HUNTSVILLE, Ala. – A new report by real estate technology company Stessa shows the Huntsville metro area is recovering economically better from the pandemic than anywhere else in the country.
The company used data from the U.S. Census Bureau, the Bureau of Labor Statistics, and the real estate website Redfin to rank metropolitan areas across the United States. The report took into account changes in employment, unemployment rates, the number of new building permits issued per month per capita, and average monthly home sales per capita. That data was then compiled to give each metro area a composite score.
Huntsville scored 89.6 on Stessa’s scale – the highest of any metro in the country. The Northport-Sarasota-Bradenton, Florida metropolitan area came in second with a score of 86.8. Nashville was fifth in the nation in economic recovery but fared the best among large metropolitan areas.
When it comes to unemployment, the Huntsville and Decatur metropolitan areas tied with Lincoln, Nebraska for the lowest rates. All three areas had an unemployment rate of 2.2%. The national unemployment rate was 5.4% in July 2021.
While the Huntsville metro came out on top in economic recovery, the state of Alabama as a whole did not fare as well. The state ranked 30th in Stessa’s report.