In 2017, the U.S. Census Bureau estimated that the average American makes about $59k a year. Unfortunately for most Americans, they do not live in the in the 1% category. Most Americans are middle class and live modest lifestyles.
But what if you did have so much money, you didn’t know what to do with it? Would you travel the world, write a book, or own a million horses? Would you stay where you are living now or move to someplace more upscale?
While many of us are familiar with living in apartments and small homes, the richer individuals have access to mansions with large lawns and even a pool… or two.
So where are all of the mega mansions and the American elite live? Some locations are obvious, like Manhattan for example. But if you are rich and not living in NYC, Los Angeles, or Chicago, where are you living? Do you opt to live in these megacities or someplace else?
What about Texas?
Yes, you read that right. Many rich Americans live in Texas. Whether that is due to oil enterprises or even old money, you can bet you will find some of the 1% living in this state.
So where are the rich living in Texas? We had the same question and luckily for you, HomeSnacks has tackled this question and found the answer.
Ready to see the places overflowing with wealth?
At the end of the day, here’s the set of the 10 richest places in Texas for 2019:
- Terrell Hills (Photos | Homes For Sale)
- Bellaire (Photos | Homes For Sale)
- West University Place (Photos | Homes For Sale)
- Southlake (Photos | Homes For Sale)
- Trophy Club (Photos | Homes For Sale)
- Melissa (Photos | Homes For Sale)
- Fair Oaks Ranch (Photos | Homes For Sale)
- Colleyville (Photos | Homes For Sale)
- Fate (Photos | Homes For Sale)
- Prosper (Photos | Homes For Sale)
We analyzed 349 places in Texas to determine where the 1% live in the state. Using “richness” factors like unemployment, home values, and poverty statistics, the richest city in Texas was a clear win: Terrell Hills.
This city has held its richest city in Texas rank for another year in a row. What makes this place so rich? It’s ridiculously low unemployment and poverty rates.
Next up was Bellaire, Texas. You may think of the Bel Air from the show, “The Fresh Prince of Bel-Air,” but this is not the same city. However, the glamour and wealth are on par.
No matter where you choose to live in these top cities, you can be sure you will be surrounded by some of the wealthiest in America.
Interested to see how your favorite Texan city stacked up? Read on to learn more about our methodology and to get a more detailed look at Texas’s richest cities.
Rich people not your cup of tea? Feel free to check out some more reading about Texas:
The 10 Richest Cities In Texas For 2019
Bellaire is a city in southwest Harris County, Texas, United States, within the HoustonSugar LandBaytown 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.
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 HoustonThe WoodlandsSugar 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.
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.
Trophy Club is a wealthy northern suburb of the DallasFort 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 DallasFort Worth.
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.
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.
How We Determined The Richest Places In Texas For 2019
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 2013-2017 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 349 places with more than 5,000 people in Texas, we ranked each place from 1 to 349 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 2019”.
You can learn more about the top ten below or skip to the end to see the rankings for all 349 places.
There You Have It – The Wealthiest Places In Texas For 2019
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:
Poorest: Prairie View
2nd Poorest: Raymondville
3rd Poorest: Commerce
For more Texas reading, check out:
- These Are The 10 Best Places To Retire In Texas
- 10 Safest Places In Texas
- These Are The 10 Best Counties To Live In Texas
How Is The Area In ?
Detailed List Of The Richest Cities In Texas
|3||West University Place||8.0|
|7||Fair Oaks Ranch||13.33|
|90||North Richland Hills||103.5|