U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Texas > Dallas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-14-2009, 09:22 AM
 
Location: Plano, TX
857 posts, read 2,064,913 times
Reputation: 774

Advertisements

So, where does the area being measured begin & end? One of my friends bought a place in Keller and I would assume that area has expensive housing & high incomes. It's hard to argue that Southlake is a Dallas burb, but Keller isn't ... I really consider both Fort Worth suburbs.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-14-2009, 09:33 AM
 
Location: The Big D
14,874 posts, read 38,726,670 times
Reputation: 5787
Quote:
Originally Posted by PlanoGirl View Post
Interesting...

How is it that Highland Park has the highest median home value but one of the lower median household incomes? Is that because it is an "old money" area, lots of homes are owned by retirees, lots of home that have been passed down in the family, or something else? Just curious
Quote:
Originally Posted by FarNorthDallas View Post
It's like that every year. I always wondered why, too. Older retirees in Highland Park? Do they have wealth, but not wage income? I don't know.
Quote:
Originally Posted by jobert View Post
75225 is UP, but states it's Dallas. just an observation. I agree with the theory about income in HP.
This total may be the amount they cashed out of their investments for "living expenses" and keep in mind that "Old Money" doesn't tend to have mortgages.

The 90K was most likely cashed out of a seven-figure nest egg, and declared as "capital gains" to the IRS.
You have several different reasons for this. As several have mentioned you have the retirees and the "old money" so they don't have the BIG income or the BIG mortgage. How some areas with a LARGE amount of wealthy people can go unnoticed in surveys like this is because these are the people w/ MANY different ways to have an "income" without it being a direct PERSONAL income. Most people w/ any amount of money have trusts set up and living family trusts. Their assets may be protected in a trust. The family homestead could be in the name of a trust. Their incomes could come from a variety of areas if they own a business. They would have their individual personal income that is what gets reported on their personal income tax. Then they will have all of their commercial/business assets in a trust, joint venture, LLC, LLP, etc and they get an income from that but it doesn't show up as much on their PERSONAL income. If all of this was stripped away and one could see the REAL assets and dollars there might be a lot of people in for a surprise. Some of the areas on these surveys would drop like a rock and other areas not seen as much by some as "affluent" would quickly rise to the top.

Most of these areas at the top of this survey are simply people that make a decent and good living and live in a nice middle to upper-middle income area. They don't own businesses and corporations so they don't have any other "income" to report. Those that live in the "real" affluent areas have more means to "protect" their assets and kind of keep them on the lowdown. They also have a variety of areas that an "income" comes to them. They have the perks and bonuses of being in a position of having someone to make sure their "estate" and assets are protected. Try this, go pull up some streets in the Park Cities and Lakewood that have a high dollar value in real estate on Dallas Central Appraisal District and see how many of the "owners" are listed as a trust.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2009, 10:02 AM
 
Location: Lake Highlands (Dallas)
2,395 posts, read 7,974,608 times
Reputation: 1036
75205 starts at Fitzhugh. It's not just HP, where as Southlake is a bit of an island.

Personally, I don't get the fascination with this sort of "statistic" which is pretty meaningless. My ZIP isn't anywhere on that list, yet our personal household income is above that of even Southlake. We chose to invest heavily into retirement rather than status of a ZIP code. We'll see who retires early and who has to work into retirement to maintain their lifestyle.

Brian

Last edited by lh_newbie; 07-14-2009 at 10:17 AM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2009, 10:17 AM
 
Location: Lake Highlands (Dallas)
2,395 posts, read 7,974,608 times
Reputation: 1036
Jobert - correct, updated my post to Fitzhugh. Neat ZIP code map here for Dallas:

//www.city-data.com/zipmaps/Dallas-Texas.html

HP includes many SMU students and some apartments. I think Southlake is primarily large single family homes.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2009, 11:00 AM
 
Location: The Big D
14,874 posts, read 38,726,670 times
Reputation: 5787
Quote:
Originally Posted by lh_newbie View Post
Personally, I don't get the fascination with this sort of "statistic" which is pretty meaningless. My ZIP isn't anywhere on that list, yet our personal household income is above that of even Southlake. We chose to invest heavily into retirement rather than status of a ZIP code. We'll see who retires early and who has to work into retirement to maintain their lifestyle.

Brian

EXACTLY!!! Same here. I went back and looked at the incomes of the top 5. Got'em all beat as do several neighbors. I don't need to live in the prestigious zipcode to have a good life. We have been looking at retiring on later than 50 if not sooner. Heck, some days I'd swear hubby IS retired. Those are the days he is around here doing nothing and I'm like, "don't you have a job or something"

You are right it is pretty meaningless as I've already said, most of those zipcodes are full of people that work for someone else. A few might not but the majority do and don't really have a lot of control over their own destiny when it comes to job location and such. There are other areas with a lot more money but the people that live there fly under the radar because of the way their assets and income are arranged.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2009, 11:13 AM
 
3,633 posts, read 7,626,347 times
Reputation: 4902
Hey, don't knock your DH! I KNOW he works. I've seen him visiting a customer on a Friday night in an emergency.

Which reminds me, I have an invoice to pay.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2009, 11:22 AM
 
Location: The Big D
14,874 posts, read 38,726,670 times
Reputation: 5787
Quote:
Originally Posted by MurphyPl1 View Post
Hey, don't knock your DH! I KNOW he works. I've seen him visiting a customer on a Friday night in an emergency.

Which reminds me, I have an invoice to pay.
LOL!!!! He even made an emergency call on Father's Day after church this year. I went with him as the good dutiful wife.

That was funny though. He comes home asking me if I know you and how. LOL!!!!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2009, 01:08 PM
 
12,401 posts, read 23,835,444 times
Reputation: 11548
I have no stats to prove this, but have always thought that 8,000 SMU students in UP/HP (which I believe has a population near 30,000) really skews the averages for both zips 05 and 25.

Last edited by TurtleCreek80; 07-14-2009 at 01:09 PM.. Reason: Spelling!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2009, 01:23 PM
 
16,092 posts, read 37,769,212 times
Reputation: 6292
Good explanation mom -- yeah most of the old money folks try to hide their income while the new money folks like to show it off and exaggerate it..
75225 also covers the old Preston Hollow estate area and goes over to my final resting place, Hillcrest Cemetery.

As far as SMU students, one of my friends gives her daughter a $3,000 per month allowance plus a credit card - I think that's insane. And she bought her a $550,000 home in the M-Streets area.

75206 M-Streets are valued around $450,000 and 75214 Lakewood is valued around $550,000 for the average home prices according to the Ron Burch's monthly Advocate statistics.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2009, 06:32 PM
 
6,585 posts, read 23,545,093 times
Reputation: 3219
Quote:
Originally Posted by Big G View Post
I would also guess that list extends far beyond the top 25 ZIP codes listed.
No, the Dallas Business Journal only does the top 25. I wish they did more. I love meaningless statistics.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Dallas
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 02:44 AM.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top