Houston makes top 10 list of metros with most millionaires

living large

Must be nice to have a seven-figure income. Photo via Getty Images

Anew population analysis has unveiled an exclusive view into how the elite live in the U.S., including a surprising discovery that Houston-The Woodlands-Sugar Land has the No. 9 highest concentration of millionaire households in the country.

The study by online real estate marketplace Point2Homes compared household data among millionaires in the 30 biggest U.S. metropolitan areas, including four Texas metros, between 2017 and 2022.

The report found that the number of U.S. households that earned at least $1 million a year more than quadruped within the five-year period, with the highest concentration of millionaire households located in the New York-Newark-Jersey City area across New York, New Jersey, and Pennsylvania.

There are just under 2,900 millionaire homeowners living across the Houston metro, making up 0.11 percent of all households in the area. The report revealed a majority (32.9 percent) of millionaires in Houston are actually Gen Xers, with the second highest share going to baby boomers (28.9 percent).

Most interestingly, the youngest generation, Gen Z, make up 15.4 percent of all millionaire households in Houston, with millennials making up 21.5 percent, according to the report. But the Gen Z percentage is misleading; as the report clarifies, there aren't actually that many Gen Z millionaires walking among us in H-Town.

"Instead, this high share is most likely almost entirely due to the people aged 15 to 24 who are still living with their (millionaire) owner parents," the report explained. "Unfortunately, living in a millionaire owner household does not a millionaire owner make — but it does come with some serious perks."

Physicians make up Houston-The Woodlands-Sugar Land millionaires' main occupations across all age groups, the study also found.

This is how Houston's millionaires live
The saying goes, "Go big or go home," and Houston's millionaire homeowners are taking that to heart when it comes to their own lavish households.

The report discovered the typical home owned by a millionaire in Houston-The Woodlands-Sugar Land is a five bedroom, nine total-room house, with an average assessed value of $1,466,682. As for wheels, a Houston-based millionaire is likely to have less than three vehicles (2.8) on average.

By comparison, the average value for a millionaire homeowner's abode in San Francisco-Oakland-Berkeley, California is $2,816,196, the highest amount out of all 30 U.S. metros in the report.

Big, expensive homes don't come without big costs to maintain them, the report reminds. And when it comes to managing finances for wealthy earners, making more money doesn't necessarily mean they'll be saving that income.

"Rather, it just means bigger homes with bigger mortgages and maintenance expenses; more cars; much costlier schools; and more over-the-top lifestyles, which simply bite bigger chunks out of the family's big budget," the report said. "However, despite the 'risks,' most of us would probably choose to have rich people problems. Or, as the saying goes, crying in a Ferrari might just feel better than crying in a Toyota when all is said and done."

Millionaire lifestyles across Texas
In a comparison of all Texas metro areas, Houston-The Woodlands-Sugar Land claimed the highest share of millionaire homeowners statewide. Dallas-Fort Worth-Arlington took the No. 2 spot, while Austin-Round Rock-Georgetown rounded out the top three. San Antonio-New Braunfels took No. 4 in the statewide analysis.

Dallas-Fort Worth-Arlington was right behind Houston in the national standings, ranking No. 10, with nearly 2,650 millionaire households situated in the Metroplex. DFW's millionaires are mainly chief executives and legislators, or physicians. Gen Xers (44.1 percent) make up the highest share of the metro's millionaires, with baby boomers (24.7 percent) not too far behind.

Austin-Round Rock-Georgetown, however, fell to No. 24 in the national ranking with only 749 millionaire households calling the Texas Capital home. Austin's millionaires are mainly chief executives and legislators, or other types of high-level mangers. Gen Xers (34.9 percent) make up the highest share of the metro's millionaires, with millennials (30.8 percent) not too far behind.

San Antonio-New Braunfels ranked at the bottom of the study at No. 29, above Pittsburgh, Pennsylvania. There were only 414 millionaire households in the metro area between 2017-2022, and a majority of them (38.4 percent) were Gen X physicians.

The top 10 metros with the highest share of millionaires in the U.S. are:

  • No. 1 – New York-Newark-New Jersey City, New York-New Jersey-Pennsylvania
  • No. 2 – Los Angeles-Long Beach-Anaheim, California
  • No. 3 – San Francisco-Oakland-Berkeley, California
  • No. 4 – Boston-Cambridge-Newton, Massachusetts-New Hampshire
  • No. 5 – Washington-Arlington-Alexandria, D.C.-Virginia-Marland-West Virginia
  • No. 6 – Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin
  • No. 7 – Miami-Fort Lauderdale-Pompano Beach, Florida
  • No. 8 – Seattle-Tacoma-Bellevue, Washington
  • No. 9 – Houston-The Woodlands-Sugar Land, Texas
  • No. 10 – Dallas-Fort Worth-Arlington, Texas

The full report and its methodology can be found on point2homes.com.

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This article originally ran on CultureMap.

According to a new report that identifies the Top 10 states to which Gen Zers are moving, Texas was the runaway winner. Photo via Getty Images

Texas is the No. 1 destination for Gen Zers on the move, study says

by the numbers

A new population analysis by real estate marketplace Zillow has pegged the Lone Star State as the No. 1 destination for adults born between 1996 and 2004 – also known as Gen Z.

Using data from the 2022 U.S. Census Bureau, the report identifies the Top 10 states to which Gen Zers are moving, and Texas was the runaway winner – far outranking No. 2 destination, California, with 76,805 Gen Z movers, versus California's 43,913.

Reasons for moving vary, but the report says young adults from 18 to 24 years old may prefer to live in states with high performing job markets, especially in a place like San Antonio where one of the nation's top employers resides. San Antonio is also a great place for remote work, according to estimations by Forbes.

Favorable weather also may play a factor in the high migration of Gen Z'ers, the report suggests. Texas' mostly year-round sunshine makes it more attractive to younger crowds who are looking for fun activities around the state, not to mention the advantageous impact on dating opportunities.

Other top states with high influx of Gen Z movers include Washington (No. 5), which added over 33,500 Gen Z movers in 2022, and Colorado (No. 6) with less than 31,000 new Gen Z residents.

Their least favorite destination was Michigan, and the Northeast also ranked poorly, with four New England states – Vermont, Rhode Island, New Hampshire, and Maine – all in the bottom 10.

State with a high cost-of-living like Washington, Colorado, and Virginia (No. 7) are places where young adults are more likely to have a bachelor's degree, work in tech, or serve in the military, according to Zillow principal population scientist Edward Berchick.

However, becoming a homeowner is much more difficult, as the report found 77 percent of the Gen Z workers in these states are renters.

"Gen Z movers are likely drawn to the job opportunities in these states, despite the higher costs of housing," Berchick explains. "They may also be in a stage of life where they're willing and able to be flexible in their standards of living while starting their careers."

The top 10 states for Gen Z movers are:

  • No. 1 – Texas
  • No. 2 – California
  • No. 3 – Florida
  • No. 4 – North Carolina
  • No. 5 – Washington
  • No. 6 – Colorado
  • No. 7 – Virginia
  • No. 8 – Illinois
  • No. 9 – Georgia
  • No. 10 – Arizona

The full report can be found on zillow.mediaroom.com.

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This article originally ran on CultureMap.

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TMC expands Korea BioBridge, welcomes 12 biotech companies to Houston

welcome to hou

The powerful partnership between Texas Medical Center (TMC) innovation and the world of Korean biotech advancement is already growing in scope. Just six months after the new TMC Republic of Korea BioBridge was first announced, 12 new companies from the Republic of Korea will establish on-site presences in Houston to further collaboration between the two nations and medical industries.

The expansion comes from a new agreement between TMC and the Korea Health Industry Development Institute (KHIDI). William McKeon, president and CEO of Texas Medical Center, applauded the move and predicted it would benefit both Houston and Korea immensely.

“Korea has established itself as a global leader in biohealth innovation, with a growing pipeline of breakthrough technologies across digital health, biotechnology, and medical devices,” McKeon said in the news release. “Through the TMC Korea BioBridge, we are creating a direct connection between Korea’s innovators and the world’s largest medical city. This collaboration between TMC and KHIDI provides companies with a place to establish a presence, build strategic relationships, engage with leading clinicians and researchers, and accelerate the path toward commercialization and patient impact in the United States.”

The companies that will be in residence at the TMC Innovation Factory include Ardens Lifescience, whose new CAROL device is currently in human trials tackling lung cancer by using the airway network as electrodes to perform bronchoscopic ablation; stem cell-based gene therapy firm CELLeBRAIN, currently working on neurological disorders and solid cancers; and Wellysis, the developer of the S-Patch wearable cardiac monitoring device.

Additional companies include:

  • Antigravity
  • ARPI
  • CTCELLS
  • elecell
  • HUVER Inc.
  • Hutom
  • ORGANOIDSCIENCES
  • YOUTH BIO GLOBAL
  • Seoul Medical Informatics Intelligence Lab Inc.

“This collaboration establishes a strong foundation for connecting Korea’s biohealth innovation ecosystem with world-class clinical and innovation resources in the United States,” Younghun Jeong, executive director of the KHIDI, added in the news release. “Through partnerships with Texas Medical Center and the Korean-American Medical Association Texas, we look forward to fostering meaningful collaboration among innovators, clinicians, and industry leaders while creating new opportunities for clinical validation, commercialization, and global growth. KHIDI remains committed to expanding global partnerships that support biohealth innovation, clinical collaboration, commercialization, and international growth.”

This is the seventh international strategic partnership for the TMC. It launched its first BioBridge with the Health Informatics Society of Australia in 2016. It launched its TMC Japan BioBridge, focused on advancing cancer treatments, last year. It also has BioBridge partnerships with the Netherlands, Ireland, Denmark and the United Kingdom.

24 Houston-based companies named best places to work by U.S. News

Best Places to Work

A new U.S. News & World Report ranking of the best employers has named 95 Texas companies among the best companies to work in the South, and two dozen of them are based right here in the Houston metro.

U.S. News' prestigious "2026-2027 Best Companies to Work For" ratings examine 3,900 public and privately owned companies across 14 industries to help employees and job seekers make decisions about workplaces that may be a good fit.

Each company is rated on a scale of 1-5 across six metrics: quality of pay and benefits; work-life balance and flexibility; job and company stability; physical and psychological comfort; belongingness and esteem; and career opportunities and professional development.

"Job seekers' definitions of 'best' evolve with their needs," said Carly Chase, vice president of Careers at U.S. News. "From new grads in the AI era and seasoned pros seeking a career change, to HR leaders researching organizational trends, the ratings are a central hub that highlights businesses that U.S. News found effectively support their staff."

The number of employers headquartered in the Houston area that made the cut for 2026-2027 has skyrocketed over previous years. A total of 24 local public and private companies made the list this year, up from 16 companies in 2024 and 11 in 2025.

The highest concentration of top employers is located in Houston proper (20), followed by two companies in The Woodlands and one each in Kingwood and Spring.

A few familiar names Houstonians will recognize include petroleum corporation Occidental (Oxy), oil and gas giant Chevron, electrical engineering and manufacturing company Powell Industries, and home builder David Weekley Homes.

Here are the remaining best Houston-based companies to work for:

  • PROS, Houston
  • EOG Resources, Houston
  • Targa Resources, Houston
  • TechnipFMC, Houston
  • Cheniere, Houston
  • DXP, Houston
  • Comfort Systems USA, Houston
  • Corebridge, Houston
  • Baker Hughes, Houston
  • KBR, Houston
  • CenterPoint Energy, Houston
  • Phillips 66, Houston
  • S&B, Houston
  • Cornerstone Home Lending, Houston
  • Farouk, Houston
  • Hines, Houston
  • Insperity, Kingwood
  • HPE, Spring
  • Sterling Infrastructure, The Woodlands
  • LGI Homes, The Woodlands
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This article originally appeared on CultureMap.com.

Venus Aerospace closes $91 million Series B to scale hypersonic engine

flight funding

Houston-based Venus Aerospace has closed a $91 million Series B round and plans to scale the production of its hypersonic engine.

The round was led by Houston-based Mercury Fund with participation from Lockheed Martin Ventures, MESH, PEAK6, Draper Associates, Starboard Star Venture Capital, Green Sands Equity and other investors, according to a news release.

The investment comes about a year after Venus completed the first U.S. flight test of its high-thrust rotating detonation rocket engine (RDRE). The engine is expected to enable vehicles to travel four to six times the speed of sound from a conventional runway and is about 15 percent more efficient than traditional alternatives, according to the company.

Venus Aerospace says the latest round of funding will allow it to move the RDRE from demonstration to deployment and meet customer requirements for the near-term defense and space industries. The company says that the reusable RDRE is designed with a "common propulsion architecture" that can work for multiple industries and mission types.

“This financing marks an important step in moving Venus from breakthrough demonstration to scaled capability,” Sassie Duggleby, co-founder and CEO, said in the news release. “Our customers need propulsion systems that go farther, can be produced reliably and are built on supply chains they can trust. We are advancing that capability with American engineering and manufacturing talent to strengthen U.S. defense, expand space access and support the future of high-speed flight.”

Venus Aerospace raised a $20 million Series A in 2022, led by Wyoming-based Prime Movers Lab. At the time, the company said it would put the funding toward three main technologies: a next-generation rocket engine, aircraft shape and leading-edge cooling system.

The company also picked up an investment from Lockheed Martin Ventures, the investment arm of aerospace and defense contractor Lockheed Martin, in November 2025—in addition to funding from other investors over the years.

“Since our initial investment, Venus has progressed very quickly in its technology development," Chris Moran, vice president and general manager of Lockheed Martin Ventures, added in the release. "Our reinvestment in Venus recognizes Venus’ accomplishments to date and focus on speed to manufacture, cost management and reduction of supply chain constraints. Venus is working effectively to position its propulsion system for the production scale required by defense programs.”

"Venus is exactly the kind of company Houston capital should be backing," Blair Garrou, co-founder and managing partner at Mercury Fund, added in the release. "It combines multiple frontier technologies, domestic manufacturing and clear commercial and national security relevance. We believe this team is positioned to lead an important new chapter in defense and space, and we are proud to support a company building breakthrough technology here in Texas."

Venus Aerospace and Houston clean tech startup Vaulted Deep were named to the World Economic Forum's Technology Pioneers community earlier this summer. Read more here.

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