America’s wealthiest households are increasingly showing their disenchantment with mega cities such as New York City and Los Angles and are turning to smaller suburbs such as Dallas’ Southlake and University Park, according to a recent study.
The high standard of living represented by these two suburban communities reflects well on the city of Dallas and increases the likelihood of more high-end businesses locating here.
GoBankingRates, a recent household income study, lists the wealthiest American suburbs in 2024 and two Dallas suburbs were included in the top 15. Southlake took the No. 13 spot with a reported average annual household income of $360,078. The typical home here is, according to the report, worth over $1.24 million. University Park was listed at No. 6 with an average annual income per household of $381,235 and with homes typically valued at $2.6 million.
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Southlake, home to global technology giant Sabre, which is reputed to be one of the best companies in the nation to work for in 2024, offers med spas, high-end shopping and numerous great dining options. For its part University Park, which offers a variety of idyllic neighborhoods, boasts of excellent schools, eclectic architectural styles, and lots of parks and other green spaces.
The highest Texas suburb on the list and the only other one besides University Park to make it into the top 10 was West University Place, which placed at No.3.
