A height-adjustable industrial caster wheel includes a mounting plate, a swivel assembly that swivels relative to the mounting plate, and a spring housing that is movable relative to the swivel assembly. The mounting plate or the spring housing is secured to the swivel assembly, such that the relative position of the swivel assembly and either the mounting plate or the spring housing can be controllably altered to change the overall height of the height-adjustable industrial caster wheel. If needed, a locking mechanism can be used to maintain the relative position between the swivel assembly and the mounting plate or the spring housing. The height-adjustable industrial caster wheel can be adjusted by accessing the height-adjustable industrial caster wheel from above, eliminating the need to raise the pallet truck away from the floor to be able to access and adjust the height-adjustable industrial caster wheel.