Feb 7, 2024 - News

Report: Nashville's economy makes it a top-tier city

Illustration of a winner's medal shaped like a location pin.

Illustration: Annelise Capossela/Axios

Nashville is one of the nation's top-performing cities, according to a new report analyzing economic metrics nationwide.

  • Music City came in 6th in the rankings from the Milken Institute. It marks our second consecutive appearance in the top 10.

Why it matters: Nashville was recognized for its high wages, plentiful jobs, (relatively) low cost of living and tech sector — making it an economic model for the rest of the nation.

What they're saying: "Music City has demonstrated remarkable staying power as one of America's best-performing metros," the report stated.

  • "The metro's population growth has been accompanied by record-high tourism propelling the economy."

Yes, but: Although the report lauded the "remarkable rise" of Nashville's high-tech sector, it also noted that industry's economic output was much stronger in other cities.

How it works: The Milken Institute, a nonpartisan nonprofit, assessed 403 U.S. metropolitan areas using 13 economic metrics, based on data from January 2022-August 2023.

  • The report divided cities into large metros (more than 275,000 people) and smaller ones.

Read the full report

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