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You either have to strike Texas gold -- oil that is --, be related to the Bush Presidents, own a cattle ranch, or have a bank account like Jerry Jones to live in our top ten richest cities in Texas for 2020.
If you're looking for safe cities and neighborhoods, amazing schools, grand swimming pools, great BBQ, and high-end ten gallon hat and #$%@-kicker stores with a bank account to match, you can stop your search. There are cities in the Lone Star State that have all of these five star amenities, and then some. And there are many cities in Texas that do just that. Is it like the 'Beverly Hillbillies' never left Texas in most of Texas' richest cities? Absolutely. And if you move to cities on our list like, Bellaire, you might find yourself living next to notables like Dennis Quaid or one of the members of the 2000 Little League Championship team.
How does one get their hand on one of these super wealthy cities? Well, a couple of things have to fall into place for you. First off, you need to find a job that pays close to $200,000/year. Might we suggest a job with USAA or Valero Energy in our number one richest city? Whether it's insuring millions of people or digging for oil, we're sure you'll stay busy and wealthy. Secondly, you have to be a hard worker. Unemployment rates and poverty rates in these Texas cities, barely reach 3.5%.
Monetary wealth does make a city rich, but there are cities on our list that are both rich in the dollar as well as rich in amenities. Cities on our list like Southlake and Trophy Club have some the fanciest golf courses. And cities like Fair Oaks Ranch and Prosper provide the idyllic Texas backdrop where you can chase tumbleweed for miles and/or ride your horse into the sunset. These cities have staycation written all over them. This means that you can keep money in your wallet to live that posh Texas lifestyle.
To see which cities came out on top of our wealthiest cities in Texas for 2020, take a look at the list below.
At the end of the day, here's the set of the 10 richest places in Texas for 2020:
- Terrell Hills (Photos | Homes For Sale)
- Bellaire (Photos | Homes For Sale)
- Highland Park (Photos | Homes For Sale)
- Melissa (Photos | Homes For Sale)
- West University Place (Photos | Homes For Sale)
- Trophy Club (Photos | Homes For Sale)
- Willow Park (>Homes For Sale)
- Southlake (Photos | Homes For Sale)
- Fair Oaks Ranch (Photos | Homes For Sale)
- Coppell (Photos | Homes For Sale)
To narrow down the richest cities in Texas, we looked at several factors: poverty rate, median household income, unemployment rate; and obviously, where the richest of the rich live. The cities also had to have a population of at least 5,000.
This left us with 352 cities in the largest state, and one of the most populous states in the country.
What's the wealthiest city in Texas? According to the data, whe wealthiest city in Texas for 2020 is Terrell Hills.
So, if you care about living where there are great jobs and wealthy people, take a look the list below. The Lone Star State is calling.
Rich people not your cup of tea? Feel free to check out some more reading about Texas:
The 10 Richest Cities In Texas For 2020
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.
Highland Park is a town in central Dallas County, Texas, United States. It is among the five wealthiest locations in Texas, and the most affluent suburb of Dallas. The population was 8,564 at the 2010 census. It is located between the Dallas North Tollway and U.S. Route 75, 4 miles north of downtown Dallas.
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.
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.
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.
Willow Park is a city in Parker County, Texas, United States.
Willow Park was the location of Trinity Meadows Race Track, one of the first horse racing tracks opened once Texas legalized parimutuel betting. However, it was never seriously considered for upgrade to first-class status, and once Lone Star Park opened, Trinity Meadows Race Track closed. It is home to Squaw Creek golf course, located just off Ranch House Road.
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.
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.
Coppell is a city in the northwest corner of Dallas County in the U.S. state of Texas. It is a suburb of Dallas and a bedroom community in the Dallas-Fort Worth metroplex. The population was 38,659 at the 2010 census. A small area in the far northern portion of the city extends into neighboring Denton County.
How We Determined The Richest Places In Texas For 2020
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 2014-2018 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 352 places with more than 5,000 people in Texas, we ranked each place from 1 to 352 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 City In Texas For 2020". You can download the data here.
You can learn more about the top ten below or skip to the end to see the rankings for all 352 places.
There You Have It - The Wealthiest Places In Texas For 2020
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: Prairie View
3rd Poorest: Robstown
For more Texas reading, check out:
Detailed List Of The Richest Cities In Texas
|5||West University Place||13.0|
|9||Fair Oaks Ranch||17.67|