Dallas-Fort Worth has been long known for its great quality of life and low cost of living, and a new study finds that when it comes to startup companies, DFW has a lot to offer.
Clever, a real estate tool and blog, identifies Dallas-Fort Worth as the third best metro in the United States for affordability for startups. The study looks into startup density, startup growth, investment, the education level of the local population, cost of living, and more within the top 50 most populated cities in the U.S.
The resulting ranking places all four of Texas' major metros in the top 10. Beyond DFW, Austin ranks No. 1 overall, followed by Houston at No. 6 and San Antonio-New Braunfels at No. 8.
DFW ranks No. 9 in startup density, a measurement of new and forthcoming businesses (3 years old and younger); startup growth (7.3 percent); and investment, an "indication of ability of capital (venture capital and private equity) for starting a business," the report says.
"People are flocking to the Metroplex, from the Big D to Cowtown, by the hundreds. [DFW] has increased its population by an estimated 277,747 residents in the last two years — that's over 380 new residents per day — and it isn't expected to slow down any time soon," reads the report. "The Texas State Data Center projects the metro to reach almost 8 million by 2025. That influx of residents, along with graduates from DFW's 40-plus colleges, could pave the way for a productive team at any company."
The report also finds that 26.4 percent of DFW residents hold at least a bachelor's degree, 7 percent of workers are employed at a startup, and 3 percent of workers are self-employed.
In August, Inc. magazine named Dallas among the hottest startup cities, citing a three-year revenue growth of 113 percent and 74 companies on the 2019 Inc. 5000 list.
A version of this story originally appeared on InnovationMap.com. Additional reporting by Johnathan Silver.