Houston returns to top 5 on economic health index
Houston is back among the top five markets in the Business Journals’ latest analysis measuring the economic health of major metropolitan areas, after slipping down the list in recent months.
Houston took the No. 5 spot in the Business Journals’ On Numbers Economic Index for July, up from No. 6 a month earlier. Since the analysis began in August, Houston made the top five in every month except for September and June.
The index is calculated by an 18-part formula that assesses private-sector job growth, unemployment, earnings, housing-price appreciation, and construction and retail activity for all 102 metropolitan areas with populations of more than 500,000.
Houston had the second-strongest housing-price appreciation over five years of any of the metros, as well as the second-greatest private-sector job growth over the same period.
Meanwhile, Austin — which had topped the list for five months in a row — fell to No. 3, and Provo, Utah, jumped into the top spot. Dallas-Fort Worth climbed another place to No. 2, and Oklahoma City held its No. 4 spot.