Once again, Seattle made Forbes' top 10 list, this time for the best cities to earn a living category.
The best cities to earn a living are those that have plenty of companies doing business in high-paying, growth industries. Combine that with a high-quality business environment, job growth, and a low cost of living and you get a select few locations where the paycheck is generous and the cost of necessities like food and housing is modest.
Here are the top 10 cities Forbes magazine says is the economic reality now and the conditions are likely to get even better as healthcare, technology, and energy draw more employees:
1. Dallas, Texas
2. Houston, Texas
3. Minneapolis, Minn.
4. Austin, Texas
5. Washington, D.C.
6. St. Louis, Mo.
7. Seattle, Wash.
8. Atlanta, Ga.
9. Kansas City, Mo.
10. Denver, Colo.
A list dominated by eastern and southwestern metros, makes Seattle with $32,836 median income the only West Coast city to make the list. One of Seattle’s primary industries, healthcare, accounts for 96,000 local jobs and $10 billion a year.
The economy is also driven by biotechnology and education, which spurs jobs that help mitigate the city's high cost of living.
If you're worried about the economic situation changing for the worse in the next few years, don't be. As health care, technology and energy take more employees into their ranks, Seattle’s future is bright since it specializes in these core industries and will continue to draw skilled workers and dole out attractive compensation.
This is great news for Seattle’s housing market, as the economic forecast for Seattle is strong. A strong economic forecast means increased consumer confidence and aids in our housing market recovery. There is every reason to be optimistic about Seattle’s future.
James Tibbetts is an associate broker at Windermere West Seattle and can be reached at 206-932-2550.
Full disclosure: James Tibbetts is an advertiser with the West Seattle Herald.