Austin #2: Best College Town

Ample arts, strong creative class and beating entrepreneurial heart are just a few reasons Austin was ranked one of the best places for college students, among other factors, a recent study reported.

The American Institute for Economic Research ranked Austin, the Texas state capital, the second best place for students in mid-sized cities, out of more than 222 considered in the index. Rather than focusing on a specific school's performance, the study analyzes indicators related to the city including:

• The number of college students per 1,000 residents (85.2 in Austin)
• Student diversity (4.5 percent Austin students hold foreign passports)
• Research capacity ($306 academic research and development expenditures per capita in Austin)
• Degree attainment (37.3 percent of the 25-34 year old population with college degrees in Austin)
• Cost of living ($954 rent for a two-bedroom apartment in Austin)
• Arts and leisure venues (34.5 cultural and entertainment venues per 100,000 residents)
• Commuting options (7.7 percent percentage of workers older than 16 commute on foot or by public transportation or bicycle in Austin)
• Creative class, or the percent working in arts, education, knowledge industries, science and engineering, management and other fields (38.5 percent in Austin)
• Income per capita ($39,602 in Austin)
• Entrepreneurial activity (112.9 net annual increase in total number of business establishments per 100,000 residents in Austin)
• Year-over-year ratio of college-educated population in the area
• Unemployment rate (7.3 percent in Austin)

The Barrington, Mass.-based nonprofit pulled data from the Census Bureau, U.S. Bureau of Labor Statistics and the National Science Foundation.

“The amenities that create great college communities also make these destinations great places to visit, live, retire or locate a business,” AIER President Charles Murray said.

The top 10 college towns for major metros were in order: San Francisco, New York City, Washington D.C., Boston, Seattle, Wash; Baltimore; Los Angeles, San Diego, Minneapolis, Philadelphia, Chicago, Denver, Miami, Phoenix and Atlanta.

For medium sized cities, the top 10 in order were: San Jose, Calif.; Austin, Raleigh, N. Car.; Hartford, Conn.; Portland, Ore.; Pittsburgh, Pa.; Salt Lake City; Rochester, N.Y.; Buffalo, N.Y.; and Nashville, Tenn.


Read more: Austin second best college town, study says - Austin Business Journal