Top 10 Real Estate
Silver State Commonwealth™ Blog
For our first edition of Top 10 Real Estate, we take a look at the United States as a whole. We have gathered a list of the 10 wealthiest cities with the largest positive growth in economic statistics.
1. Houston, Texas
Houston has posted some of the strongest metro‑GDP growth in the U.S., expanding 25.1% from 2021 to 2023. This was well above the national average of about 16% during that span. Major drivers include manufacturing, professional/business services, real estate, health care, and education, all contributing significantly to the region’s output. The city is also forecasted to grow GDP by 2.2% in 2025, which though modest, is above the U.S. average; employment growth of 75,000 new jobs is expected, pushing total employment above 3.5 million.
Houston’s lower cost of living relative to places like California, its business‑friendly climate, and its diversified economy (energy, health, aerospace) are helping it maintain momentum despite national headwinds.
Sources: Houston.org Houston Chronicle WCCT
2. Dallas‑Fort Worth (DFW), Texas
The Dallas‑Fort Worth area continues to put up strong economic indicators in 2025, with job growth across most sectors and steady wage growth. For example, in certain months the region saw employment growth of ~2.2‑2.8% annualized, with unemployment rates holding fairly low (around 3.8‑3.9%), even while average hourly earnings grew year‑over‑year.
Housing supply and multifamily construction are important dynamics: although many apartments have been built, new deliveries are expected to slow, which may tighten supply and support rental rates later in 2025. DFW also benefits from large scale migration (both domestic and international), a business environment that attracts financial institutions and corporate relocations, and a favorable mix of industries (hospitality, professional services, education/health).
Sources: Federal Reserve - Dallas Business Insider MMG Real Estate Advisors
3. Austin, Texas
Austin has been named the top “large economic boomtown” in the U.S. for 2025 by multiple studies, with strong growth in GDP (about a 51% increase over 2019‑2023 in some analyses), along with sharp rises in business formation, median income, and housing stock. In addition, Austin leads the nation in new apartment construction rate this year, with more than 15,000 new units expected by end of 2025.
The city also shows robust job creation especially in tech, professional services, manufacturing, and is improving its human capital metrics (educational attainment). On the flip side, housing affordability and inventory pressures are starting to emerge, though new construction and supply of single‑family homes are helping to largely offset the tight budgeting.
Sources: CultureMap Austin Axios Forbes
4. San Francisco, California
"San Fran" has been and remains a hub for high-value industries like tech, finance, and biotech. Despite challenges like population loss and high living costs, the metro area is forecasted to remain among the top GDP performers through 2025, thanks to productivity and innovation.
It has one of the highest GDPs per capita in the country, and wage growth remains strong in core sectors. Venture capital activity also picked up in late 2024, hinting at a potential rebound.
5. Boston, Massachusetts
Boston continues to thrive due to its concentration of elite universities, hospitals, and financial institutions. The city’s biotech and healthcare sectors are major employers and have seen consistent wage and job growth.
It is frequently ranked among the top U.S. metros for GDP per capita and economic resilience. Infrastructure projects and increased tech sector presence are supporting long-term expansion.
6. Atlanta, Georgia
ATL's economy benefits from its position as a transportation and logistics hub, as well as from major corporate headquarters in finance, media, and tech. The metro continues to see gains in both GDP and employment, with job growth strongest in healthcare, construction, and professional services.
Income and wage growth have outpaced many other southeastern metros. Business relocation and housing development are helping drive economic momentum.
7. New York City, New York
New York City is still the economic engine of the U.S. (Likely not for long pending the upcoming election). NYC does have a massive GDP and strong post-pandemic recovery in sectors like finance, tourism, and media. Wage growth remains high in Manhattan, and the city saw a sharp rebound in private-sector employment in 2024–2025.
High taxes and regulatory burdens persist, but international investment and tourism continue to inject revenue. The city's sheer scale helps sustain long-term growth despite its challenges.
8. Phoenix, Arizona
Phoenix has seen significant expansion in construction, manufacturing, and tech. Its relatively low cost of living (compared to California) and pro-growth policies attract both businesses and remote workers.
GDP and wage growth have been strong, especially in logistics and healthcare. Its population boom also supports retail and housing markets, feeding further economic development.
9. Sacramento, California
Sacramento is emerging as one of California’s most economically active midsize metros. It’s benefiting from outmigration from the Bay Area, with an influx of professionals and remote workers. Growth in state government, healthcare, and education supports steady wage increases.
Housing development has expanded rapidly, and the local economy is diversifying beyond government dependency.
10. Charlotte, North Carolina
Charlotte has become a major financial hub, second only to New York City in banking assets. The city’s economy is growing rapidly, with strong job creation in finance, tech, and healthcare sectors. Corporate relocations and expansions have accelerated, helping Charlotte’s GDP grow faster than the national average.
The metro also benefits from a relatively affordable cost of living, attracting a steady stream of skilled workers. Infrastructure investments, including a growing airport and transit expansions, support sustained economic momentum.
We want to end on a reminder for those seeking the best cities, counties or states in the US to buy a home, invest or otherwise. Invest safely and wait for the right moment, then wait no more! We'll be back with the second edition of "Top 10 Real Estate" next month!
Written by Julian Garrett
2025 Silver State Commonwealth™