Forbes ranks AUSTIN best city for the value

Posted on October 20, 2008. Filed under: -- Austin Related | Tags: , , , |


By Molly Greaves

As an Austin Business Journal member, I have access to all of their postings. Here’s one I thought you’d enjoy.

 

 

Forbes ranks Austin best city for the value

When it comes to getting the most for your money, Texas appears to have a lock on the country.

The state’s four biggest cities are among the top 10 on Forbes magazine’s list of the best bang-for-your-buck places in the United States. And garnering the top spot—where the magazine says one’s money goes the farthest—is Austin.

San Antonio is ranked No. 2 on the list and Houston and Dallas rank 4th and 7th respectively.

According to Forbes, “residents of both [Austin and San Antonio] enjoy affordable housing and promising prospects for job growth in coming years.”

Andrew Gledhill, an economist at Moody’s Economy.com told Forbes that “Texas, as a whole, is one of the few economies that’s performing extremely well because of the energy and technology sectors.”

The worst city for the value this year was Los Angeles, followed by Providence, R.I.; New Orleans; Philadelphia; and Cleveland.

To rank the list, Forbes looked at projected job growth through 2012 in the 40 largest metro areas. Researches then calculated the ratios between each city’s median home price and median income and compared that to Moody’s cost of living index. Other factors included gas prices in each city and year-over-year inflation growth.

Click here to see the full Forbes story.

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2 Responses to “Forbes ranks AUSTIN best city for the value”

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I heard a lot about Austin and it is indeed good to live there. Except maybe during the summer, when it is wet and hot.

(sorry, I misspelled my website address)


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