Which Cities Have Changed the Most?: Austin #1

October 2017
Source: 
MagnifyMoney

A MagnifyMoney analysis looks at a decade of data to determine which communities are undergoing dynamic transformations, and which are standing still.

The cities that have changed the most in 10 years
“This place has changed” is a refrain you often hear from a city’s longtime residents. But change is a curious, inconstant thing; as some communities undergo great transformations, others seem frozen in time.

MagnifyMoney looked at nine elements of local change from 2006-2016 among the 50 largest metros in the United States, creating a Change Score (0-100) for each. The score factors in such measures as the changes in commute times, income, house prices, crime rates, building permits and more.

Change isn’t necessarily a good or bad thing. Big growth in commute times and rents can be negative, but they can also be a function of positive developments like job and income growth. Similarly, places without as much change could be more attractive to people working their way up the salary ladder or those retirees on fixed incomes, offering more affordable housing and less congestion.

But change often brings underlying challenges to the forefront, prompting communities to make tough calls on things that could hamper positive transformations going forward, like diversification of industries, infrastructure investment and tax policy.

MagnifyMoney is highlighting these places to encourage discussion in communities dealing with rapid change.

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