McAllen is happening and our beautiful region continues to see meaningful growth and economic trends that point towards prolonged prosperity for the area.
Through aggressive initiatives and marketing campaigns – such as #SeeYouinMcallen – city leaders from the McAllen Chamber of Commerce, McAllen EDC and City of McAllen offices are working diligently to promote McAllen businesses for shopping, playing, eating, and staying.
While our primary goal with these marketing campaigns will continue to focus on drawing in tourists from various regions including northern Mexico, the South Texas Triangle, and our very own metropolitan area, it is worth noting that our marvelous city of McAllen is not only great to visit but to live in as well.
Undoubtedly, our ability to thrive and remain a dynamic city not only depends on drawing in travelers but also attracting a permanent population of productive, innovative and skilled workers to enhance our civic and economic strength.
One of the means by which our city will be able to accomplish this long term goal will be to continue to offer a high quality of life with a consistently low cost of living. A measure that we are currently succeeding at.
According to the Council for Community and Economic Research (C2ER) 2017 First Quarter Cost of Living Index, McAllen has ranked as the least-expensive city for cost of living in the U.S. for a consecutive 28 months.
The Cost of Living Index, which is published quarterly by C2ER, provides information and comparisons on the cost of living for 265 urban areas all throughout the nation. The study is based on more than 90,000 prices covering nearly 60 different items falling under six major components including: housing, utilities, grocery items, transportation, health care and miscellaneous goods and services.
In McAllen, the after-tax cost to maintain a quality standard of living is nearly 20% the below the national average, meaning residents (and visitors alike) are able to stretch their dollars and enjoy a wider variety of commodities.
Jorge Sanchez, Director of Business Development and Start-ups of the McAllen Chamber of Commerce, noted that, “Cost of living reflects many things, but a consistently low cost of living is a good sign that McAllen [continues to be] an excellent place to live and do business.”
But the Cost of Living Index report isn’t the only good news for McAllen. The latest edition of the Chamber’s own Economic Pulse Index notes some positive economic indicators including:
- Home building continues to perform well in 2017 with the number of new single-family resident permits up by 7.6% in April, and with 128 permits issued for the month, represents the highest monthly total for April since 2010.
- For housing sales, the average price in April has seen a solid increase of nearly 8%, and the year-to-date through April average up by an amazing 11% year-over-year.
- Average home sales prices are seeing positive year-over-year growth.
- Year-to-date through April 2017 total real dollar volume of residential real estate sales activity has broken a 10 year record, and is up over 10% from last April.
- The McAllen metro area continues to register job growth with April payroll employment up an estimated 1.8% compared to April 2016, which accounts for an estimated 4,500 jobs over the last year. The Education and Health Services sector have seen the majority of this job growth.
The story of McAllen is one of hardwork and determination, and it shows in those who have come to visit and those who have to come to call it home.
Your partners and collaborators at the McAllen Chamber of Commerce, the City of McAllen, and McAllen Economic Development Corporation ask that you please help us to continue telling this fantastic and captivating story:
- Take an active role on social media.
- Like, comment, and share “See You in McAllen” posts and tweets.
- Use #SeeYouInMcAllen on your own business posts and tweets.
- Pick up “Amigos Always” signage and point of sale brochures at the Chamber.
- Give your employees “Amigos Always” pins to wear at point-of-sale.
- Continue to deliver the warm welcomes and outstanding customer experiences our visitors (and locals) have always counted on when they come to McAllen!
1. Information derived from monthly sales tax rebates for McAllen, Edinburg, Mission and Pharr