Texas Dominates the List of America’s Fastest-Growing Affluent Suburbs

A recent study by GoBankingRates.com has revealed that Texas surpasses California in the number of affluent suburbs and is home to the majority of the nation’s fastest-growing wealthy communities. The personal finance company’s analysis identified 30 of the richest suburbs in the U.S., with Texas claiming seven spots—three of which have experienced the most rapid population growth.

The rankings were determined using various economic indicators, including property values, livability scores, household income, and more. Data was sourced from Federal Reserve Economic Data, the U.S. Census American Community Survey, the Bureau of Labor Statistics Consumer Expenditure Survey, and the Zillow Home Value Index. While Texas secured the top position, California followed closely in second place.

The report found that Texas is home to the top three fastest-growing affluent suburbs: Fulshear, Celina, and Prosper. While Celina and Prosper are located in North Texas, Fulshear lies in Fort Bend County, just outside Houston.

Fulshear ranked first, with its population surging by 237% between 2018 and 2023. The study reported that the median household income in the area was $178,398, while the average home value stood at $521,157.

Celina, located in North Texas, experienced a 190% population increase during the same period, making it the second-fastest-growing wealthy suburb in the country. The median household income was reported at $155,875, with an average home value of $611,512.

Ranked third, Prosper saw its population expand by 81%. The suburb had a median household income of $187,603 and an average home value of $823,356.

Other Texas suburbs that made the list of rapidly growing affluent communities included Flower Mound, Southlake, University Park, and Colleyville.

Between 2018 and 2023, Flower Mound recorded a 6% population increase, a median household income of $157,737, and an average home value of $599,026. Southlake saw a modest population change of 0.66%, but its median household income was among the highest at $250,000, with an average home value of $1.2 million.

University Park experienced a 0.60% population growth, with its median household income also at $250,000. The area had the highest average home value among Texas suburbs on the list, reaching $2.3 million. Colleyville, meanwhile, saw a slight population decline of 0.50%, but it maintained a strong median income of $203,566 and an average home value of $886,166.

The study highlights Texas’ growing prominence as a hub for affluent communities, reinforcing its appeal as a prime destination for high-income households seeking both prosperity and rapid growth.

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