After the dust settled, what was the best place to live in Texas? We understand just how hectic the moving experience can be and pride ourselves on putting the consumer first throughout the rental experience, he said. And since everything might be better and bigger in Texas, we decided that we would hunker down with our data, spreadsheets, and algorithms to do Texas proud when it comes to researching the best places to live in the Lone Star State. Former First lady of the United States, Laura Bush, calls Midland her hometown. Penskes top 10 moving destinations in 2022 are: With the arrival of National Moving Month in May, Penske decided to commemorate the month by releasing four specially-curated playlists on Spotify. The fact that Plano has plenty of nature to enjoy makes it desirable for families with children or young professionals who are looking to spend a lot of time outdoors. It should be noted that in this calculation, the definition of a household pertains to all people living in the same home, regardless if they are related to each other or not. 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. Bellaire has a median family income of $165,000, a per capita income of $101,097, and a median household income of $206,734. Read more about Fredericksburg, Texas. 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. Its also a great jumping off point for getting to Natural Bridge Caverns, Texas largest underground attraction and a serene, but strangely eerie, spot to spend the day. Olmos Park was meant to be an exclusive suburb of San Antonio from the very start, so it is perhaps unsurprising to learn that it is considered to be one of the richest cities that can be found in the whole of Texas. Flower Mound ranks as the 10th best place to call home in the Lone Star State. The 20 Best Place for Singles to Live in Their 50s in the U.S. 10 Companies Providing the Best Renters Insurance, The 10 Best Places to Live in The Bronx, NY, How Kendra Scott Achieved a Net Worth of $580 Million, How GloRilla Achieved a Net Worth of $800,000. Read more about Marathon and Big Bend National Park. Terrell Hills is the richest city in Texas. Most Affluent Small Cities: 50,000 to 100,000 Residents. Mckinney residents can enjoy access to Dallas restaurants, amenities, and cultural offerings without the high crime rate which makes this area very desirable. 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. Surrounded by San Antonio and other neighboring cities with limited room for expansion, Alamo Heights maintains its close community vibe. Move over, Manhattan. Image Credit: Getty Images. So Expensive 2023. In order to make the list cities also had to have a population of at least 5,000. People who live here say Flower Mound is a beautiful town with a heart of gold. Here are the 25 wealthiest places in DFW, ranked Were heading back down to the greater San Antonio area to arrive at our 2nd best city in Texas, Alamo Heights. Despite the name, Hilshire Village is a city rather than a village, though to be fair, its population is counted in the high hundreds. In any case, Hill Country Village is another one of the enclaves that can be found in the San Antonio Metropolitan Statistical Area. 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. 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. The data comes from the U.S. Census Bureau's 2008-2012 American Community Survey 5-Year Estimates. Some common motivations include the warm climate, no income tax and plenty of employment opportunities. Bellaire is a wealthy city in Texas, known for its high incomes and closeness to Houston. A new list from data provider HomeSnacks ranks Terrell Hills as the richest place in Texas with at least 5,000 residents. A large part of Melissas charm comes from its educated population many residents hold bachelors degrees or higher qualifications. There are plenty of corporations that are headquartered in Plano including Frito-Lay, Dell Services, Pizza Hut, and Cinemark Theatres. One of the greatest things about Flower Mound is the extensive trail system that was developed by the municipal government. The metro area is one of the fastest-growing in the country as companies often relocate their headquarters or core operations to the tax-friendly state. Terrell Hills is joined by one other San Antonio suburb, plus six cities from the Dallas-Fort Worth area and two from Houston. With a median household income of $105,806, Pearland is yet another popular place for people to escape the business of downtown Houston. 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. The incorporated city of Flower Mound is considered the richest city in Texas. Read more about Marathon and Big Bend National Park. However, among those who own homes here, most have already paid off their mortgage: 66% compared to 46% nationwide. Highland Park (Dallas-Fort Worth) 3. Northwest San Antonio's 78257 also placesan area of town just to the east of Fiesta Texasand the aforementioned West Lake Hills in Austin is there, as well. And unlike other places that just randomly decide that Austin has to be the best place to live, we stick to the cold hard facts from sources like the Census and the FBI. Fast forward to today, Mansfield has a population of more than 70,000 people. Alamo Heights is a city of 8,501 people almost completely surrounded by the bigger city, which helps give it the title of 9th most densely populated city in Texas. As the most densely-populated city in Texas, West University Place is sure to have enough activity even for your most social of social butterflies. 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. The richest zip code in Texas is 77010 which is located near Downtown Houston in Harris County. If you need help with the Public File, call (713) 778-4745. Before leading business and investment advisory services for over 25 years, I got a Ph.D. in Economics and taught at the university level. Thats okay though, because University Park residents are also the 4th best paid in the state, pulling in around $218,611/year. Population: 9,143Rank Last Year: 5 (Up 1)Median Home Value: $1,451,300Unemployment Rate: 3.9%More on Highland Park: Real Estate|Crime Report|Cost Of Living, An affluent suburb of the Dallas-Fort Worth metroplex, Trophy Club comes in as the 5th best place to live in Texas for 2022. Some people associate Texas with western and cowboy movies, and if you are looking for a city in the state that closely resembles that, then Midland is the place for you. Texas has proven a fairly affordable place to live but median household incomes are lower compared to other large states. The list below shows all of the top age brackets for the richest cities in Texas. Its sister city is Ciudad Juarez, Mexico. Congratulations are in order for Southlake: The "small city" is the most affluent city of its size in America, according to a new study. In short, Piney Point Village was settled when the railroad came through with the result that German farmers settled in the region. 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. Missouri City is one of the wealthiest towns in Texas, with a median household income of $76,572. With a great climate all year round, Lake Travis is a premier place for water sports and activities. Melissa, Texas is a prosperous city known for its high median household income of $118.3K, which is well above the state average. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. The city prides itself on being family-friendly and is a vibrant community of families and professionals. Mansfield is one of the numerous communities that make up the Dallas-Fort Worth Metroplex. What is the best place to live in Texas? West University Place - $250,001. The consent submitted will only be used for data processing originating from this website. It has also undergone a light industrial growth to match the needs of its growing population. ins.style.display='block';ins.style.minWidth=container.attributes.ezaw.value+'px';ins.style.width='100%';ins.style.height=container.attributes.ezah.value+'px';container.appendChild(ins);(adsbygoogle=window.adsbygoogle||[]).push({});window.ezoSTPixelAdd(slotId,'stat_source_id',44);window.ezoSTPixelAdd(slotId,'adsensetype',1);var lo=new MutationObserver(window.ezaslEvent);lo.observe(document.getElementById(slotId+'-asloaded'),{attributes:true});You might have come here expecting to see Dallas and Houston, but even though those cities offer up a ton to residents, its actually better to live outside the cities and commute. The low cost of living is very attractive to retirees which is why they choose to relocate here. 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 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+ . How is Median Household Income calculated? The Woodlands houses an amphitheater called the Cynthia Woods Mitchell Pavilion, high-end shops, live music, and eclectic nightlife. One of the best things about Allen is that it is 30 miles north of Dallas which means that living there will give you the benefits of the world-class amenities of Dallas but still come home to a smaller town that embodies a great, community feel. Alamo Heights, part of the greater San Antonio Metropolitan area, is among Texas wealthiest cities. It is part of the Dallas-Fort Worth-Arlington metropolitan statistical area and includes cities like Heath, Royse City, Fate, and Mobile City. For more Texas reading, check out: Most Dangerous Places In Texas Richest Cities In Texas Safest Places In Texas Richest is a rather nebulous label when it comes to cities rather than individuals. 10.00% of the richest cities in Texas were aged 65 and over. As a result, it can be an affordable place for families to live. 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. Commissions do not affect our editors' opinions or evaluations. Home prices in Flower Mound are the 10th most expensive in Texas, at around $376,500. You can also find the largest water park in the whole country in Round Rock, Kalahari Resorts & Convention. The team is owned by former Major League pitchers and currently successful businessman Nolan Ryan. Here are the 10 richest neighborhoods in Texas. This affluent community has an estimated median household income of $146.7K, which is more than double the states average of $61.9K. And with Dallas right there, you can be in Americas largest urban art district in under 15 minutes. Southlake is home to many affluent residents and boasts the highest median household income among all cities listed here. You can see those two top tens at the bottom of the post. The 16 Richest Cities in Texas (2022) - anntuilshopping.com And having the 11th lowest rate of poverty in Texas means that everyone in Trophy Club gets in on the good times. 20.00% of the richest cities in Texas were aged 45 to 64. Add to that top-notch schools and an excellent housing market, and youve got a recipe for the best place to call home in Texas. Southlake tops list of richest cities in Texas, study says How To Find The Cheapest Travel Insurance, 10 Affordable (And Booming) Cities For College Grads To Buy A Home, Guide To Down Payment Assistance Programs. You can download the data here. The city is also conveniently nestled within the Texas Triangle of Austin, Dallas and Houston, so citizens can easily reach these three metros for business or leisure. Josh Patoka has been a personal finance writer since 2015. Prosper - $146,733. Thirteen percent of homes in the area are worth more than $1 million, and 5% of residents earn . Now a look at how all the neighborhoods in Dallas ranked. The metro area is currently the nations fourth-largest and is likely to take the number three spot in the second half of this decade. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Continue with Recommended Cookies. Many households here earn at least $50K annually, making it an attractive place to call home. That work ethic really pays off for Colleyvilles residents, who earn the 9th highest pay in Texas, around $171,485/year. Because of its strategic location, Missouri City is a great place to consider if you are thinking of relocating. In this blog post, well take a look at the top 10 wealthiest cities in Texas based on median household income. Here are the 10 wealthiest cities in Texas in 2021, according to HomeSnacks: 1. If you want to live on the Gulf of Mexico or enjoy beach destinations, look no further than Corpus Christi. The Richest Small Town in Every State | GOBankingRates Austin is one of the best places to live in Texas for its diverse culture and outdoorsy activities. With picturesque views and traditional Texan home values, a lot of people enjoy living in Texas. The data in the sample should be in order. 10 Reasons Why, Why Are Audi Cars So Expensive? The city also has a vibrant Hispanic culture and is home to an arts district as well as several theme parks. A town of only 1,724 people, Salado is situated halfway between Austin and Waco. Terrell Hills is one of the top spots for families who like quiet areas but . Heath. In addition to Forbes, his bylines have also been featured on Credible, Fox Business, Wallet Hacks, and Well Kept Wallet. The median household income among the top 50 cities was $117,157. This small town has a rich and royal history. Most Affluent Small Cities in America | AdvisorSmith Copyright 2021 by KPRC Click2Houston - All rights reserved. Tara Donne. And since people with good jobs usually also have health insurance, West University place also has the 2nd highest rate of insured residents in the state. 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. > Metropolitan area: Dallas-Fort Worth-Arlington, TX As in most of the wealthiest American towns, more than 44% of households in University Park reported incomes of at least $200,000, many. With major employers like Ikea, Oracle, and T-Mobile, a lot of working professionals and executives call Frisco home. Many people living here report their race to be White, followed by Asian. However, it teaches in a non-sectarian manner, which has presumably contributed to it having more Catholic students than Methodist students. The U.S. Census Bureau estimated 23.7 million Americans moved in 2022, which is about 4 percent more than in 2021. Bellaire (Wealthiest Cities in Texas)- $206,734. 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. Celina (Dallas-Fort Worth) 4. Prosper is a luxurious city in Texas, located within Collin and Denton counties. In all, we analyzed the 341 places in Texas over 5,000 people for this study. Coppell is a place where the economy works for everyone, as evidenced by the super-low rates of unemployment (2.4%) and poverty (2.0%). 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. (Golf carts are the main transportation around town.). 10. Many Americans relocated to Texas Sunbelt region in 2022. The Forbes Advisor editorial team is independent and objective. Terrell Hills. The Best Small Towns in Texas If You're Looking for Lone Star Charm Celina is a wealthy city in Texas, where residents earn high salaries and enjoy a comfortable lifestyle. 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. Thats the kind of quality that pays dividends down the road. 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 song choices are intended to help people look forward to the journey ahead, according to Malloy.