Austin Makes Number 3 of America’s Fastest-Recovering Cities
Diversified industry and relatively stable housing give residents in these metros a measure of economic security.
Lone Star Luck
In No. 2 city San Antonio, home to four military bases, and Austin, our third-ranked city and the state seat of government, municipal jobs supplement Texas’ robust energy sector. In Dallas (No. 6), it’s a thriving tech industry that buffers it from energy highs and lows. Although Houston (No.is invested mostly in oil, it has diversified its energy industry beyond oil rigs into refining and chemicals manufacturing.
What’s more, the state’s housing prices never ascended to the unsustainable levels the rest of the country hit at the peak of the housing bubble. Thus, it didn’t crash as hard. These factors have toughened the local economy against a recession that is inextricably tied to real estate.
“Texas didn’t have as big of a boom,” says James P. Gaines, research economist at the Real Estate Center at Texas A&M University. “So we’re not having anywhere near the kind of bust.”
Top 5 Fastest Recovering Cities
1. Omaha-Council Bluffs, NE-IA Metro Area
2. San Antonio, TX Metro Area
3. Austin-Round Rock, TX Metro Area
4. Pittsburgh, PA Metro Area
5. Harrisburg-Carlisle, PA Metro Area
| Recovery City Ranking | MSA | GMP Rank | Unemployment Rank | Home Price Rank | Foreclosure Rank | Sales Rate Rank |
| 1 | Omaha-Council Bluffs, NE-IA Metro Area | 33 | 1 | 12 | 8 | 16 |
| 2 | San Antonio, TX Metro Area | 13 | 14 | 8 | 36 | 2 |
| 3 | Austin-Round Rock, TX Metro Area | 2 | 18 | 17 | 35 | 15 |
| 4 | Pittsburgh, PA Metro Area | 46 | 24 | 2 | 12 | 5 |
| 5 | Harrisburg-Carlisle, PA Metro Area | 51 | 23 | 37 | 3 | 32 |
| 6 | Dallas-Fort Worth-Arlington, TX Metro Area | 25 | 35 | 4 | 51 | 16 |
| 7 | Rochester, NY Metro Area | 47 | 30 | 22 | 9 | 18 |
| 8 | Houston-Sugar Land-Baytown, TX Metro Area | 53 | 40 | 1 | 43 | 32 |
| 9 | Raleigh-Cary, NC Metro Area | 22 | 42 | 32 | 22 | 30 |
| 10 | Baton Rouge, LA Metro Area | 58 | 14 | 9 | 15 | 75 |
| 11 | Little Rock-North Little Rock-Conway, AR Metro Area | 65 | 4 | 13 | 41 | 44 |
| 12 | Tulsa, OK Metro Area | 41 | 13 | 14 | 78 | 37 |
| 13 | Oklahoma City, OK Metro Area | 6 | 4 | 25 | 40 | 28 |
| 14 | Colorado Springs, CO Metro Area | 5 | 18 | 42 | 61 | 22 |
| 15 | Seattle-Tacoma-Bellevue, WA Metro Area | 18 | 51 | 77 | 19 | 5 |
| 16 | Buffalo-Niagara Falls, NY Metro Area | 33 | 38 | 5 | 5 | 44 |
| 16 | Syracuse, NY Metro Area | 30 | 31 | 6 | 2 | 40 |
| 18 | Madison, WI Metro Area | 25 | 3 | 38 | 13 | 79 |
| 19 | Nashville-Davidson–Murfreesboro–Franklin, TN Metro Area | 25 | 54 | 35 | 17 | 4 |
| 20 | Virginia Beach-Norfolk-Newport News, VA-NC Metro Area | 51 | 12 | 57 | 30 | 61 |
| 21 | Washington-Arlington-Alexandria, DC-VA-MD-WV Metro Area | 11 | 8 | 72 | 71 | 22 |
| 22 | Augusta-Richmond County, GA-SC Metro Area | 18 | 56 | 20 | 23 | 54 |
| 22 | Bridgeport-Stamford-Norwalk, CT Metro Area | 91 | 29 | 65 | 29 | 37 |
| 24 | Albuquerque, NM Metro Area | 15 | 28 | 59 | 25 | 66 |
| 25 | Boston-Cambridge-Quincy, MA-NH Metro Area | 18 | 46 | 50 | 31 | 29 |
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