Austin’s Rocket-Ride to Economic Supremacy Graphed
There surely isn’t a person in Austin who questions that this is far and away the best city in the state. Support of that sentiment has come in the Austin Chamber of Commerce’s monthly Economic Indicators report. Journalist Colin Pope authored a report in the Austin Business Journal about the recent economic news and included a graph from the Chamber’s report. Austin’s economic growth is charted out along with those of Dallas, Houston, San Antonio and Fort Worth. The difference is staggering.
Austin’s economic growth rate checks in at a whopping 42 percent between 2010 and 2013, while Dallas and Houston showed a 25 percent growth rate. Fort Worth and San Antonio had economic increases at 21 and 20 percent, respectively. The data used to create the graph was pulled from the Federal Reserve Bank of Dallas and shows broad movements in economies. Specific areas of growth that were considered include employment activity, fluctuations in wages and retail sales.
For the real estate market in Austin, this means that the city is providing a strong economic environment where newcomers are able to finding a healthy job market along with affordable homes for sale. More information about Austin’s economic health is available at the Fed’s online archive.