File 2007 / DMN
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SOUTHLAKE - Beverly Hills may have the ritzy reputation. But Southlake's got the money.
Southlake residents have the highest median household income in the country, according to U.S. Census Bureau figures released today. And to reinforce this display of North Texas affluence, two other area cities rank in the top 10.
A middle-of-the-pack household in the northeast Tarrant County suburb pulls down $172,945 a year, according to the American Community Survey. University Park ranked seventh with $151,418. Colleyville's median salary of $148,789 was ninth.
"You certainly don't want to be No. 1 in crime rate, and this is about as far from that as you can get," said Southlake Chamber of Commerce president Giovanna Phillips.
The survey is the first since the 2000 census to provide demographic and socioeconomic data on U.S. communities between 20,000 and 65,000 in population. Smaller, potentially wealthier communities, like Highland Park, aren't included.
It also marks the second time a North Texas community has received such a distinction: Plano was crowned the wealthiest large city in America this summer. But some 400 smaller cities on the new list outrank Plano.
University Park Mayor Blackie Holmes said affluence contributes to his city's quality of life. But it doesn't paint a complete picture.
"Wealth doesn't reflect the character or heart or goodness of the people," he said.
"This is a great place to live, and I wouldn't live anywhere else."
Southlake has received attention in recent years for its award-winning schools, championship football teams and successful Town Square development.
It's also been the subject of envy, featured recently in a D Magazine story titled "Why You Should Hate Southlake."
Southlake Mayor Pro-Tem John Terrell said he doesn't view the ranking as positive or negative.
It simply reflects a city that has attracted top professionals and business owners with high incomes.
"It's just a bunch of data," Mr. Terrell said. "Really you don't know too much about a community until you dive into it."
Bernard Weinstein, an economist at the University of North Texas, said he had underestimated Southlake's wealth.
The Census data showed the city of 26,224 with more than triple the median income for Texas, $46,248, and the nation overall, at $50,002.
Dr. Weinstein said cities such as Southlake and Colleyville have essentially zoned themselves into wealth by requiring large homes on large lots that only the prosperous can afford.
Both cities have little if any multifamily housing or commercial development, he said.
Frisco and Plano, also viewed as affluent, have broader development bases and more diverse populations.
"There are poor people in Plano; there are homeless people in Plano; there are apartments," Dr. Weinstein said.
In Plano, officials took pains to distance themselves from its swankiest city title.
But Ms. Phillips, the Southlake chamber official, said she embraced it.
"It's nice to have recognition, period," she said.
The Census release is based on surveys that will replace the long-form questionnaire distributed every ten years.
Officials say the survey is less precise than the 10-year snapshot but provides more timely information.
The information can be accessed beginning today at census.gov.
