With so many jobs being created in the state, it’s no wonder Texas is leading the way in fastest-growing cities in the nation.
The cities are categorized by Metropolitan Statistical Areas, or as Forbes describes “cities and their surrounding suburbs, as defined by the U.S. Office of Management and Budget.” Dallas’ ranking also included Plano and Irving while Houston included Sugar Land and Baytown for example.
Dallas’ credentials were as follows:
3. Dallas, Texas
MSAD: Dallas-Plano-Irving, TX
2014 Population growth rate: 1.98%
2015 (Projected) pop. growth rate: 2.04%
Job growth rate: 4.1%
2014 Gross Metro Product Growth: 2.46%
Median pay: $67,500
Erin Carlyle of Forbes.com used a system that compiled America’s most populous cities, ranking these places on six metrics.
“Using data from Moody’s Analytics, we considered estimated population growth for 2014 and 2015, year-over-year job growth for 2014, and 2014 gross metro product growth (in other words, the metro area’s economic growth rate),” Carlyle writes.
“We also considered federal unemployment data. Finally, we factored in median annual pay for college-educated workers in each area, using data from Payscale.com. The result is a list of the 20 fastest-growing metro areas in America in terms of local population and economy.”
Texas had five cities on the list, which was the most of any state, and all of the cities were in the top 10. Houston, Austin and Dallas were followed by Fort Worth (No. 8) and San Antonio (No. 10) to give Texas half of the cities in the top 10.
Texas’ positioning in the rankings were aided by strong population growth and unemployment levels under 5 percent, Carlyle writes.
To see the complete list of America’s top 20 fastest-growing cities according to Forbes, click here.