Midland County Named Most Wealthy County in Texas
The only other Permian Basin county in the top 10 overall was Glasscock County which ranked sixth in the state.
But other Permian Basin counties ranked in the top 10 for per-capita investment income like Reeves county was third in per-capita investment income and third in per-capita income overall. Martin County ranked fourth in the state in both per-capita income and investment income.
Midland County also ranked 37th in overall wealth nationwide and 13th in per-capita income and per-capita investment income.
How did SmartAsset.com get its rankings? They compared all counties nationwide across three metrics, investment income, property value, and per-capita income. The combination of those metrics is how they got the wealth index for all U.S. counties.
Speaking of property value, the median home value in Midland was $279,569 according to the study. That put Midland County 20th in the state in that category. The median home value statewide was $154,965.
Just goes to show you that the oil industry is still making cash for people who work in it no matter what, and of course, the oilfield business owners usually live in Midland which also helps us to be the wealthiest county in Texas.
So how did the top five in Texas pan out? Here is how it went:
1. Midland County - Midland
2. Travis County - Austin
3. Kendall County - Boerne
4. Collin County - McKinney
5. Gillespie County - Fredericksburg
Statewide the average per-capita income was $55,129, and the average per-capita investment income was $12,090. So keep on making that money and making those investments and Midland County will be #1 for a few more years.