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Wednesday, October 5, 2022
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Local Cities Considered Wealthiest in U.S.

Lifestyle

People walking around Frisco Square in Texas. | Image by Fang Zheng, Getty Images

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A North Texas city continues its decade-long trend of being voted one of the wealthiest cities in the U.S., leaping a spot as the Dallas-Fort Worth metroplex’s economy sizzles. 

Frisco jumped to the third spot this year after landing in fourth place in 2021, according to data provider HomeSnacks. 

“It’s sorta like Dynasty. Many people here are loaded. Just about all households who live here earn well over $100,000 a year annually,” said Chris Kolmar, a writer for HomeSnacks. The median annual income earned by Frisco residents in 2020 was approximately $128,761, according to U.S. Census Bureau data.

HomeSnacks conducted the survey ranking using three data points: median household income, unemployment rate, and poverty rate.

With humor, Kolmar claimed Frisco households only vary between dual-income and primary-income earners in the top tier of their industry, such as doctors, lawyers, and business owners.

U.S. Census data showed Frisco had the 25th lowest unemployment rate, 3.7%, and the fourth lowest poverty rate: 4%.

HomeSnacks ranked University Park as the best place to live in Texas in 2022.

Four other cities in the Dallas-Fort Worth metroplex scored in the top 50 wealthiest: McKinney, Allen, Plano, and Carrollton.

  • #12: McKinney. The median household income was $100,775 (23rd), the unemployment rate was 3.5% (14th), and the poverty rate was 6.9% (29th).
  • #15: Allen. The median household income was $113,719 (11th), the unemployment rate was 4.3% (59th), and the poverty rate was 4.1% (5th).
  • #19: Plano. The median household income was $96,348 (33rd), the unemployment rate was 4% (41st), and the poverty rate was 6.3% (17th).
  • #23: Carrollton. The median household income was $82,345 (61st), the unemployment rate was 3.7% (23rd), and the poverty rate was 6.5% (18th).  

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Katie
Katie
1 month ago

I’m a proud Native Texan who has lived in & around all these great communities all my life. These suburbs offer a sense of safety & prosperity for all age groups. There are many Service Organizations that operate to help keep these cities thriving. People & businesses are friendly & helpful. Having traveled the US & world, I’m so grateful to be a 6th generation Texan.