Where the wealthy live
Elite Dallas enclave makes bank as 4th richest small town in U.S., report says
This Charles Dilbeck-designed home at 4144 Shenandoah St. is a University Park jaw-dropper.
University Park packs some new prestige into its compact 3.73 square miles, ranking No. 4 on a new list of the wealthiest small towns in America.
The number crunchers at GoBankingRates.com analyzed income data from the U.S. Census Bureau for towns with 500 to 15,000 households across the country to come up with the richest small towns in every state (except Alaska, due to insufficient data), ranked from lowest to highest income. The report was released June 11.
With a median income of $247,045, University Park ranked the richest small town in Texas and the fourth richest in the United States. It was the only U.S. city in the top five that was not on the East or West Coast.
Joining University Park in the top five were:
- No. 5: Flower Hill, New York (median income: $246,533)
- No. 4: University Park, Texas (median income: $247,045)
- No. 3: Fox Chapel, Pennsylvania (median income: $247,930)
- No. 2: Noroton, Connecticut (median income: $248,125)
- No. 1: Orinda, California (median income: $248,984)
"When you think of richest locations in the U.S., places like San Francisco, New York and Beverly Hills might come to mind. But prosperity and affluence aren’t only thriving among the glitz and glamour of big cities," the study's author says. "Instead, pockets of wealth can be found in the nation’s quieter communities and small towns. And for some, living in a small town can be the best financial decision ever."
University Park might not be what most people consider a "small town." The idyllic enclave is bordered on the south by Highland Park and on the north, east, and west by Dallas. It is home to just over 25,000 people and currently has a median listing home price of $2.3 million, according to Realtor.com.
Residents of University Park neighborhoods like Idlewild, Preston Place, and Caruth Hills tout its architectural variety, excellent schools, ample parks and green spaces, and proximity to hot spots like Highland Park Village and (of course) SMU.
