Frisco Racks Up a 'Surprising' and Envious New No. 1 Title
By Victoria V. Valdez of The Dallas
Frisco is laying claim to a new No. 1 title.
It's the nation's top city in terms of the gap between residents' median household income and the rest of the state, according to an analysis by personal finance website GoBankingRates.
Frisco’s median household income of $120,701 is more than twice as much as Texas’ $57,051. That $63,650 difference makes it the highest among 188 U.S. cities studied.
The website called its analysis: “Most surprising cities to live in if you want to make a lot of money.” It examined cities with more than 50,000 households.
“Frisco is the best city to live in if you have your sights set on big bucks but want to avoid living in an urban center,” GoBankingRates said.
So who are Frisco’s top competitors? Just look south and east.
Neighboring cities McKinney and Plano rank second and third, respectively. McKinney’s $87,608 median household income is $30,000 more than the state’s. Plano’s difference of $31,527 is actually higher than McKinney’s, but it was dinged for being a more expensive place to live.
“McKinney ... manages to nab the No. 2 spot because it offers cheaper homes for sale and is slightly less expensive to live in compared to Plano,” according to the analysis.
Frisco's median home value is $396,500, according to real estate site Zillow.
Besides median household income, GoBankingRates examined each city’s cost of living, median home prices, labor force participation rates and state income taxes. Cost of living and median home prices were given extra weight in the ranking.
Other North Texas cities earning spots in the top 25 are Grand Prairie (7th) and Fort Worth (13th). Austin was the only other Texas city to make the list, coming in 11th.
Frisco can stack its new trophy next to one it received last year, when Money named it the best place to live in the U.S.
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