Two Dallas Suburbs Among Wealthiest in U.S.

Two picturesque cities in North Texas rank among the nation’s wealthiest suburbs, according to a recent study by GoBankingRates.

The study evaluated cities and towns in the U.S. with at least 5,000 households, comparing average household income and average home values. Two Dallas suburban cities, University Park and Southlake, landed on the list’s top 15.

The top two spots went to two suburbs of New York City. In No.1, Scarsdale, the average household income is $568,942, and the typical home value is $1.4 million.

Texas made its first appearance in the top five with West University Place, outside of Houston.

North Texas made the list at No.6 with University Park, a 3.7-square-mile enclave surrounded on three sides by the City of Dallas and by the town of Highland Park to the south. The average household income in University Park is $381,235. Despite a lower average income among its residents, the typical home value in University Park surpassed that of the first three suburbs on the list, listed as a whopping $2.3 million.

University Park is home to Southern Methodist University, the most expensive college in Texas and one of the costliest in the nation, according to the Dallas Business Journal. It is one of the most highly educated cities in the U.S., with 85% of residents aged 25 or older having a college or advanced degree.

The Dallas suburb of Southlake, Texas, came in at No.13 on the list. The average household income in Southlake is $360,078, and the typical home value is $1.2 million.

Known for its sprawling estates, Southlake has become a magnet for the wealthy, including former and current professional athletes and coaches scattered among its neighborhoods. According to the Dallas Observer, this list includes former Dallas Cowboys tight end Jason Witten, former Rangers pitcher Cole Hamels, and current Denver Broncos head coach Sean Payton.

Another Texas city, Bellaire, a suburb of Houston, ranked among the top 50 wealthiest suburbs, with an average household income of $294,605 and a typical home value of $1.1 million.

California had the greatest number of affluent suburbs on the top 50 list, with 16.