Survey rates city’s wealth
The study, based on data from the 2008 U. S. Census Bureau’s American Community Survey of cities with a population of above 75,000, put Grand Prairie at 320 out of 420 cities in the survey.
Portfolio.com/bizjournals used a six-part formula to determine the relative affluence of each city:
- Per capita income.
- Median household income.
- Percentage of households with annual incomes of $200,000 or more.
- Upper 20 percent threshold for household income.
- Median home value.
- Upper 25 percent threshold for home value.
The formula adjusted median home value and upper 25 percent threshold to dampen the impact of any housing bubbles that may have over inflated property values in upper-income communities.
Ratings of other area cities are:
Dallas – 215
Irving – 252
Arlington – 257
Fort Worth – 302
Garland – 312
Mesquite – 323
Collin county cities were among the top 100 wealthiest cities in the nation with Frisco in the 27th spot followed by Plano (42), Allen (75), and McKinney (85).
Grand Prairie City Manager Tom Hart said of the survey, “Areas of Grand Prairie can aggressively compete with cities deemed ‘affluent’. And, Grand Prairie offers lots that most cities can’t, such as great location, the best parks system in the nation, friendly, ‘front-porch’ citizens, hometown atmosphere, fantastic entertainment choices, a strong business base and jobs. We are full of great attributes that surveys like this don’t measure.”
