Forbes: young professionals flock to Amarillo

AMARILLO – Amarillo ranked No. 16 on a list of opportunity cities for young professionals, according to Forbes Magazine.

The list is a compilation of 19 cities and focuses on professionals ages 25 to 39. Three main factors influenced rankings — median home sales prices, unemployment rates and trends and population growth for cities of at least 150,000 people.

Amarillo’s median home price at the end of first quarter 2014 was $97,700, according to Sperling’s Best Places.

The average home sale price through July 2014 was $167,439, compared with $156,160 at the same point in 2013, and $96,316 in 2000, according to the Amarillo Economic Index from InghamEcon.

The unemployment rate was listed at 3.9 percent, and the rate has been on a downward trend. Additionally, the population grew by 0.8 percent from 2008 to 2012.

The Amarillo MSA had the third-lowest unemployment rate in the state at 4.1 percent in July 2014, according to the Texas Workforce Commission.

Lubbock hit the list at No. 7, with a 1Q 2014 median home sales price of $108,400. Lubbock’s unemployment rate was listed at 4.5 percent, also on a decreasing trend, and its population growth from 2008 to 2012 was 10.7 percent.