Texas beats California in new ranking of the fastest-growing wealthy suburbs in America
Texas has more affluent suburbs than California and is home to the bulk of America’s fastest-growing wealthy communities, according to a new study from GoBankingRates.com.
The personal finance company’s report found the Lone Star state has seven of the 30 wealthiest suburbs in America — three of which are growing the fastest in terms of population.
The report found the 30 wealthiest suburbs in America with the quickest rates of growth based on a number of factors, including property value, livability, household income and more., using data from Federal Reserve Economic Data, the U.S. Census American Community Survey, the Bureau of Labor Statistics Consumer Expenditure Survey and the Zillow Home Value Index.
Texas was No. 1, but California was ranked No. 2.
Here are the Texas locations that made the list:
The fastest-growing Texas suburbs
According to the GoBankingRates.com report, Texas is home to the top three fastest-growing wealthy American suburbs: Fulshear, Celina, and Prosper. Celina and Prosper are in North Texas, and Fulshear is in Fort Bend County, outside of Houston.
Fulshear ranks as the No. 1 fastest-growing community, with a population increase of 237% from 2018 to 2023.
The report found the median household income in Fulshear was $178,398. The average home value in Fulshear was $521,157.
Up in North Texas, the population in Celina increased by 190% over that same time period, making it the second-fastest-growing affluent suburb in the United States, with a median household income of $155,875 and an average home value of $611,512.
Prosper came in at No. 3, with a population growth of 81%, a median family income of $187,603 and an average home value of $823,356.
Which other Texas suburbs made the list?
Other Texas cities that made the fastest-growing wealthy suburb list include Flower Mound, Southlake, University Park and Colleyville.
Flower Mound had a 6% population increase with a median household income of $157,737 and average home value of $599,026 from 2018 to 2023.
The population in Southlake changed by 0.66% and the median household income was $250,000. The average home value was $1.2 million.
University Park had a 0.60% population increase, a median income of $250,000 and an average home value of $2.3 million. for homes.
Colleyville had a -0.50% population shift, with a median income of $203,566 and an average home value of $886,166.
Which 10 wealthy US suburbs have the fastest population growth?
Fulshear, Texas
Celina, Texas
Prosper, Texas
Erie, Colo.
Clarksburg, Md.
Zionsville, Ind.
Redmond, Wash.
Dublin, Calif.
Parkland, Fla.
Eastvale, Calif.
