America's Fastest-Growing Cities, by Forbes
Austin, Texas, has taken the top place on Forbes magazine’s annual list of America’s fastest-growing cities for the fourth year in a row. Forbes ranks the nation’s most populous metropolitan statistical areas (MSAs) based on six metrics: estimated rates of population growth for 2013 and 2014, year-over-year job growth for 2013, the rate of gross metro product growth for 2013, federal unemployment data and median salaries for college-educated workers. Two other Texas cities, Dallas and Houston, also made the top 10:
1. Austin, Texas, with an estimated 2.5 percent population growth rate in 2013 (the highest in the nation) and an economy that expanded 5.88 percent last year;
2. Raleigh, N.C., where jobs grew by 2.44 percent year over year;
3. Phoenix, which jumped a whopping five spots from 2013 and saw 5 percent year-over-year growth in construction jobs last year;
4. Dallas, which moved down a spot from last year but remains a growing hub for logistics and distribution, technology and support services like law and accounting firms;
5. Salt Lake City, which boasts a strong jobs market and an unemployment rate of 4 percent, the second best in the U.S.;
6. Denver, with a median salary for college-educated of $64,900 and an unemployment rate of 5.95 percent;
7. Ogden, Utah, with a growth rate of 2.05 percent and an unemployment rate of only 4.03 percent;
8. Charlotte, N.C., with a median salary of $61,900 and a growth rate of 1.93 percent;
9. Orlando, Fla., with a growth rate of 1.82 percent and an unemployment rate of 5.76 percent; and
10. Houston, with a median salary of $72,100 and an unemployment rate of 5.75 percent.
For the rest of the top 20, see “America’s 20 Fastest-Growing Cities” by Erin Carlyle, Forbes, Feb. 14.
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