The old saying “everything is bigger in Texas” has no shortage of applications. The Lone Star State boasts the second-largest land area and population in the United States, dwarfing its neighbors. Furthermore, Texas is a financial juggernaut, with an economy generating $2.7 million annually according to Business in Texas. When ranked against foreign countries, this impressive gross domestic product places Texas as the eighth-largest economy on the planet. These bigger-than-life accolades also trickle down to the local level, where immense wealth can be concentrated in affluent suburban areas throughout the state.
According to the Statesman, five of America’s most prosperous suburbs were located in the Lone Star State, further highlighting how much of the country’s fiscal stability originates in Texas. Part of this wealth accumulation is a result of massive population growth. As per SmartAsset, some of the largest hikes in population occurred in cities throughout the state. Over three years, the state’s residents grew by nearly 5% as people across the country sought better economic opportunities and more financial stability. When comparing the entire state to national norms, Texas actually looks quite affordable. The average house runs about $300,000 according to Zillow, which is far less than the national average of more than $500,000. The average household income is just over $100,000 — roughly 3% less than the national standard. However, these numbers escalate dramatically when concentrating on the wealthiest neighborhoods in Texas. As is the case with many states, affordability concentrates in rural areas. Many of the well-off suburbs hover near the center of the state’s most populous and financially productive cities, such as Dallas, Houston, and Austin. Whether you’re thinking about moving to the Lone Star State or simply can’t contain your curiosity, here are the richest suburbs of Texas that might make you pause.
West University Place
West University Place is consistently ranked as one of the best places to reside in Texas, according to Niche. With a population of 14,907 and a manageable distance to downtown Houston, the wealthy neighborhood straddles the line between suburban privacy and city convenience. Families living in the area enjoy plenty of restaurants, bars, parks, and cafes, offering a self-sustaining design.
Getting into this top-tier locale is no small feat, as the average home costs an astounding $1,742,382, according to Zillow. Instead of plateauing or declining, the real estate market in the area is exploding, with home prices going up more than 5% in the past year alone. Renting is a little more palatable but still expensive at $1,979 monthly on average. That’s almost doubled since 2018…