Though Austin is a very welcoming city and loves getting accolades, Austin residents were a little relieved to see Houston took over the fastest growing city title in 2015. Austin commuters are especially happy as that might give a little relief to the gridlock they see on a daily basis. Though Austin did not make the top spot, they came in at a very formidable #2, which for the size of our city is still some big shoes to fill.
What Data Was Considered to Compile the Fastest Growing Cities List?
Forbes looked at the 100 most populous Metro areas in the US and ranked each on 6 metrics:
- Estimated population growth for 2014
- Estimated population growth for 2015
- Year-over-year job growth for 2014
- 2014 gross metro product growth
- Federal unemployment data
- Median annual pay for college-educated workers
When the numbers were crunched, they came up with 20 top fastest growing metro areas. You can see the report here.
Austin Named #2 Fastest Growing City in the US
With a 2.52% population growth rate in 2014 and an expected 2.51% population growth rate expected for 2015, Austin will still be the new home for many. According to Forbes research, Austin also pulled in an impressive 3.14% job growth rate and held unemployment to 4.13%. Austin’s 2014 Gross Metro Product growth was 4.95% and median pay was $63,500.
Top 20 Fastest Growing Cities in the US
Given Texas’ strong population growth and low unemployment rate, it is no surprise Texas had the most number of cities on the list. Texas cities held all three top spots and made up half of the top 10. Fort Worth and San Antonio didn’t quite make the top 5, but they came in the top 10. Here’s how the rest of the list shook out.
- Houston, TX
- Austin, TX
- Dallas, TX
- Raleigh, NC
- Seattle, WA
- Denver, CO
- San Francisco, CA
- Fort Worth, TX
- Charlotte, NC
- San Antonio, TX
- Phoenix, AZ
- Salt Lake City, UT
- Orlando, FL
- Cambridge, MA
- Oklahoma City, OK
- San Diego, CA
- San Jose, CA
- Las Vegas, NV
- West Palm Beach, FL
- Nashville, TN
How Does Austin Compare to Other Fastest Growing Cities in Texas?
|City||Rank||2014 Pop Growth||Est 2015 Pop Growth||Job Growth Rate||GMPG||Unemp Rate||Median Pay|
GMPG = Gross Metro Product Growth Rate
Considering Relocating to Austin?
Though Austin is no longer the fastest growing city in the US or even Texas, it is certainly still the best! We relocated to Austin from San Francisco about 5 years ago and love it here. It is a nice blend of Texas, the South and California. If you’re looking for a city that’s pretty, unique and affordable, Austin might be your city too! Check out our Austin Relocation Blog and our Guide to Relocating to Austin for more tips and our experience relocating to Austin. When you’re ready to reach out, call us at (512) 827-8323, email us at info@11OaksRealty.com or fill out our Relocation Survey. We know the city better than a life long resident and can help you find the perfect part of town for you and your family.