They say that surrounding yourself with successful people will make you more successful. Good news Frisco – you’re on the right track!
HomeSnacks (via Newsbreak) used the most recent census to see where the richest of the rich call home, and Frisco ranked third overall behind Centennial, Colorado and Cary, North Carolina. The site’s methodology behind finding the richest cities looked at how many residents live in poverty, income ranking and the percent of unemployed.
The census showed that most people who live in Frisco make at least $100,000 annually with the population sitting just above 188,000. The study compared 306 cities that have at least 100,000 residents.
But when money moves into town prices go up. The cost of living in Frisco is 1.2x higher than the national average. According to Best Places, the average home in Texas costs around $243,600, while the average home in Frisco costs a staggering $509,200.
But Frisco’s wealth isn’t the only appealing factor. The unemployment rate is at a low 3.7% with a 4% poverty rate. Frisco’s crime rate is almost 55% below the national average, with property crime being the most common in the area.
If you can’t afford to live in Frisco don’t sweat. McKinney and Plano were ranked highly as well: McKinney sat high at 12th place with residents making an average of $100,775, and Plano came in at 19th place with an average income of $96,348.
Unfortunately with every rich city there must be a poor. HomeSnacks determined the poorest cities in the U.S. are Detroit, Michigan. and Cleveland, Ohio.
The Dallas Cowboys are considered the richest team in the NFL, so it makes sense their home is one of the richest cities in the U.S. Keep bringing home the bacon, Collin County.