Jul 13, 2015, 8:22am CDT
Houston Business Journal
Houston is not only growing in size but also in high-income residents, a new study shows.
An analysis of U.S. Census Bureau data by the SelfStorage.com Moving Blog has ranked Houston the seventh best city in the United States in terms of combined growth in population and high-income households.
The study compared population growth to the percentage of households making at least $200,000 a year from 2005 to 2013.
Houston’s population grew at a rate of 22 percent in that time span, with a population of 6,490,180 in 2013, according the the report.
The number of Houstonians making at least $200,000 a year grew by more than 86 percent.
The study found that 6.7 percent of Houstonians were making at least $200,000 a year in 2013. This was the second largest percentage of households at this income, only behind Seattle at 6.9 percent.
Austin, San Antonio and McAllen, Texas, also ranked among the top 10 cities on the list.
The city with the best combined growth in population and high-income households was Provo, Utah, the study found. At the No. 1 spot, Provo had a population growth of nearly 27 percent between 2009 and 2013. The percent of people making at least $200,000 grew exponentially, at a rate of more than 118 percent.
The Houston area has been named among the best places to live and work a number of times in recent months.
A study from NerdWallet, named Houston’s suburbs some of the best cities to live in Texas, based on quality of life.
Houston has been attracting Millennials for several years. Last month, four of the city’s companies were ranked among the best places for people under the age of 35 to work.
However, earlier this month the city received a negative outlook from Moody’s because of its growing pension costs, liabilities and projected structural imbalance.
