Austin Leads Big City Growth Post-Recession

September 29, 2015by Brian Talley

austin hills luxury homesAustin is the number one big city in the United States for its economic growth since the recession, according to a WalletHub study of the fastest growing economies. Compared to cities of all sizes, Austin came in ninth and Round Rock came in tenth.

Austin topped large cities, categorized as more than 300,000 people in city proper, with a score of 67.91 out of 100. The Texas cities of Fort Worth and Corpus Christi came in at third and fifth, with Houston in tenth and San Antonio in eleventh. Miami was second, and Denver was fourth.

Among mid-size cities of 100,000 to 300,000 people, Round Rock was seventh, and among overall competitive rankings, 13 of the top 15 cities were in Texas. Austin also topped the list of large cities with the most growth.

DowntownAustin6thWalletHub scored 515 cities based on “Socio-Demographic Landscape” and “Jobs & Economic Environment,” mostly from data from 2008 to 2014 from the U.S. Census Bureau, the U.S. Bureau of Labor Statistics, and the Bureau of Economic Analysis. Metrics included population growth, the rate of decrease in unemployment, median household income growth, growth of regional GDP per capita, and ratio of full-time to part-time jobs increase, among others.

The goal of the study was to determine how U.S. cities have fared since the recession that began in 2008.

The study cited the U.S.’ lowest population gain since the Great Depression. While the 1990s, a time of prosperity, saw a population growth rate of five percent, the U.S. had only a .73 percent population growth rate in 2014. The study also shows how population numbers have shifted across states, creating short- and long-term effects on local economies.