When the Commerce Department reported Wednesday on the economic growth of certain metropolitan areas across the U.S. in 2014, The Wall Street Journal was quick to note a common theme among these boomtowns: the energy sector! All of them are major centers for mining and other energy-related natural resources.
So it’s not surprising that half of the top 16 cities on the list are in Texas.
Holding the top slot is Midland, which saw its economy grow 24.1% from 2013 to 2014, sunstantially driven by mining. It’s the same story in nearby San Angelo, which is next on the list with 11.4% growth.
Of course, one of the main reasons that people relocate is for work, so you might want to check out our list of median-price homes in the top 10 cities with the fastest-growing economies.
Economic growth: 8.5%
Median household income: $59,530
Median list price: $272,000
Economic growth 2013–2014: 21.4%
Median household income (in 2014, from the U.S. Census): $55,814
Median list price (from realtor.com August 2015 data): $250,000
San Angelo, TX
Economic growth: 11.4%
Median household income: $43,143
Median list price: $194,000
Economic growth: 9.9%
Median household income: $96,803
Median list price: $298,000
Economic growth: 6.7%
Median household income: $50,107
Median list price: $236,000
Get more real estate news from Realtor.com, original blog: http://www.realtor.com/news/real-estate-news/commerce-department-new-home-sales-september-2015/