Houston reigns as the richest city in Texas and one of the richest cities in the U.S., a new study shows.

The study, published by residency and citizenship consultant Henley & Partners, indicated Houston was home to 81,800 millionaires as of December 2024, 210 centi-millionaires ($100 million-plus), and 16 billionaires.

Nationally, Houston ranks fifth as a U.S. hub for millionaires, due primarily to wealth tied to the energy industry. The study said the number of millionaires in Houston grew 75 percent from 2014 to 2024.

“America’s energy capital, Houston, is a global leader in engineering and aeronautics. It is also home to 24 Fortune 500 companies — the third-highest number among U.S. cities, after New York and Chicago,” the study noted.

Dallas sits in sixth place on the list, and Austin lands in 10th place. Texas is the only state with three millionaire hubs in Henley & Partners’ top 10.

Here’s the rundown for Dallas and Austin:

• Dallas — 72,400 millionaires, 135 centi-millionaires, and 16 billionaires. Millionaire growth rate from 2014 to 2024: 85 percent.
• Austin — 32,000 millionaires, 90 centi-millionaires, and 10 billionaires. Millionaire growth rate from 2014 to 2024: 90 percent.

The study pointed out that Dallas “has seen very strong wealth growth over the past two decades, driven in part by the relocation of several major corporate headquarters to the city. Prominent companies based in the Dallas-Fort Worth area include AT&T, CBRE, Caterpillar, American Airlines, Charles Schwab, and Texas Instruments.”

Here’s the study’s take on Austin:

“With its booming tech sector, Austin has been dubbed ‘Silicon Hills.’ Several major tech companies have moved their headquarters to the city over the past decade, most notably Tesla. Texas’s low state taxes add to Austin’s appeal. While wealth growth in the city has slowed over the past couple of years, it remains very impressive when viewed over the past decade as a whole.”

On a separate Henley & Partners list, Houston holds the No. 5 spot for the most centi-millionaires in the U.S. Dallas ranks seventh and Austin ranks 12th.

New York City tops the overall list, boasting 384,500 millionaires, 818 centi-millionaires and 66 billionaires.