Austin ranked #1 on a list of cities most likely to boom over the next 10 years
According to a study done by Forbes, Austin was ranked #1 on a list of cities most likely to boom over the next 10 years. In fact, Texas as a whole, made up of half of the list. It’s no secret that Texas is great, economy is doing well, the weather is great, and its not expensive to live here.
The study was conducted based on different factors. Based on eight metrics indicative of past, present and future life. The percentage of children in the population, the birth rate, net domestic migration, the percentage of the population aged 25-44 with a bachelor’s degree, income growth, the unemployment rate, and population growth.
Austin has experienced double-digit job growth in the past 5 years and only continues to grow. Another factor in the study was income growth. Austin sits well above the national average. Austin has a large demographic of educated millennials and household families.
Lastly, the unemployment rate. This is a huge factor in not only Austin but in Texas as a whole. The unemployment rate in Texas is tremendously lower than everywhere else. With major corporations moving to Austin there is a high demand for educated young professionals.
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