Austin, TX Among Most Recession-Resistant Cites
Recently, financial technology company SmartAsset analyzed 264 of the largest cities across the country to identify the most recession-resistant cities in the U.S., and Austin, TX came in at number five.
In addition to Austin, three other Texas cities also made the top five: Frisco (#1), Plano (#3), and Denton (#4).
In the article, Nadia Ahmad, CEPF of SmartAsset, outlined the key metrics contributing to Austin’s top five ranking:
“Austin, Texas ranks within the top 11% of the study in each of the categories we considered. Specifically, it ranked 13th-best for employment, 29th-best for housing and 26th-best for social assistance. Austin also holds top-15 rates for individual metrics in each of those categories. In terms of employment, its 2018 labor force participation rate is 10th-highest in the study, at 74.0%. In terms of housing, the average home value in Austin increased by almost 10% during the Great Recession. Finally, Austin ties for the 15th-lowest percentage of the population relying on public assistance, at approximately 1%.”
To learn more about other cities on the list and the data and methodology used by SmartAsset, please see the original article.