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Texas totaled four suburbs in the nation's top 50, while California claimed 16.
By Emma Ruby
July 8, 2024
Ranking number 13 overall, Southlake has been known to attract former and current professional athletes.Jericho/Wikimedia
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Earlier this year we discovered that Dallas is home to a mind-boggling number of millionaires (68,600, to be exact). So it should come as no surprise that our suburbs are full of high rollers as well.
A recent study by the financial website GoBankingRates found that two Dallas 'burbs are among the wealthiest in the entire country, each ranking in the top 15. GoBankingRates evaluated all towns with at least 5,000 households before isolating the top 50 cities with the highest average household income. That data was crossed with average home values from 2024 to determine the wealthiest communities.
Unsurprisingly, spots one and two were clinched by suburbs of New York City, and the bronze medal went to West University Place, a suburb of Houston.
North Texas got its first mention with the sixth-place spot, given to University Park. According to the study’s findings, the average household income of the area is $381,235 and the average home value is $2,305,281. The tiny town sits within Dallas city limits, and surrounds Southern Methodist University, the most expensive university in Texas and one of the priciest in the country.
Southlake claimed spot number 13, with an average household income of $360,078 and a typical home evaluation at $1,240,766. The suburb of 31,000 has been known to attract professional athletes such as former Dallas Cowboys tight end Jason Witten, former Rangers pitcher Cole Hamels and current Denver Broncos head coach Sean Paytonto its million-dollar homes.
Dallas’ rankings landed above suburbs of major cities such as Los Angeles, San Francisco, Miami and Washington, D.C., but with four cities on the list, Texas fell significantly short of California’s 16.
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