McAllen Economic Highlights
Low Cost of Living
- The ACCRA Cost of Living Study ranked McAllen's Cost of Living Index as the 3rd lowest in the Nation for the Third Quarter of 2007, 5th lowest in the Nation for the Fourth Quarter of 2007
- Inc. Magazine recognized McAllen as one of the Nation's Boomtowns, or hottest cities for entrepreneurs. The McAllen MSA was ranked 5th in the Nation Overall, and 2nd among Midsize MSAs.
- Forbes Magazine recognized McAllen as one of the Nation's Best Cities for Jobs. McAllen was ranked, 2nd in the Nation for Income Growth, and 1st for Job Growth.
- Texas Monthly recognized 3 McAllen Schools among Best Public Schools in Texas. Ben Milam Elementary, Cathey Middle School, and McAllen Memorial High School received the prestigious distinction.
Superior Retail Performance
- The Texas Comptroller ranks McAllen 3rd in the State for Sales Tax collections per capita.
- McAllen's total population is 15th among Texas cities, yet it ranked 13th in overall Retail Sales, and 1st in the State in total Retail Sales per household.
Strong Real Estate Market
- According to a RealtyTrac, out of the 100 largest metropolitan areas, the McAllen MSA was ranked 97th in the nation in terms of foreclosures per total number of household, with only .132% of all MSA households foreclosed or under foreclosure.
- In addition, the McAllen MSA showed one of the nation's sharpest declines in foreclosures, with a year-over-year decrease of 19.74% from 2006 to 2007.