ZIP code 76005 is home to part of the large master-planned community of Viridian, where the median household income in 2022 was $191,250.
ARLINGTON, TEXAS — Editor's note: This article was originally published on Click here for the article published in Dallas Business Journal.
Move over, Highland Park.
You've been knocked down a notch on the North Texas rich list by a city neighborhood known more for roller coasters, tailgate parties, and autoworkers than mansions, McLarens, and billionaires. .
Arlington's ZIP code overtook Highland Park on the Dallas Business Journal's annual list of the metroplex's wealthiest neighborhoods based on median income.
The city of Southlake in Tarrant County remains No. 1 on this year's list, marking its sixth consecutive year at the top. Colleyville, also in Tarrant County, remained in second place.
But this year, North Arlington's 76005 ZIP overtook Highland Park and University Park, which are bordered by Dallas, for the No. 3 spot. This is the first time that Arlington's ZIP code, which is experiencing a rapid increase in new housing construction, has been included in the ranking.
This rise in rankings may surprise many longtime North Texas residents, but Arlington Mayor Jim Ross is not one of them.
“It's location, location, location,” said Ross, who has proudly lived in the city he now leads for 40 years. “We are located in the heart of the Dallas-Fort Worth area.”
In addition to being centrally located, Arlington is equally inconvenient for both Dallas and Fort Worth, as residents of the big city sometimes complain – Arlington is close to the Dallas Cowboys, Texas Rangers, and Six Flags over Texas. It is the home base of Nicknamed the “American Dream City,” Arlington is the headquarters of homebuilding giant DR Horton (tagline: “America's Builder”). General Motors' largest SUV factory is located in the city, with more than 5,000 auto workers assembling vehicles such as the Chevrolet Tahoe, GMC Yukon and Cadillac Escalade. The suburb is also home to a number of other global, national and family-owned businesses.
That's good for all of Arlington. But what specifically drives much of the wealth in her 76005 postal district in Arlington is the active lifestyle on her 2,000 master-planned acres that has generated a lot of interest among Tarrant County residents. His community, the Viridians.
Surrounded by five large lakes and 500 acres of open space, Viridian offers a connection to the outdoors, relatively close to retail, businesses and medical clinics, and minutes from Dallas-Fort Worth International Airport.
With more than 4,900 people living in the 76005 zip code and a growing population, residents can expect to earn a median income of more than $191,250 to live comfortably, according to the most recent 2022 data from the Census Bureau. ing.
Dallas Business Journal obtained data from the 2022 American Community Survey's five-year estimate of inflation-adjusted median household income in dollars.
Includes neighborhoods within Collin, Dallas, Denton, and Tarrant counties, ranked based on median household income.
This year's list features 200 ZIP codes and includes data on median household income, per capita income, median home price, and percent of adults 25 and older with a bachelor's degree. It is.
viridian rising
Conceived by twin brothers Donald and Phillip Huffines, grandsons of a well-known car dealer, Viridian broke ground in 2012 with development company JCKPL LLC in the lead.
However, it has withstood several business cycles. Between the economic pressures of the housing boom, the coronavirus pandemic, changing interest rates, inflation and lack of supply, it's been more up and down than any other time for Six Flags.
Developers were struggling to work around the wet terrain where Viridian sits across from the landfill. Some in Arlington questioned whether the project was sustainable in such an environment.
But thanks to the tenacity of JCKPL president Robert Kembel, the rest of the development team, and the builders, Viridian finally became a reality. The building was purchased in 2015 by Johnson Development Corporation, a Houston-based residential and commercial land development company.
Viridian consistently ranks among the top 50 best-selling emerging neighborhoods in the country on RCLCO, a national real estate data and consulting firm.
The $2 billion Viridian community offers a variety of housing types, including townhomes, single-family homes, zero-lot homes, 55+ active living, and custom homes. Prices range from about $370,000 to about $2 million, according to Redfin data. As of February, the median home price in Viridian hovered around $491,000.
“People with disposable income [Viridian] Arlington City Manager Trey Yelverton happens to like the flexibility this location brings to the entire region.”
The wealth concentrated in 76005 will help build “the tax base for our future,” Yelverton said. But growth also means demand for more services, he added.
Arlington leaders hope to leverage the new wealth and real estate activity into further redevelopment and support community priorities. Because the city is running out of open space, city leaders want to see new investment in areas such as the north side near Six Flags, near downtown and near the University of Texas at Arlington campus.
