bellaire’s residents mostly work white-collar jobs – nearly 98% of them do – which is significantly higher than the national average
5. Southlake
Southlake, Texas is a prosperous city that stands out for its high median income of $240.2K. This city’s population was 31,292 and it’s located in parts of northeast Tarrant County and northwest Dallas County. Southlake is home to many affluent residents and boasts the highest median household income among all cities listed here.
Big companies like Sabre Holdings, Neiman Marcus, and Santander Consumer USA have their homes in Southlake too. As a result, only 6% of residents live below the poverty line – less than one-third of the nationwide rate!
Although the unemployment rate is low at just 3.4%, living costs in this city are higher than average. Goods and services cost about 21% more compared to national averages, while housing expenses are nearly double.
Despite higher costs, Southlake offers excellent job opportunities, beautiful homes, top-rated schools, and relatively low living expenses. With a median home value of $1.3M in the area, it’s no wonder that Southlake ranks as one America’s wealthiest towns.
6. West University Place
West University Place is a prestigious city in Texas that attracts affluent families. Nestled within the Houston–The Woodlands–Sugar Land metropolitan area and southwestern Harris County, this city has a population of around 15,600 people.
West University Place is often called “The Neighborhood City” because it mostly serves as a residential community for upper-class families.
Many people living here report their race to be White, followed by Asian. The residents take pride in their diverse heritage which includes German, English, Irish, Polish, and Italian roots.
Most streets in West University Place are named after colleges, universities, and poets—giving the area an academic charm. With its strong sense of community and high incomes all around, West University Place remains one of Texas’ wealthiest cities.
7. Prosper
Prosper is a luxurious city in Texas, located within Collin and Denton counties. This affluent community has an estimated median household income of $146.7K, which is more than double the state’s average of $61.9K.
Prosper even hosts many of Texas’ top 1% earners, with 0.5% of households making over $1M annually – a number far higher than the state’s 0.2%. While lots of people living in Prosper commute for work, the city does offer employment opportunities within its boundaries as well.
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.
With its wealthier-than-average residents and excellent job prospects both inside and outside the city limits, Prosper remains one of the wealthiest cities in Texas.
8. Fair Oaks Ranch
Fair Oaks Ranch, a city in Bexar and Comal counties in Texas, is part of the San Antonio Metropolitan Statistical Area. 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.
Known as the wealthiest place in Texas, Fair Oaks Ranch offers its residents fine dining options, top-ranking public schools, and high incomes. The median home value in this city is $623.5K – more than triple compared to both Texas and the nation’s overall figures.
This factor contributes to a low homeownership rate of 59%. However, among those who own homes here, most have already paid off their mortgage: 66% compared to 46% nationwide.
9. Melissa
Melissa, Texas is a prosperous city known for its high median household income of $118.3K, which is well above the state average. Sitting in Collin County, Melissa’s residents have a per capita income of $38.1K, making them wealthy relative to the rest of Texas and the nation.
This diverse city showcases people belonging to various racial and ethnic backgrounds, with the majority being White followed by Asian. Important ancestries here include German, English, Irish, Polish, and Italian roots.
A large part of Melissa’s charm comes from its educated population – many residents hold bachelor’s degrees or higher qualifications.
10. Alamo Heights
Alamo Heights, part of the greater San Antonio Metropolitan area, is among Texas’ wealthiest cities. The history of this city dates back to the mid-1800s; however, it was incorporated in 1946. Alamo Heights may be small, covering just 4.77 km², but it’s home to about 8,374 residents who enjoy an enriched lifestyle.
Surrounded by San Antonio and other neighboring cities with limited room for expansion, Alamo Heights maintains its close community vibe. Nearly all of its workforce (98%) holds white-collar jobs – a number that surpasses the national average significantly.
The median home value in Alamo Heights stands at $717.8K while its median household income reaches $141K. 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 state’s richest enclaves.
FAQs
Fair Oaks Ranch
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. Known as the wealthiest place in Texas, Fair Oaks Ranch offers its residents fine dining options, top-ranking public schools, and high incomes.
What is the wealthiest neighborhood in Texas? ›
These are 2023's richest cities in Texas, report says
- Southlake.
- Bellaire.
- Alamo Heights.
- Lucas.
- Lakeway.
- Coppell.
- Heath.
- Highland Village.
Austin is the fastest-growing city for millionaires, according to the 2023 Wealth Report by Henley & Partners. Between 2012 and 2022, the number of millionaires calling Austin home more than doubled to 30,500. A 'millionaire growth rate' of 102% puts Austin at the top of the list.
What is the richest city in Texas 2023? ›
Southlake has been named the richest city in Texas for 2023 in a recent study. HomeSnacks.com has been ranking cities, neighborhoods, counties, and states across America for more than five years, using data from the Census Bureau, OpenStreetMaps, the FBI, and other sources.
What are the 5 most expensive cities in Texas? ›
According to a recent study, the most expensive places in Texas include Fair Oaks Ranch, College Station, Bastrop, Prairie View, Marble Falls, Addison, and Fredericksburg.
What's the richest cities in Texas? ›
Top 10 richest cities in Texas
- Southlake.
- Bellaire.
- Alamo Heights.
- Lucas.
- Lakeway.
- Coppell.
- Heath.
- Highland Village.
Southlake tops list of richest cities in Texas, study says.
Where do millionaires in Texas live? ›
In 2022, Dallas-Fort Worth had 92,300 high-net-worth individuals, an increase of 3% over 2021. These are individuals with investable assets of $1 million or more. It also had 4,340 multi-millionaires ($10 million or more), 211 centi-millionaires ($100 million or more) and 18 billionaires ($1 billion or more).
Where is the richest county in Texas? ›
The county with these amazing statistics is Rockwall County. “A typical household in Rockwall County, the state's richest, earns $34,021 more than the typical Texan household,” an online report stated.
What is the richest school district in Texas? ›
According to the list, the richest school district in Texas is Friendswood Independent School District. This district is found in Galveston County. The average household income for families in this school district is $167,090 per year. The graduation rate is 97%.
In Texas, Fredericksburg has the highest percentage of millionaires, where 701 households with more than $1 million in assets makes up nearly 6.5% of the area's population. (Fredericksburg come in at No. 47 on the national list.)
What is the most expensive zip code in Texas? ›
In Texas, the most expensive zip code is 78746 in Austin. The average home value is $1,409,777, which is 517.5% above the typical home value in Texas. Here's a look at the top 10 most expensive zip codes in Texas: 78746 (Austin)
What Texas city are Californians moving to? ›
From his research, Clark has found that Californians are almost exclusively moving to Texas' four large metro areas — Dallas-Fort Worth, Houston, San Antonio and Austin.
What are the 5 fastest growing cities in Texas? ›
Josephine, northeast of Dallas, dropped to second place in 2022, after being the fastest-growing city in Texas in 2021. The city's population grew by more than 50%, as did neighboring Caddo Mills. Godley, southwest of Fort Worth, and Celina, north of Dallas, round out the top five.
What is the most advanced city in Texas? ›
The prominent business site ranks Dallas-Fort Worth as one of the most high-tech cities in the world – and it's the only Texas spot to make the cut.
What is the most affordable big city in Texas? ›
El Paso. In addition to being the 22nd largest city in the United States, El Paso is also one of the cheapest cities to live in Texas.
What is the most expensive house in Texas? ›
As the saying goes, “Go big or go home.” But at this Dallas estate, you can do both. Priced at $60 million, the 27,000-square-foot property is the most expensive home in Texas currently on the market, reports the New York Post.
What is wealthy in Texas? ›
In Texas, you'd need an adjusted gross income of at least $594,000 to be in the state's top 1% of earners. That's not far off from the national average. In its analysis, SmartAsset found an American family needs a gross income of $597,815 to fall in the top 1% of earners nationally.
What makes Texas so rich? ›
Energy is a major component of the state economy. Texans consume the most energy in the nation both in per capita and as a whole. The state is also the nation's largest energy producer, producing twice as much energy as Florida, the state with the second-highest production.
What is the poorest city in Texas? ›
Nearly all residents of Carrizo Hill live below the poverty line. The local poverty rate in the town stands at a staggering 96.9%, compared to the statewide poverty rate of 14.0%. All data in this story are five-year estimates from the U.S. Census Bureau's 2021 American Community Survey.
These Are the 10 Wealthiest Cities in the United States:
- Palo Alto, California.
- Newton, Massachusetts.
- Milpitas, California.
- Bethesda, Maryland.
- San Ramon, California.
- Mountain View, California.
- Sunnyvale, California.
- Fremont, California.
Among the wealthiest Texans are Michael Dell, chairman and CEO of Dell Technologies; Jerry Jones, owner of the Dallas Cowboys; spouses Stanley Kroenke and Ann Walton Kroenke (though ranked separately); Tilman Fertitta, owner of the Houston Rockets; Airbnb co-founder Joe Gebbia; and Mark Cuban, owner of the Dallas ...
Does Houston or Dallas have more money? ›
The GDP of the Dallas economy is around $513 billion and features a future job growth rate of 44.1%. Major industries in Dallas include IT services, finance, healthcare, media, and telecommunications. Houston's economy has a GDP of around 454 billion and a job growth rate of 30.9%.
Why is Southlake so rich? ›
Southlake, Texas
A big reason why Southlake has become so wealthy is its proximity to the DFW International Airport, which was built in the 1970s and led the area to grow rapidly in the '80s, '90s, and '00s.
What city do most millionaires live? ›
New York City wears the crown as the world's top city with the most millionaires in 2023. Seven of the World's Top 10 cities listed are in countries that host formal investment migration programs and actively encourage foreign direct investment in return for residence or citizenship rights.
What is America's richest city? ›
The San Francisco Bay Area boasts 276,400 millionaires. It's known as the mecca of tech innovation, and as a result, the region has a high concentration of wealthy individuals. San Francisco also has the highest median household income in the country.
What is the richest US state? ›
New York is the richest state in the US, with a GDP per capita at $96,5k. This means that New York is responsible for around 9% of America's entire economic output, the highest percentage amongst the 50 states.
What is the richest rural area in Texas? ›
Hunters Creek Village
Its per capita income ($159k) and average home prices ($2.3M) are some of the highest in all of Texas, keeping Hunters Creek Village a frontrunner for luxury living.
What is the poorest county in Texas? ›
Zoom in: Dimmit County, in South Texas, had the state's highest share of residents in poverty, with 42.6%. Loving County, along the New Mexico border, apparently had the lowest, reporting 0.0% of the population in poverty. The Texas statewide average is 12.9%.
What is the smartest district in Texas? ›
Texas' best public school system is Highland Park Independent School District, a large district comprising four elementary schools, one intermediate school, one middle school, and one high school with a total enrollment of nearly 7,000.
These are the top 20 high schools in Texas
| State rank | School | Location |
|---|
| 1. | The School for the Talented and Gifted (TAG) | Dallas |
| 2. | Irma Lerma Rangel Young Women's Leadership School | Dallas |
| 3. | Science and Engineering Magnet School (SEM) | Dallas |
| 4. | Liberal Arts and Science Academy (LASA) | Austin |
16 more rowsMay 22, 2023
Mark's School of Texas. #1 Best Private High Schools in Texas.
What is the top 1% in Texas? ›
But how much do you actually need in your pocket to have a top one percent income? In Texas, an annual income of $641,400 will land you at the top, while $258,400 only gets you to the top five percent.
What is the 1st richest county in America? ›
The five richest counties in the U.S. (No. 1 being richest), based on our combination of factors, are: Falls Church, Virginia. Loudoun County, Virginia.
How many billionaires live in Texas? ›
Forbes lists 72 billionaires in Texas.
What is the most expensive city in Dallas? ›
1. Highland Park. Highland Park is the richest neighborhood in Dallas. Located just north of downtown, this affluent neighborhood is the epitome of luxury living.
What is Dallas most expensive suburb? ›
New List: These Dallas' neighborhoods are considered the richest!
- Highland Park.
- Westover Hills.
- University Park.
- Bluffview.
- Russwood Acres.
- Preston Hollow.
- Lakewood Heights.
- North Dallas.
An online lender, CashNet USA, collected new data from Zillow confirming that Highland Park is the most expensive place to live in the Lone Star State. The city, which lies about four miles north of Downtown Dallas in central Dallas County, has an average home cost of just above $7.3 million.
What city in Texas has the most Californians? ›
Travis County — home to Austin — attracted the largest group of California residents, according to the Express-News data analysis. And it's not just residents leaving the Golden State. According to news channel CBS 13, 153 California companies relocated from California to other states in 2021.
Why are people moving to Texas? ›
State leaders pointed to a number of reasons why people — mainly millennials — have been so attracted to Texas. There's no state income tax and the cost of living is lower than the national average. Plus, there are plenty of business-friendly policies.
The most common destinations for California migrants were Texas, Arizona, and Nevada. Texas had the most California transplants from 2020 to 2021: 105,000. Arizona (with 63,000 California transplants) and Nevada (55,000) were next highest.
What city in Texas has the best economy? ›
Houston, Texas
Perhaps those factors led to its high ranking on the Milken index for job growth. The Houston city area also scored high on Policom's index for economic strength that looks at consistent economic growth over time.
What is the slowest growing city in Texas? ›
Austin was one of the slowest-growing cities in the state, only increasing its population by 1,056 between July 2020 and July 2021, an increase of just 0.1%.
What is the hottest real estate market in Texas? ›
Top 5 Hottest Markets for Texas Commercial Real Estate in 2022
- Austin. Over the past few years, Austin has remained a booming commercial real estate investment activity center. ...
- Dallas. The Crowdstreet report ranked the Dallas/Ft. ...
- Fort Worth. ...
- San Antonio. ...
- Houston.
Q: What is the #1 city to move to in Texas? A: As of May 2023, Niche lists Cinco Ranch, a suburb of Houston, as the #1 place to live in Texas. However, Austin, Houston, and Dallas-Fort Worth have all become top Texas cities to move to, according to PODS moving trends data for 2022 and 2023.
What is the best city to live in Texas? ›
- Round Rock. Around 15 miles north of Austin, Round Rock isn't just the best place to live in Texas — based on our scoring model, this is the best place to live in the entire country. ...
- Arlington. ...
- Midland. ...
- Houston. ...
- San Antonio. ...
- 2023 Cost of Living in Austin, Texas.
Both Seymour and the Monahans Sandhills State Park have hit 120 degrees. That's still the hottest temperature on record in Texas.
Is Houston the richest city in Texas? ›
Dallas-Fort Worth was the 18th wealthiest city in the world in 2022, according to a report by Henley & Partners on the world's top 20 wealthiest cities. Six American cities made the list, two of them in Texas — DFW and Houston, which was ranked eighth.
What is Texas ranked in quality of life? ›
The rankings listed Texas as #1 for workforce, #3 for access to capital, #5 for economy, and #10 for cost of doing business.
What rank is Texas in income? ›
Texas is ranked twenty-fifth among US states by median household income, with a per capita income of $19,617 (2000).
Texas House Bill 588, commonly referred to as the "Top 10% Rule", is a Texas law passed in 1997. It was signed into law by then governor George W. Bush on May 20, 1997. The law guarantees Texas students who graduated in the top ten percent of their high school class automatic admission to all state-funded universities.
Who are the richest Texas residents? ›
Richest billionaires in Texas
- #8. Autry Stephens. ...
- #7. Jeffery Hildebrand. ...
- #6. Andrew Beal. ...
- #5. Stanley Kroenke. ...
- #4. Jerry Jones. ...
- #3. Michael Dell. ...
- #2. Alice Walton. - Net worth: $58.8 billion (#21 wealthiest in the world) ...
- #1. Elon Musk. - Net worth: $193.9 billion (#2 wealthiest in the world)
WalletHub, a personal finance website, released its study on 2023's Most Overweight and Obese Cities in the U.S. McAllen was ranked as the fattest city in the US in the study. Researchers looked at 19 key metrics in 100 of the nation's most populous metro areas, from physical activity to obesity to healthy eating.
What is the poorest race in Texas? ›
2019 Texas Poverty Rates by Race and Ethnicity
| All Texans | Families with Children |
|---|
| Black alone | 18.6% | 21.9% |
| Latinx (any race) | 18.7% | 21.8% |
| White alone, not Latinx | 8.0% | 7.6% |
| All | 13.6% | 15.5% |
2 more rowsSep 17, 2020
The nation's median household income was $70,784 in 2021, according to census data. In Texas, you need to make between $44,865 and $133,926 to fall into middle class.
Why is Houston so rich? ›
Houston has always been home to a large number of wealthy individuals because of the oil and gas industry, according to David Lummis, president and CEO of wealth management company Houston Trust Co.
Where do millionaires live in Houston? ›
The richest neighborhood in Houston is River Oaks. Located on the city's west side near Memorial Park, this area is known as a wealthy community filled with first-class excellence. From the majestic oak trees lining its streets to the exciting local eateries and social clubs, River Oaks is ideal for luxury living.
