In economic numbers released this week, Austin (and several other Texas cities) came out on top of the top economies in the United States for October 2013. Though not surprising to those of us who live in Austin and have seen the explosive growth, this report helps us quantify.
Economic Study Looked at 102 Metros and 18 Economic Factors
The On Numbers Economic Report looked at 102 United States metro areas and measured 18 economic factors. Austin had a 5.2% unemployment rate, 10.96% five year private sector job growth and 3.47% one year private sector job growth rate. On average, weekly earnings of an Austin employee were $919.12 and the 5 year earnings growth rate was 14.85%.
Austin Home Appreciation Numbers Up 7.85%
Another piece of this study was home appreciation numbers. Austin’s home values were up 7.85% in year over year numbers, matching what we’ve seen in our Austin Real Estate Price Reports. Combine an area with low unemployment, growing jobs and low cost of living and it is not surprising we saw such a jump.
Top 5 United States Metro Economies
Rounding on the top five for the top five US metro areas with the best economy are two other Texas cities, Dallas/Fort Worth and Houston.
- Dallas/Fort Worth, Texas
- Provo, Utah
- Houston, Texas
- San Jose, California
Thinking of Relocating to Austin?
Whether your company is looking to relocate you to Austin or you are just looking for a change of pace yourself, Austin is a great city to live. We relocated here from San Francisco a few years ago and couldn’t be happier with our choice. Check out our Guide to Relocating to Austin and our Austin Real Estate Homes Blog for more tips. Then, check out our Austin Home Buyer Program to learn how we can help make your move as smooth as possible. Then call us at (512) 827-8323 or email us at info@11OaksRealty.com to schedule a no obligation consultation.