Canyon Lake - New Braunfels - San Antonio Economic Update
Posted by Mary Sallman on Tue, Dec 27, 2011
Canyon Lake - New Braunfels - San Antonio Texas Economic Update
Besides the crystal blue waters and beautiful hill country views of Canyon Lake, Texas, the area now has one more thing to brag about … the economy.
Back in 2009 at the height of the economic downturn BusinessWeek published an article titled "U.S. Metros Least Touched by the Recession". Ratings for the top 40 “least touched” were based on job growth, unemployment, gross metropolitan product and home prices.
San Antonio just to the west of Canyon Lake was rated as the #1 city least affected by the recession and Austin to the east was rated at #2.
The presence of a strong oil and gas industry in the area, and the availability of affordable housing and low wages which attracted more businesses to the area helped to keep housing prices from free falling and kept unemployment in check.
The economic strength of San Antonio continues to remain strong as evidenced by the “2011 Best-Performing Cities Index” an annual report published by the Milken Institute that rates cities by how well they are creating and sustaining jobs and economic growth over a five-year period. Numbers are based upon
- jobs
- wages and,
- technological performance.
San Antonio was again rated as the #1 city with Austin following at # 4. In fact 4 out of the top 10 cities were in Texas.
With the consolidation of military bases bringing in construction dollars, the growth in healthcare, and work brought in by Eagle Ford Shale, San Antonio saw a large jump in job growth and in wages locally. However housing prices and cost-of-living changed little. Closer to Canyon Lake, New Braunfels experienced a drop in unemployment from 6.2 percent in October, to 5.8 percent in November, a rate well under even the average jobless rate of 7 percent for the San Antonio-New Braunfels Metropolitan Statistical Area (MSA) which is comprised of 8 counties in the San Antonio area.
So besides being a beautiful place with lots to do, Canyon Lake in the Texas Hill Country also provides easy access to jobs and remains an affordable and economically stable area in which to live and work.
Not familiar with the Canyon Lake area? Click here for our land kit and contact information.
Already know about Canyon Lake and are intrested in purchasing property, visit our gated lakefront communities of Las Brisas at Ensenada Shores and First Mountain on Canyon Lake.