Out of place with a $200K income? (Dallas, Plano: fit in, loft)

[RandMcNally]

On a recent relocation posting, someone referenced not wanting to move to an area where they'd feel out of place with less than a $200,000 annual income. What areas in/near Dallas would one be, perhaps, less welcomed without an income exceeding $200K and/or the spending habits that might accompany that level of income?

Additionally, in what Dallas-area schools/districts (public or private) might it be more challenging for students to "fit in" with a family income of less than $200K?

I realize that every neighborhood and school has a range of personalities and that for every snooty person there will probably be two lovely ones, but I think generalizations can be made about the ethos of most places--and typically with good reason.

Thanks for your insight.

[biafra4life]

with that kind of income, you would fit right in Highland Park. No one over there would be intimidated by your income, since they probably make that and more.

[DaveG99]

no one knows how much you make unless you tell them so dont worry about it.

[TurtleCreek80]

$200k (give or take $25k) is "average" median income in the Park Cities (Highland Park ISD), Southlake, Colleyville, parts of West Plano, and parts of North Dallas/ Preston Hollow. Anywhere that the average home price is over $600-700k, you are VERY likely to see family incomes over $200k.

Any private school where tuition is over $20k per year per child (so, most of the non-Catholic schools) would also be a place where family incomes would likely exceed $200k.

The difference between the schools and neighborhoods is the attitude about money. Is it a place where every 16-year-old gets a car or where they all get BMW's and Hummers? Is it a place where families travel the world or where they have second homes all over the world? Do the moms wear Antheolopogie or Oscar de la Renta? Are there more moms driving carpool or nannies? Are the BMW's 3-series or 7? Are the Benzes C class or S class? Are the perfectly decorated homes full of Pottery Barn or Jan Showers showroom? Subtle differences, but very telling to the culture of each neighborhood.

[Lakewooder]

Early Dead Relative is also a decorating choice cherished in Lakewood.

[jelf]

Which of those would you say is the most Oscar de la Renta/7 series/S Class and which would you say is the least?

Originally Posted by TurtleCreek80

$200k (give or take $25k) is "average" median income in the Park Cities (Highland Park ISD), Southlake, Colleyville, parts of West Plano, and parts of North Dallas/ Preston Hollow. Anywhere that the average home price is over $600-700k, you are VERY likely to see family incomes over $200k.

Any private school where tuition is over $20k per year per child (so, most of the non-Catholic schools) would also be a place where family incomes would likely exceed $200k.

The difference between the schools and neighborhoods is the attitude about money. Is it a place where every 16-year-old gets a car or where they all get BMW's and Hummers? Is it a place where families travel the world or where they have second homes all over the world? Do the moms wear Antheolopogie or Oscar de la Renta? Are there more moms driving carpool or nannies? Are the BMW's 3-series or 7? Are the Benzes C class or S class? Are the perfectly decorated homes full of Pottery Barn or Jan Showers showroom? Subtle differences, but very telling to the culture of each neighborhood.

[TurtleCreek80]

Originally Posted by jelf

Which of those would you say is the most Oscar de la Renta/7 series/S Class and which would you say is the least?

Highland Park (specifically Highland Park, not including University Park) and Preston Hollow.

[kazyn]

Can I borrow $20?

[ExcellentUserName]

Originally Posted by TurtleCreek80

$200k (give or take $25k) is "average" median income in the Park Cities (Highland Park ISD), Southlake, Colleyville, parts of West Plano, and parts of North Dallas/ Preston Hollow. Anywhere that the average home price is over $600-700k, you are VERY likely to see family incomes over $200k.

Any private school where tuition is over $20k per year per child (so, most of the non-Catholic schools) would also be a place where family incomes would likely exceed $200k.

The difference between the schools and neighborhoods is the attitude about money. Is it a place where every 16-year-old gets a car or where they all get BMW's and Hummers? Is it a place where families travel the world or where they have second homes all over the world? Do the moms wear Antheolopogie or Oscar de la Renta? Are there more moms driving carpool or nannies? Are the BMW's 3-series or 7? Are the Benzes C class or S class? Are the perfectly decorated homes full of Pottery Barn or Jan Showers showroom? Subtle differences, but very telling to the culture of each neighborhood.

I don't dispute the data for median income, nor that you will find the luxury goods you describe in those areas. But I would say that it will be the people making far higher than that who are buying their wives or themselves those Oscar De La Renta dresses as 2k-5k a piece. Ill be grossing 350k and wont be living that lifestyle. Not without over extending myself. You did a wonderful job contrasting the Highland park consumption pattern from the more common suburbs. But I think the 200k a year number is misleading. If 51% of the area made a million and year and 49% made 200k a year the median is still 200k. But it may be that the high level spending is confined to a highly visible minority within the community? Or the 200k is just their income, but doesn't reflect a very high net worth?

Im not sure, but I dont think 200k gets on to a 3/4 million dollar home, a closet full of true designer clothes, a top interior designer furnished home and his and hers 100k cars with private schooled children. Im thinking a number closer to 500k a year would be needed.

[TurtleCreek80]

Originally Posted by ExcellentUserName

Im not sure, but I dont think 200k gets on to a 3/4 million dollar home, a closet full of true designer clothes, a top interior designer furnished home and his and hers 100k cars with private schooled children. Im thinking a number closer to 500k a year would be needed.

$200k doesn't guarantee - or warrant- the interior designer/ personal shopper at Neiman's & Korshak kind of lifestyle. There are plenty of dual income couples in UP, Lakewood, PH, etc making $200k and driving Four Runners & 3-series and shopping at Ann Taylor Loft and Anthropologie. I am friends with many of them

But buying a home in an area where the average or median income is $200k+ can almost guarantee that more than a few of your kids classmates and your neighbors WILL have Aurora @ NM NorthPark on speed dial....and that is where the social pressure can be crushing if you can barely afford the home and then junior wants to go to Camp Longhorn with his best friends ($6k for a 3-week session).

I can think of many streets in the Park Cities and Preston Hollow where a $450k ranch (PH) or an $700k UP cottage (both perfectly do-able on a $200k income with a hefty down payment / gain off previous home) are literally 20 feet away from the $2M or $4M or $5M brand new home next door. Yes, you can afford to live there, but you may not be able to keep up with the neighbors.....and by "keep up", I'm not talking about matching their cars or summer vacations. I mean the everyday social things like accepting a dinner invitation to Bob's when you are living on a Taco Diner budget.