Affluent Fort Worth neighbor cashes in among richest U.S. communities
The quiet, mansion-strewn enclave of Westover Hills is one of the wealthiest cities in the country, a new study confirms. Fort Worth’s wealthy neighbor is one of the wealthiest suburbs in the United States.
RenoFi, a home renovation loan marketplace, examined data for more than 600 suburbs in 50 major US cities to compile a list.
The data shows that Westover Hills has an average household income of $ 228,750. The four overlying suburbs have average household incomes of at least $ 250,000, with the Mission Hills suburb of Kansas City, Kansas City taking the top spot.
Two other suburbs of Dallas-Fort Worth also make the top 10:
# 8 University Park with a median household income of $ 214,477.
Highland Park # 10 with a median household income of $ 207,019.
The RenoFi study shows that the median household income in Westover Hills increased by 26.1 percent from 2017 to 2018, placing it in fifth place among the more than 600 suburbs examined for growth.
The city also recorded an increase in the average home price of 21.1 percent during this period, making it 10th in this category.
Westover Hills is an exclusive 455 acre enclave with fewer than 600 residents. On his website, Fort Worth real estate agent Tim Young describes Westover Hills as “ground zero” for oil and cattle families in Fort Worth in the 1930s and 40s.
“More like the Hollywood Hills than a typical Fort Worth neighborhood,” says Young, “the place has a certain sense of old money that was once very bold and young.”
It is one of the country’s “Million Dollar Cities”, as described by the real estate platform Zillow in January. The city achieved this award thanks to a typical home value of $ 1,677,514 in November. Unsurprisingly, University Park ($ 1,468,731) and Highland Park ($ 1,695,262), along with Westlake ($ 1,752,752), are part of Westover Hills.
RenoFi collected data on Westover Hills, University Park, and Highland Park as part of a study of the most livable suburbs in the United States. While these three communities rank high for prosperity, they couldn’t get into RenoFi’s list of the top US suburbs. The ranking also took into account factors such as the property tax rate, the unemployment rate and the crime rate.
“One of the most important aspects of finding the perfect home is the neighborhood,” said Justin Goldman, co-founder and CEO of RenoFi, in a press release. “In this report, we’ve looked at some of the most important factors that contribute to what makes a good neighborhood.”
RenoFi’s crown for the most livable suburb is the Druid Hills suburb of Atlanta. It is followed by the Washington, DC suburbs, Falls Church and Pimmit Hills, both in Virginia; Melrose, Massachusetts, near Boston; and Pleasant Ridge, Michigan, near Detroit.