By Natalie Wise
Forbes has released a list of metro areas in the United States to keep an eye on in 2014. Cities on the list show statistical merit in their economic outlook for the coming year. In other words, these metros are hot and are projected to grow even more in 2014.
The top 10 cities were chosen from the 52 largest metros across the country, based on data of the areas’ progress post-Recession.
The factors include: GDP growth, job growth, real median household income growth and current unemployment rates on the economic side of things. They analyzed factors that draw people to new areas: population growth, birth rate, domestic migration and change in educational attainment.
At the top of the list was Austin, Texas, at No. 1, joined by several other Texas cities on the list. San Antonio ranks No. 2, Houston ranks No. 4, and Dallas is No. 6.
The full list is as follows:
1.) Austin, Texas
2.) San Antonio
3.) Salt Lake City
5.) Nashville, Tenn.
8.) Oklahoma City
9.) Raleigh, N.C.
10.) San Jose, Calif.
Interestingly, only one of the cities on the list, San Jose, is on a coast.
Landlocked Oklahoma City has the second-lowest unemployment rate, with a 5.1 percent unemployment rate, with major industries such as aviation/aerospace, biotechnology and energy. San Antonio boasts the lowest unemployment rate at 4.4 percent.
Which cities do not have a positive economic outlook at the start of 2014? Cities including Detroit, ranked last at No. 52, Providence, R.I., and Cleveland, Ohio – all that experienced negative population growth and have fewer jobs than pre-Recession.
Las Vegas, at No. 51, was hit hard by the housing bubble and jobs are slow to rebound. High living costs knocked several cities out of the top 10, such as Seattle, Los Angeles and New York City.