Where Do the Most Millionaires Live in Texas?

Texas is known for lots of things, but oil and cattle are BIG ones. Those two industries create a LOT of wealth for businesspeople in the Lone Star State, but what city do the majority of them call 'home'?

According to Starlocalmedia.com, the majority of Texas' wealthiest residents live in Houston, Dallas, and Austin, which are also among the wealthiest cities in the United States.

After a quick bit of research, I found that as of April 2024, Austin had 32,700 millionaires, and 10 billionaires. Dallas had 68,600 millionaires, and 15 billionaires. But Houston had 90,900 millionaires, and 18 billionaires, making it the wealthiest city in Texas in all three categories!

Why these cities in particular? Well, they have more to offer than other Texas cities. Lots of shopping, high end dining, large private airports for their fancy jets, top-rated schools, high-paying major employers and lots of recreation opportunities.

There's also and interesting caveat that I read about when looking up info for this article...West University Place is 'technically' the richest city in Texas with a median household income of $250,000+. But, it's actually inside the inner loop of Houston, so it's kind of a gray area since West University Place IS an incorporated city, it's just considered more of a neighborhood to everyone who lives there.

While West University Place is the richest city in Texas with a population of OVER 5,000, the richest city with a population UNDER 5,000 is Redfield, which has a population of 117 and a per capita income of $315,634! Holy cow!

The folks in Austin are doing pretty well too with the most millionaires in the state. Austin's millionaire population more than doubled from 2012 to 2022, reaching 30,500 millionaires by 2023...and it just keeps growing!