Economy | News | Real Estate

Austin Ranks #1 Best Place to Live in the U.S. for 2nd Year in a Row

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Austin held the #1 spot on the U.S. News and World Reports 2018 edition of the 100 Best Places to Live in the U.S.A. rankings for its second year in a row after taking over Denver. This year the Austin metro area received an overall score of 7.7 while Colorado Springs followed with a score of 7.6. Interestingly enough, Austin’s overall score dropped from 7.8 to 7.7, but it was still enough to beat out the others.

What are the rankings based on?

The U.S. News report is intended to help people make an informed decision when considering a new place to live and bases their rankings on U.S. Census Bureau’s statistics, Federal Bureau of Investigation’s crime statistics, Department of Labor’s wage and economic data, which is categorized into these 5 indexes:

  • Job market – the strength of the job market
  • Value – how comfortably the average resident can afford to live
  • Quality of Life – how satisfied residents are with their daily lives
  • Desirability – whether or not people want to live there
  • Net migration – whether people are moving to or away from there

Each category is analyzed using a methodology of weighting select preferences determined by what Americans believe are the most critical factors when considering making a move or relocation.

What makes Austin #1 back to back years?

With Austin currently averaging a net increase of 150 people per day it remains one of the fastest-growing cities in the country for relocation. The consistent population growth is one of the biggest factors making Austin the best place to live with net migration and desirability its highest scoring categories at 9.4 and 8.9 respectively. Following Net Migration and Desirability, were Job Market at 7.4, and both Value and Quality of life at 7.1. It is expected that net migration will continue to remain high, as economists predict the metro will more than double in the next 40 years.

Ready to Make the Move?

Whether you are considering relocation or a local move, please reach out and let us know how we can help you with your real estate needs.

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