But Killeen is ranked as the 6th fastest growing economy in America in 2015 according to WalletHub. Higher than Austin and Round Rock, TX (9th and 10th).
It is the fifth fastest growing “mid-size” city, and has had the fourth highest drop in the poverty rate.
Texas cities as a whole dominate the list of those cities with the greatest economic growth.
WalletHub scores each city based on 10 different weighted criteria, including changes in the unemployment rate, changes in part time v. full time job ratios, and raw population growth.
I have a lot of investors who ask me about the long term potential of the Fort Hood/Killeen market. A legitimate concern of any real estate owner is the domination of the local labor market by a single employer – in our case, Fort Hood and the US Army.
But Killeen is beginning to see a diversification of its job market, and continued, sustained growth. Reports like these certainly go a long way to make me feel optimistic about the local economy and the future of the Fort Hood area!