The AEI Housing Center recently spotlighted the Dallas-Fort Worth area as the best metro in the nation for homebuyers hoping to break into the science, technology, engineering, and math (STEM).
To rank the top-30 STEM metros, the AEI Housing Center started with the 30 metros with the highest number STEM jobs in 2018. It then took into account two other important factors: total employment growth of any type since 1990 and relative affordability for first-time buyers.
The report found the DFW area to have a STEM workforce of 250,000, which is more than Seattle, Washington, and San Jose, California. Overall employment growth in DFW grew 77% since 1990—more than double the national average of 33%.
Home affordability in DFW was among the 10 best in the nation.
“A vibrant new home construction sector helps Dallas-Fort Worth maintain both a high rate of employment growth and FTB affordability,” the report states. “New construction sales accounted for 24.6% of all home sales in [Q4 2018], well above the national rate of 11.2%. For the entry-level home segment, the new construction share was 15.1%, also well above the 6.2% rate for the national entry-level home segment.”
Fellow Lone Star State cities Houston and Austin joined Dallas, at No. 2 and 4, respectively.
Affordability was a key factor responsible for Texas cities ranking highly on the list. A recent LendingTree report found Houston and Dallas to be among the most affordable markets for middle-class families.
Other markets included in the LendingTree top 10 were Atlanta; Chicago; Phoenix; Charlotte, North Carolina; Washington, D.C.; Columbus, Ohio; and Seattle.
The report also found that five of the worst markets for STEM careers were in California. Los Angeles was rated as the worst market in the nation for those seeking STEM careers.
Although ranked highly in total STEM jobs with nearly 360,000, overall employment has grown just 10% since 1990 and it is among the most expensive market in the nation.
Sacramento was tied with Los Angeles for the worst market for STEM careers, as its STEM workforce totaled just 71,000.