It seems nothing can stop Austin's growth. For the second year in a row, Austin is the No. 1 fastest-growing large city in America.
Personal finance website WalletHub just released its 2017 list of the fastest-growing cities in the U.S., with Austin topping growth among large cites, based on population and 14 other economic measures.
To determine where the most rapid local economic growth occurred over a seven-year period, WalletHub analysts compared 515 U.S. cities across 15 key metrics. The data ranges from population growth to college-educated population growth to unemployment rate decrease.
Austin stands out with the following stats: regional GDP growth (No. 12), growth in number of businesses (No. 13), median household income growth (No. 15), population growth (No. 17).
The Capital City comes in at No. 9 overall. It’s among four Texas cities in WalletHub’s overall top 10. The others are Frisco (No. 1), Midland (No. 5), and McKinney (No. 6). Notably, many of the highest-ranking cities on the WalletHub list, including Frisco, are suburbs, not urban centers.
“We’ve seen millennials flock to cities over the last decade, generating a lot of optimism about the future of urban areas, but as the oldest ones have school-aged children, we are also seeing a retreat to the suburbs,” Melanie Bowers, assistant professor of political science and public policy and administration at Rutgers University-Camden, tells WalletHub. “It is very hard for prime, working-aged people to stay in cities that don’t have good schools.”
Here are the other major metro cities in Texas that show up in the top 200:
14. Round Rock
31. League City
82. Grand Prairie
83. Fort Worth
110. San Antonio