Terrell Hills, Bellaire, Trophy Club: These cities aren’t just some of the best places to live in Texas. They are also home to some of the richest people in the Lone Star State.
Terrell Hills in particular houses the richest residents in the state thanks, in part, to a median household income of $180,128 and a ridiculously low poverty rate of 1.4%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Texas share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2012-2016 American Community Survey for the 345 places in Texas with more than 5,000 people.
At the end of the day, here’s the set of the 10 richest places in Texas for 2018:
- Terrell Hills (Photos | Homes For Sale)
- Bellaire (Photos | Homes For Sale)
- Trophy Club (Photos | Homes For Sale)
- Fair Oaks Ranch (Homes For Sale)
- West University Place (Photos | Homes For Sale)
- Melissa (Photos | Homes For Sale)
- Helotes (Photos | Homes For Sale)
- Colleyville (Photos | Homes For Sale)
- Southlake (Photos | Homes For Sale)
- University Park (Photos | Homes For Sale)
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Texas.
How We Determined The Richest Places In Texas For 2018
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the ‘richest places’. So we looked at this set of criteria from the newly released 2012-2016 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 345 places with more than 5,000 people in Texas, we ranked each place from 1 to 345 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a ‘Rich Score’ with the place having the lowest overall Rich Score, Terrell Hills, crowned the ‘Richest Place In Texas For 2018’.
You can learn more about the top ten below or skip to the end to see the rankings for all 345 places.
1. Terrell Hills
Population: 18,140Median Income: $187,805
Unemployment Rate: 2.1%
Poverty Rate: 1.7%
More on Bellaire: Homes For Sale | Data
Bellaire is a city in southwest Harris County, Texas, United States, within the Houston–Sugar Land–Baytown metropolitan area. As of the 2010 U.S. Census, the city population was 16,855 and is surrounded by the cities of Houston and West University Place.
3. Trophy Club
Population: 10,987Median Income: $133,457
Unemployment Rate: 2.0%
Poverty Rate: 2.2%
More on Trophy Club: Homes For Sale | Data
Trophy Club is a wealthy northern suburb of the Dallas–Fort Worth metroplex. It is Texas’ first premiere planned community, built around the only golf course designed by Ben Hogan. The Trophy Club Country Club features two, 18-hole premiere golf courses. Trophy Club residents enjoy miles of planned pathways, beautiful medians, and over 1,000 acres of parks. It is located in Denton and Tarrant counties in the U.S. state of Texas. The population was 8,024 at the 2010 Census. It has been acknowledged multiple times by D Magazine as one of the best places to live in Dallas–Fort Worth.
4. Fair Oaks Ranch
Population: 8,582 Median Income: $125,119
Unemployment Rate: 2.4%
Poverty Rate: 1.5%
More on Fair Oaks Ranch: Homes For Sale | Data
Fair Oaks Ranch is a city in Bexar, Comal, and Kendall counties in the U.S. state of Texas. The population was 5,986 at the 2010 census. It is part of the San Antonio Metropolitan Statistical Area.
5. West University Place
Population: 15,318Median Income: $220,868
Unemployment Rate: 2.7%
Poverty Rate: 2.7%
More on West University Place: Homes For Sale | Data
West University Place, often called West University or West U for short, is a city located in the U.S. state of Texas within the Houston–The Woodlands–Sugar Land metropolitan area and southwestern Harris County. As of the 2010 U.S. Census, the population of the city was 14,787. It is nicknamed ‘The Neighborhood City’ and is mainly a bedroom community for upper-class families.
Population: 6,844Median Income: $101,518
Unemployment Rate: 2.2%
Poverty Rate: 0.9%
More on Melissa: Homes For Sale | Data
Melissa is a city in Collin County, Texas, United States. The population was 4,695 at the 2010 census, up from 1,350 at the 2000 census.
Population: 8,329Median Income: $114,063
Unemployment Rate: 2.0%
Poverty Rate: 2.5%
More on Helotes: Homes For Sale | Data
Helotes (/hlots/ h-LOH-tiss) is a city in Bexar County, Texas, United States, located on the far northwest side of San Antonio. It is part of the San Antonio-New Braunfels Metropolitan Statistical Area. The population was 7,341 at the 2010 census.
Population: 29,101Median Income: $189,432
Unemployment Rate: 3.3%
Poverty Rate: 2.5%
More on Southlake: Homes For Sale | Data
Southlake is a city located predominantly in Tarrant County with minor areas extending into Denton County in the U.S. state of Texas. Southlake is a suburb in the Dallas/Fort Worth Metropolitan area. As of the 2010 census it had a population of 26,575. Southlake is known for public schools, Southlake Town Square, its wealth, Gateway Church and Carroll High School’s 8-time state champion Football and Men’s Swim & Dive team.
10. University Park
Population: 24,346Median Income: $198,438
Unemployment Rate: 3.6%
Poverty Rate: 4.2%
More on University Park: Homes For Sale | Data
University Park is a city in Dallas County, Texas, United States, an inner northern suburb of Dallas. The population was 23,068 at the 2010 census. The city is home to Southern Methodist University.
There You Have It – The Wealthiest Places In Texas For 2018
Like we said earlier, when we set out to identify the richest places in Texas, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Texas.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Texas, according to data:
2nd Poorest: Elsa
3rd Poorest: Prairie View
For more Texas reading , check out:
Detailed List Of The Richest Cities In Texas
|Fair Oaks Ranch||4|
|West University Place||5|
|North Richland Hills||69|