Economic Trends

How North Texas cities stack up against nation for income equality

How North Texas cities stack up against nation for income equality

According to a new survey, North Texas is home to one of the best cities for income equality. Using statistics from the Brookings Institution, Nerdwallet.com ranked Frisco No. 5 out of 50 for income equality.

The survey took into account 303 U.S. cities with a population of at least 100,000 and created an "income equality ratio" by comparing the mean income of the highest-earning 20 percent of residents to the mean income of the lowest-earning 20 percent.

The median household income in Frisco is $111,687, with the lowest earners bringing in just $32,665 compared to the highest 20 percent of Frisco earning $260,066. Although the highest-earning households make nearly eight times more than the lowest-earning families, other cities are actually much worse.

"Frisco has experienced tremendous growth — the city’s population grew by 247 percent in the last decade," Nerdwallet reports. "Its strong income ratio and extremely high median household income are signs of a healthy economy."

To add more low-income housing options in Frisco, the Inclusive Communities Project opened North Court Villas in 2013. Frisco's income equality ranking was not impacted by Section 8 housing, however, as this survey uses data from 2007 to 2012.

West Jordan, Utah, took the top spot on the survey, followed by Thornton, Colorado, and Surprise, Arizona. No other Texas cities fell in the top 10; however, outside of that were Round Rock (No. 16), Carrollton (No. 21), Garland (No. 27), Mesquite (No. 32), Grand Prairie (No. 40) and Odessa (No. 49).

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CORRECTION: An earlier version of this article erroneously stated that Frisco was ranked No. 5 in income inequality. We have updated the story with the correct information.

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Frisco is the best city in Texas for income equality. SimplifyYourMoney.com