The Wealthiest Town in Texas? Only 60 People Are Rich Enough To Live There
Ever wonder what the richest towns in Texas are? There's a few, but the wealthiest town of them all will surprise you.
In July of last year, Forbes compiled a list of 50 places in Texas that they ranked as 'the most rich' cities in the Lone Star state. And the results are really quite interesting. So, before we get to the richest town, it may be worth touching on several key factors in the ranking of these elite enclaves.
It's Relatively Easy to be Wealthy in Texas
Part of the allure of Texas to those who move here from California or other states is the lack of income taxes and it's "business-friendly" climate. The downside lies in the somewhat higher property taxes seen in Texas.
Measuring Wealth in Texas
In Forbes' study, the data was sourced from the Census Bureau. Forbes looked at four metrics in their calculations, including "median household income, mean household income, median home value, and median property taxes paid."
According to Forbes, the metric that was most useful to them was the mean income of these households.
And The Richest Town in Texas Is...
There's actually two answers to this!
The richest town in Texas with a population under 5,000 is Redfield, Texas.
This elite enclave is located in Nacogdoches County and has a population of only 60 people. It also takes the #1 slot on Forbes' list.
Redfield is a teeny tiny rural speck on the map that you really have to scour on Street View before you start spotting those big houses hidden away in the trees.
It is definitely the kind of place where the wealthy want to be left alone.
The richest town in Texas with a population over 5,000 is University Park.
Located in Dallas County, University Park has a population of 7,528 and comes in at #7 on Forbes list. The community is home to the insanely pricey Southern Methodist University.
This area is nothing but gargantuan houses of exquisite splendor for all to see. No matter your thoughts on wealth and the elite class--you cannot say that these homes are anything short of spectacular
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Gallery Credit: Sarah Clark