Austin is in the city-growin’ business, and right now, business is a-boomin’.
That is, according to a new study on boom towns in Magnify Money, which named Austin as America’s No. 1 boom town.
What is a boom town, you ask? Magnify Money defines it as a place where people “migrat[e] to…build new lives through new opportunities.”
or the study, Magnify Money looked at how much each metro area studied has changed between 2011 and 2016, based on three categories: industry growth, population/housing increase and employment opportunity increase.
“Austin jumps way out ahead of all the metros we reviewed, showing the greatest five-year growth in population and housing, earning a perfect Population & Housing score of 100,” Magnify Money’s study says.
What’s more, Austin earned the highest Workforce & Earnings score of all boom towns studied, and came in second for business growth.
Other Texas metro areas performed well in the study, too. Four of the Top 10 boom towns are located in Texas, with Dallas ranking at No. 7, San Antonio at No. 9 and McAllen at No. 10.
Scranton, Pa., Syracuse, N.Y. and New Haven, Conn. all landed at the bottom of the list.