Economy | News | Real Estate

Austin Is America’s Fastest Growing City for Third Year


Read time: 2 minutes

For the third year in a row, the esteemed Forbes Magazine has named Austin America’s Fastest Growing City. With population on a constant rise and businesses from startups to mega corporation brances springing up left and right, Austin is a hot destination to grow your roots.

The mighty higher-education powerhouse we so love and cherish is just one reason so many startups and mega corporations love being in the Lone Star State’s Capital. With 51,000 students at The University of Texas, there is a huge talent pool for businesses.

The State of Texas welcomed almost 430,000 people from August 2011 to July 2012. From these numbers it’s no surprise that three other Texas cities made the top 10 including Houston, Dallas and San Antonio. Forbes attributes Texas’ great success to robust labor markets, unemployment rates well below the national average (under 6%), no state income tax, strong population inflows, and a business-friendly regulatory environment.

Six metrics were assessed in searching through 100 of the most populous Metropolitan Statistical Areas (MSAs) to find the Fastest Growing Cities in America:

  • Population Growth for 2012 – 2.8%
  • Population Growth for 2013 – 2.7%
  • Rate of Job Growth in 2012 – 3.1%
  • Rate of Gross Metro Product Growth (Economic Growth) in 2012 – 6.3%
  • Federal Unemployment Data – 4.9%
  • Median Salaries for Local College-educated Workers – $63,200

Top 20 Fastest Growing Cities

  1. Austin, TX
  2. Houston, TX
  3. Dallas, TX
  4. Raleigh, NC
  5. Salt Lake City, UT
  6. Seattle, WA
  7. Provo, UT
  8. Phoenix, AZ
  9. San Antonio, TX
  10. Portland, OR
  11. Washington, DC
  12. San Jose, CA
  13. San Diego, CA
  14. San Francisco, CA
  15. Boise, ID
  16. Denver, CO
  17. Oklahoma City, OK
  18. Charlotte, NC
  19. Bakersfield, CA
  20. Ogden, UT

To find out more about why Austin, TX and other cities made the Top 20 Fastest Growing Cities in America, visit Forbes.com.

Related links

INSTAGRAM

Pin It on Pinterest