Austin Ranked #1 in 2024 Best Performing Cities in America

The U.S. economy has indeed shown resilience and growth despite challenges such as ongoing inflation and rising interest rates, with metropolitan areas playing a central role in driving this expansion.  Based on the latest report of Milken Institute, “In 2022, the US labor market added more than 6 million jobs, 90.7 percent of which were in metropolitan areas.  Although metros continue to drive the nation’s growth, the geographic distribution of this growth has changed.” 

Austin ranked #1 among large metro areas in Best Performing Cities in 2024.  The report said, “Austin-Round Rock’s rise to the top was buoyed by its labor and market performance, with the metro area ranking first in five-year job and wage growth.  A robust and growing technology sector has bolstered the metro’s remarkable growth in employment and wages.  High-tech output increased 62.4 percent in Austin-Round Rock between 2017 and 2022, placing the metro area eight in five-year high-tech gross domestic product (GDP) growth and seventh in high-tech GDP concentration.  The metro’s technology expansion has been fast and balanced : Austin-Round Rock ranked fourth among large cities in high-tech diversification, with 15 well-established high-tech industries.” 

To get the result of this ranking, the Milken Institute gathered information from 403 metropolitan areas (divided into 200 largest cities and 203 small cities), divided into five tiers based on their performance.

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