WalletHub ranks Austin as 'top college town in America' for third year in a row

Austin has done it again.

Every year, WalletHub releases its top college and university rankings ahead of college application deadlines to help students refine their school choice. This year, Austin ranked as the best college town in America ― as it did in 2022, 2021 and 2019 (in 2020, it ranked second).

"This designation acknowledges Austin's commitment to offering students academic excellence and a diverse and engaging social environment," WalletHub analyst Cassandra Happe wrote in an email to the American-Statesman. "The honor positions Austin as a top choice for prospective students, showcasing its unique blend of educational, cultural, and recreational elements, making it the best among the assessed cities."

In its in-depth look, WalletHub compared more than 400 U.S. cities of different sizes and ranked them based on 31 indicators, including quality of academic, social and economic opportunities. Happe wrote that Austin's "unique blend of educational and recreational elements" contributed to its top ranking.

Housing costs, cost of living, cost of education, earning potential, crime rate, median income of part-time workers and unemployment are also considered in how schools are scored ― as are festivals per capita; nightlife; food trucks, breweries and cafés per capita; sports; and cost of pizza and burgers, according to WalletHub's methodology description.

Austin had a total score of 63.24 out of 100.  Though it ranked first overall, it came in 203^rd for wallet friendliness, 14^th in social environment and 20^th in academic and economic opportunities.

With one of the highest annual job growth rates and quality of education in the country, Austin was selected as a place students will likely get a great return on their higher education investment. It also cited Austin’s perennial entertainment options ― from Royal-Memorial Stadium games, recreation at Lake Travis, Tex-Mex cuisine, to music and comedy ― as advantages of student college experiences.

WalletHub named Ann Arbor, Mich., the second-best college town, followed by Orlando, Fla., in third.

The study named the University of Texas, Concordia University and St. Edward’s University as schools the city is known for. Austin is also home to Huston-Tillotson University, a historically Black university in East Austin, and Austin Community College, a network of 11 campuses.

And the number of colleges in Austin is only increasing: The University of Austin just received permission from the Texas Higher Education Coordinating Board to begin granting degrees in 2024. In a previous interview, its founding president, Pano Kanelos, said Austin was “the most obvious place” to house the new college given its growth and innovative spirit.

The College & University Ranking list was released in October. Only one Texas university made the top 30 for WalletHub’s Best Colleges & Universities: Rice University at spot 7 in the 99^th percentile. The University of Texas was the second Texas school named, at spot 46 in the 95^th percentile.

See where other cities and schools matched up below:

WalletHub’s Overall Rank 2024 Best College Town

1. Austin

2. Ann Arbor, Mich.

3. Orlando, Fla.

4. Tampa, Fla.

5. Scottsdale, Ariz.

6. Las Vegas, Nev.

7. Charlottesville, Va.

8. Gainesville, Fla.

9. Raleigh, N.C.

10. Atlanta, Ga.

WalletHub’s Overall 2024 Best College & Universities

1. Yale University

2. Massachusetts Institute of Technology

3. Princeton University

4. California Institute of Technology

5. Harvard University

6. Duke University

7. Rice University

8. Northwestern University

9. Johns Hopkins University

10. Stanford University

This article originally appeared on Austin American-Statesman: Austin ranks no. 1 in WalletHub's Best College Town ranking again