Texas dominates the list of fastest-growing cities, attracting more residents with its strong employment center, lower taxes, and more affordable housing, according to an article in Forbes.com.
For the second year in a row, Austin, Texas, topped Forbes’ list of America’s fastest-growing cities. The city has a projected economic growth rate of 6 percent a year through 2016, which is more than twice as much as the nation as a whole, according to Moody’s Analytics data.
In compiling its list of America’s fastest-growing cities, Forbes.com analyzed the 100 largest metro areas and reviewed projections for each city’s economic and population growth, median income, unemployment rates, and employment growth.
Here are the top 7 cities that made Forbes’ list of fastest-growing cities:
1. Austin, Texas
Annual economic growth projected from 2011-2016: 6.1 percent
Annual population growth rate: 2.8 percent
2. Dallas
Annual economic growth projected from 2011-2016: 5 percent
Annual population growth: 2.2 percent
3. San Jose, Calif.
Annual economic growth projected from 2011-2016: 4.7 percent
Annual population growth: 0.9 percent
4. Houston
Annual economic growth projected from 2011-2016: 6.1 percent
Annual population growth: 2 percent
5. Salt Lake City
Annual economic growth projected from 2011-2016: 4.4 percent
Annual population growth: 1.5 percent
6. Raleigh, N.C.
Annual economic growth projected from 2011-2016: 3.7 percent
Annual population growth: 3.8 percent
7. Seattle
Annual economic growth projected from 2011-2016: 3.7 percent
Annual population growth: 1.2 percent
Source: “Bigger in Texas: State has many of US’ fastest-growing cities,” Forbes.com (April 30, 2012)
