Market Blog

Austin Ranks the No. 1 Best Place to Live for Second Consecutive Year

 

For the second year in a row, Austin, Texas, has been ranked the No. 1 best U.S. city to live, according to the recently released U.S. News & World report “2018 Best Place to Live.” This year’s list took into account a handful of factors to create an overall scorecard. Austin earned a 7.7 average ranking (out of ten).

The rankings were based off of 5 overarching topics: desirability, value, job market, quality of life and net migration. In addition, data from the United States Census Bureau, the Federal Bureau of Investigation and the Department of Labor were taken into observation, as well as U.S. News rankings of subtopics such as crime and quality of health care. For a detailed look into how the cities are ranked see “2018 Best Place to Live Methodology.

After replacing Denver, Colorado, for the No. 1 spot in 2016, the “Live Music Capital of the World” continues to improve and remain the best U.S. city to live in. Austin can credit its continuingly high quality ranking to a steady surge of individuals moving to the city and an improvement in the job market and quality of life scores. Music, art and film festivals play a role in the high quality of life ranking.

Furthermore, Austin is one of the fastest growing metro areas in the country, according to the report. With a population of 1,942,615, this positively impacts the local economy, despite its influence on the housing market. Nonetheless, no personal or corporate income tax, and a low state and local tax rate, keep the Austin housing market at a more reasonable level than its counterparts, such as San Francisco.

“A metro area’s population growth – reflecting where people are choosing to move over a five-year period – plays a key role in the rankings and was at least partially responsible for significant changes in the rank for places from the 2017 list to this year.”

Devon Thorsby | U.S. News and World Report

According to Austin’s U.S. News & World Report scorecard the city boasts an 8.9 in Desirability, 7.1 in Value, 7.4 in Job Market, 7.1 in Quality of Life and a 9.4 in Net Migration.

For a detailed look into the city of Austin, including information on weather, commute patterns and popular things to do, as well as tips for moving, see the original published report summary.  

[Via U.S. News and World Report]

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