Austin-Round Rock metro area tops list of best performing US cities in new report

The Austin-Round Rock metropolitan area is performing well — the best, to be exact, according to the Milken Institute’s 2024 Best-Performing Cities list.

The Milken report has been published annually since 1999 and ranks cities on a variety of metrics, including job creation, wage growth, and output growth. Designed to help the public and private sectors evaluate and compare cities throughout the nation, the list is particularly handy for Realtors, job recruiters and site selectors.

How did other Texas metro areas rank?

• No. 1: Austin-Round Rock, TX
• No. 2: Dallas-Irving-Plano
• No. 3: Fort Worth-Arlington
• No. 4: San Antonio
• No. 5: Houston

Austin ranks No. 1 in wage growth

Austin ranked No. 1 in wage growth (73.1%) between 2017 to 2022, according to the Milken report. Metro areas are ranked in between Tier 1 (top-ranked cities) and Tier 5 (low-ranked cities), where higher tiers offer high wages, jobs, and other potential growth — making them economic attractions for the state. 

Here’s how other Texas cities ranked:

• Dallas (Tier 1): 14.5%
• Fort Worth (Tier 2): 12%
• San Angelo (Tier 2): 4.5%
• San Antonio (Tier 2): 8.3%
• Houston (Tier 3): 7.5%
• El Paso (Tier 3): 6.8%
• Tyler (Tier 2): 7%
• Wichita Falls (Tier 4): 0.9%

What other factors are considered? 

According to the Milken Institute, this year’s rankings took two new factors into consideration: income equality and resilience defined as a city’s ability to withstand severe weather and economic turmoil.