These are 2025's best-performing cities
Add Axios as your preferred source to
see more of our stories on Google.
Raleigh, North Carolina; Ogden, Utah and Salt Lake City, Utah are this year's best-performing big cities, according to an annual report ranking metros across a range of economic factors.
Why it matters: The Milken Institute's yearly rankings highlight U.S. cities with job growth, affordable housing, economic equality and other big draws.
The big picture: Cities have largely emerged from the tumultuous times of the COVID-19 pandemic and "remain at the center of economic activity," as the report puts it.
Driving the news: Raleigh moved up to the top spot this year after coming second in 2024 and third in 2023.
- "It's been a long time coming for Raleigh, which has performed extremely well in our rankings for several years, without ever quite landing on top before this year," reads the report, which credits the city's job and wage growth and "thriving high-tech sector."
Utah is also a big winner, with Ogden and Salt Lake City taking the other two podium spots.
- "Ogden's impressive rise from last year's ranking" — up 24 places — "stems from big improvements in its recent labor market performance."
- Salt Lake, meanwhile, combines "a robust job market, a growing high-tech sector, and widespread access to economic opportunities."
Rounding out the top 10: Huntsville, Alabama; Colorado Springs, Colorado; Austin, Texas; Fayetteville, Arkansas; Olympia, Washington; Palm Bay, Florida and Boise City, Idaho.
Zoom in: Some smaller cities are growing thanks to lower housing costs and better economic equality, per the report, which highlights job and wage growth in places like St. George, Utah (near Zion National Park) and Auburn, Alabama.
How it works: The annual rankings from Milken — a nonpartisan, nonprofit think tank — are based on its Best Performing Cities index, which takes into account cities' labor markets, tech industry growth and economic access.
Reality check: The report doesn't explicitly look at other quality-of-life factors people may consider when picking a place to live, like traffic congestion, public transit access, park space, etc.
The bottom line: If you're searching for a booming city that isn't New York, Chicago or L.A., give this list a look.
