Economic Domination

North Texas city's booming economy declared one of the best in U.S.

North Texas city's booming economy declared one of the best in U.S.

Frisco, Texas
Frisco has the second fastest growing economy in the U.S. Photo by Roger Robinson/Visit Frisco

Texas is brimming with booming economies, according to a new report from WalletHub. The financial website has ranked the U.S. cities with the fastest growing economies, and the Lone Star State dominates the rankings with nine cities in the top 10.

To determine the rankings, WalletHub looked at data from 2008 to 2014 and focused on 10 socioeconomic metrics, including population rates and job growth. Scores were assigned to each category and then combined to create an overall ranking.

Odessa leads the nation, followed by Frisco, No. 2; Midland, No. 3; Mission, No. 4; and College Station, No. 5. Other Texas cities in the top 10 are Killeen, No. 6; Bryan, No. 8; Austin, No. 9; and Round Rock, No. 10. The lone non-Texas city, Kent, Washington, ranks seventh. 

Frisco fares exceptionally well in two of the individual categories. Out of the cities studied, the North Texas city ranks No. 4 for highest population growth and highest job growth.

Other North Texas cities with fast-growing economies are McKinney, No. 11; Allen, No. 15; and Fort Worth, No. 18. Fort Worth also ranks third among large cities with the most growth, behind Austin and Miami. 

Dallas comes in at No. 86, behind Houston (No. 59) and San Antonio (No. 62).