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 2023.
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 2023, take a look at the list below.
Here are the 10 richest places in Texas for 2023:
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 355 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 2023 is Southlake.
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 2023
Rank Last Year: 1 (No Change)
Median Income: $239,833
Unemployment Rate: 2.2%
Poverty Rate: 2.3%
More on Southlake: Real Estate | Photos
Rank Last Year: 4 (Up 2)
Median Income: $211,202
Unemployment Rate: 2.4%
Poverty Rate: 2.1%
More on Bellaire: Real Estate | Photos
3. Alamo Heights
Rank Last Year: 3 (No Change)
Median Income: $152,188
Unemployment Rate: 1.7%
Poverty Rate: 3.9%
More on Alamo Heights: Real Estate | Photos
Rank Last Year: 5 (Up 1)
Median Income: $159,563
Unemployment Rate: 2.9%
Poverty Rate: 1.1%
More on Lucas: Real Estate
Rank Last Year: 9 (Up 4)
Median Income: $142,566
Unemployment Rate: 2.3%
Poverty Rate: 3.0%
More on Lakeway: Real Estate | Photos
Rank Last Year: 6 (No Change)
Median Income: $130,805
Unemployment Rate: 2.4%
Poverty Rate: 2.6%
More on Coppell: Real Estate | Photos
Rank Last Year: 15 (Up 8)
Median Income: $193,767
Unemployment Rate: 3.5%
Poverty Rate: 1.5%
More on Heath: Real Estate | Photos
8. Highland Village
Rank Last Year: 25 (Up 17)
Median Income: $151,951
Unemployment Rate: 3.3%
Poverty Rate: 1.8%
More on Highland Village: Real Estate | Photos
9. Bee Cave
Rank Last Year: 13 (Up 4)
Median Income: $100,179
Unemployment Rate: 1.4%
Poverty Rate: 4.7%
More on Bee Cave: Real Estate | Photos
Rank Last Year: 10 (No Change)
Median Income: $149,822
Unemployment Rate: 3.0%
Poverty Rate: 3.5%
More on Keller: Real Estate | Photos
Methodology: How We Determined The Richest Places In Texas For 2023
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 2017-2021 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 355 places with more than 5,000 people in Texas, we ranked each place from 1 to 355 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, Southlake, crowned the “Richest City In Texas For 2023”. 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 355 places.
Summary: The Wealthiest Places In Texas For 2023
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: Marlin
3rd Poorest: Roma
For more Texas reading, check out:
- Best Places To Live In Texas
- Cheapest Places To Live In Texas
- Best Places To Raise A Family In Texas
Detailed List Of The Richest Cities In Texas
|16||Fair Oaks Ranch||41.67|
|55||West University Place||82.33|
|68||North Richland Hills||88.67|