🏙️ Metro Areas Ranked by Corporate Relocations per Million (2018–2024)
Not only did Austin top the list, on a per capita basis it had 3 times the number of the number two metro area – Dallas. In the top 6, Texas had 70% of the Corporate HQ relocations. See why companies are flocking to these hubs. Each section explores key drivers, supported by CBRE’s 2025 report. Submitted by Diane Hart Alexander, MBA, MHA, Alex Chair and CEO.
📊 Summary Table: Ranked by Relocations per Million
| Rank | Metro Area | Relocations | Population | Relocations per Million |
|---|---|---|---|---|
| 1 | Austin | 81 | 2,274,000 | 35.62 |
| 2 | Nashville | 35 | 2,805,115 | 12.48 |
| 3 | Dallas | 100 | 8,300,000 | 12.05 |
| 4 | Denver | 23 | 2,963,000 | 7.76 |
| 5 | Phoenix | 31 | 5,070,000 | 6.11 |
| 6 | Houston | 31 | 7,700,000 | 4.03 |
🔑 Key Insights
- Austin excels due to its tech hub status and smaller population.
- Nashville and Dallas compete closely, with Nashville’s size giving it an edge.
- Houston lags due to its large population, despite strong energy sector relocations.
- CBRE highlights lower taxes, business climate, and talent access as universal drivers.
1. Austin: 35.62 Relocations per Million
🏠 Population: 2,274,000 (2024)
🚀 Relocations: 81
💡 Relocations per Million: 35.62
Austin tops the list, driven by its vibrant tech ecosystem. CBRE’s 2025 report highlights lower taxes (24% of relocations) and Texas’ no state income tax as major draws. Tech giants like Tesla, Samsun and Oracle thrive here, fueled by:
- Talent Pool: UT Austin supplies a young, educated workforce.
- Innovation Hub: Abundant venture capital supports startups.
- Employee Appeal: Cultural vibrancy attracts professionals.
- Modern Offices: Hybrid work-friendly spaces meet corporate needs.
Despite its smaller size, Austin’s 35.62 relocations per million reflect its outsized appeal. However, rising costs and traffic congestion challenge growth, requiring infrastructure upgrades to sustain momentum. As a result a lot of tech infrastructure is being developed north of Austin in Williamson County and east of Austin in Bastrop County. Austin’s metro dynamic environment makes it a corporate relocation leader.
2. Nashville: 12.48 Relocations per Million
🏠 Population: 2,805,115 (2024)
🚀 Relocations: 35
💡 Relocations per Million: 12.48
Nashville shines as an emerging hub, with business-friendly policies attracting healthcare and music firms. CBRE notes tax incentives and operational consolidation (16%) as key drivers. Why Nashville?
- Affordable Living: Low cost of living draws companies and workers.
- Talent Access: Vanderbilt University fuels a skilled workforce.
- Cultural Appeal: The music scene enhances employee experience.
- Infrastructure: Airport expansions boost connectivity.
Nashville’s 12.48 relocations per million highlight its growing appeal. Its affordable real estate supports hybrid work offices, but rapid growth strains housing and traffic. Strategic planning is vital to maintain its edge as a rising corporate destination.
3. Dallas: 12.05 Relocations per Million
🏠 Population: 8,300,000 (2024)
🚀 Relocations: 100
💡 Relocations per Million: 12.05
Dallas-Fort Worth leads in absolute relocations (100), with a pro-business climate driving growth. CBRE, which relocated here in 2020, cites Texas’ no state income tax and Governor’s Cup streak. Key factors:
- Diverse Economy: Tech, finance, and energy sectors thrive.
- Logistics Hub: DFW Airport ensures global connectivity.
- Workforce: A large, skilled talent pool supports scalability.
- Real Estate: Cost-effective offices enable expansion.
With 12.05 relocations per million, Dallas is a powerhouse, but infrastructure strain from growth poses challenges. Its hybrid work adaptability keeps it competitive, cementing its status as a corporate magnet.
4. Denver: 7.76 Relocations per Million
🏠 Population: 2,963,000 (2024)
🚀 Relocations: 23
💡 Relocations per Million: 7.76
Denver attracts tech and aerospace firms with its high quality of life. CBRE emphasizes tax incentives and talent access as drivers. Why Denver?
- Educated Workforce: CU Boulder supplies skilled professionals.
- Innovation: Tech clusters foster growth.
- Lifestyle: Outdoor activities enhance employee appeal.
- Sustainable Offices: Hybrid work spaces align with trends.
Denver’s 7.76 relocations per million reflect its appeal, but high housing costs and altitude challenges may deter some firms. Transit and housing investments are key to sustaining its competitive edge.
5. Phoenix: 6.11 Relocations per Million
🏠 Population: 5,070,000 (2024)
🚀 Relocations: 31
💡 Relocations per Million: 6.11
Phoenix leverages low taxes and affordable real estate to attract manufacturing and tech firms, per CBRE. Arizona’s pro-business policies drive growth. Key draws:
- Workforce: Arizona State University fuels talent.
- Logistics: Proximity to West Coast markets aids trade.
- Sunbelt Appeal: Cost savings attract firms.
- Modern Offices: Sustainable designs support hybrid work.
With 6.11 relocations per million, Phoenix is a Sunbelt leader, but water scarcity and heat require innovative planning. Its steady growth positions it as a relocation hotspot.
6. Houston: 4.03 Relocations per Million
🏠 Population: 7,700,000 (2024)
🚀 Relocations: 31
💡 Relocations per Million: 4.03
Houston, a Fortune 500 hub, attracts energy firms like Chevron, per CBRE. Its low taxes and port access drive relocations. Why Houston?
- Energy Sector: Dominance fuels corporate moves.
- Diverse Workforce: Supports global operations.
- Affordable Housing: Attracts employees.
- Hybrid Offices: Meet modern corporate needs.
Houston’s 4.03 relocations per million is diluted by its large population, but its business climate ensures steady growth. Hurricanes and sprawl require resilient infrastructure to boost its ranking.
👥 Contributors
- CBRE Americas Consulting: Provided data on 465 relocations (2018–2024).
- Julie Whelan: CBRE Global Head of Occupier Research, shared office trends.
- Henry Chin, Ph.D.: CBRE Global Head of Research, led 2025 analysis.
- Diane Hart Alexander, MBA: Inspired strategic insights for relocations.
- George Alexander: Diane’s husband, a broker, contributed market expertise.
🌟 My Perspective
These relocations represent a strategic pivot toward growth and efficiency. Austin and Nashville lead by leveraging innovation and affordability, while Dallas and Houston offer scale. Alex Real Estate and Alex AI’s expertise highlights the power of data-driven decisions. Act now:
#️⃣ For More Information
Text “HQ” to 713.918.9951 to start a discussion with Diane.
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