Affluent San Antonio suburb cashes in as richest city in Texas

This affluent San Antonio suburb cashes in as richest city in Texas

By John Egan Jan 15, 2020

Terrell Hills is less than seven miles from downtown San Antonio. Forget Beverly Hills. Move over, Manhattan.

One San Antonio suburb is cashing in as the richest city in Texas. A new list from data provider HomeSnacks ranks Terrell Hills as the richest place in Texas with at least 5,000 residents. The company analyzed four factors to arrive at that conclusion: poverty rate, median household income, and unemployment rate, as well as "where the richest of the rich live."

Terrell Hills, with a population of 5,425 as of July 2018, boasts median household income of $175,913, a 1.2 percent unemployment rate, and a 0.7 percent poverty rate, according to the HomeSnacks ranking, released January 11. Terrell Hills also topped HomeSnacks’ 2019 list of the richest cities in Texas.

Last year, review website Niche.com also named Terrell Hills the best place to live in Texas, based on categories such as public schools, local housing, cost of living, diversity, and walkability. In 2016, Terrell Hills, just five miles northeast of downtown San Antonio, was named one of the country’s most expensive suburbs.

Real estate website Zillow says the median price of homes currently on the market in Terrell Hills is $699,000, well above the median home price of $230,600 for the San Antonio metro area. One other San Antonio suburb makes the list of the state’s richest cities.

Ninth-ranked Fair Oaks Ranch has median household income of $125,806, a 2 percent unemployment rate, and a 3.6 percent poverty rate, according to HomeSnacks. It’s about 28 miles northwest of downtown San Antonio. Zillow says the median price of homes currently listed for sale in Fair Oaks Ranch is $464,450.

Here are the 10 richest cities in Texas, as determined by HomeSnacks.

1. Terrell Hills (San Antonio) 2019 rank: 1 Median household income: $175,913 Unemployment rate: 1.2 percent unemployment rate Poverty rate: 0.7 percent

2. Bellaire (Houston) 2019 rank: 2 Median household income: $201,629 Unemployment rate: 2.4 percent Poverty rate: 1.7 percent

3. Highland Park (Dallas-Fort Worth) 2019 rank: 25 Median household income: $207,019 Unemployment rate: 2.3 percent Poverty rate: 2.7 percent

4. Melissa (Dallas-Fort Worth) 2019 rank: 5 Median household income: $113,532 Unemployment rate: 1.4 percent Poverty rate: 0.3 percent

5. West University Place (Houston) 2019 rank: 3 Median household income: $250,001 Unemployment rate: 2.9 percent Poverty rate: 1.7 percent

6. Trophy Club (Dallas-Fort Worth) 2019 rank: 6 Median household income: $142,483 Unemployment rate: 2.5 percent Poverty rate: 2.4 percent

7. Willow Park (Dallas-Fort Worth) 2019 rank: Not ranked Median household income: $119,511 Unemployment rate: 2.3 percent Poverty rate: 2.1 percent

8. Southlake (Dallas-Fort Worth) 2019 rank: 4 Median household income: $230,700 Unemployment rate: 3 percent Poverty rate: 2.2 percent

9. Fair Oaks Ranch (San Antonio) 2019 rank: 7 Median household income: $125,806 Unemployment rate: 2 percent Poverty rate: 3.6 percent

10. Coppell (Dallas-Fort Worth) 2019 rank: 13 Median household income: $123,802 Unemployment rate: 2.5 percent Poverty rate: 3.2 percent