While the Austin area continues to be a haven for California companies and residents fleeing ever-rising taxes, business costs, and home prices, local officials and business leaders have expressed no desire for Central Texas to evolve into the “new” Silicon Valley.
The report points out that the Austin area’s economic engine runs on more than tech, mentioning examples such as medical research, healthcare, travel, recreation, and a “thriving music scene.” Mixed together, these create “a recipe for a diverse, stable long-term growth model for Austin,” the report says.
“The Most Dynamic Metropolitans” measured key data and ranked 379 metropolitan areas across the United States. The top 10 metropolitan areas for economic performance are:
Midland has the highest gdp per capita in the nation due to oil money. But that’s going to change, because of Tesla. Since Tesla is in the Bay Area, they really should rank both SF and SJ metros as 1 and 2.
A Zillow-backed survey of economists and housing analysts predicted that in 2020, Texas’s relatively affordable big cities (Houston, San Antonio, Dallas, and especially Austin) will outperform the market average in home value growth, while overpriced California metros like San Francisco, Sacramento, and Los Angeles will fare poorly.
