Top 15 Cities with the Highest Number of Large Employers

It’s no secret that where jobs are, people follow. When considering a market to invest in, attention to major employers and the overall status of local employment rates are very important information to evaluate.
 

For example, if a particular city or region has only one or two major employers, this can be a risk to your investment. While business is good it may ensure a time of stability, but if any changes such as an acquisition, a corporate re-structure including lay-offs, or any other issue arise that cause a dramatic shift to the local economy, your investment can be compromised right along with it.

Therefore, it’s important to select markets that have a healthy and diverse environment for employment opportunities, as well as reasonable wages. One of the advantages of multifamily investing is that housing will always be a high priority for most people. Investing in properties where tenets are very likely to maintain their standard of living and income within a city or region is key to protecting your vacancy rates and rent roll. The number of large employers in the area is one factor, among many, to be taken into consideration when investing in a real estate market.

I recommend evaluating this market data with a reasonably wide lense, and to take into consideration not only the specific city but major surrounding areas that also contribute to the local economy. This is what is known as a “metropolitan statistical area”, or MSA. Considering only city data alone can misconstrue or create an incomplete view of a market’s overall investment potential.

Therefore, according to City Data, here are the top 15 MSAs with the highest number of large employers identified through Fortune 1000 in 2019. It should be noted that Fortune 1000 identifies these companies based upon primarily revenue generated and the IRS defines a “large company” as a business having 50 or more full-time employees.

12. Minneapolis, MN 

 

  • Number of Large Companies: 22
  • Unemployment Rate: 2.4%
  • Average Monthly Income: $5,296
  • Average Monthly Rent (1-2 BR): $1,795
 
 
11. Atlanta, GA

 

  • Number of Large Companies: 26
  • Unemployment Rate: 2.9%
  • Average Monthly Income: $5,128
  • Average Monthly Rent (1-2 BR): $1,727
 
 
10. Philadelphia, PA

 

  • Number of Large Companies: 27
  • Unemployment Rate: 3.8%
  • Average Monthly Income: $5,248
  • Average Monthly Rent (1-2 BR): $1,836
 
 
 
9. Washington DC, VA

 

  • Number of Large Companies: 30
  • Unemployment Rate: 2.9%
  • Average Monthly Income: $6,280
  • Average Monthly Rent (1-2 BR): $2,344
 
 
8. Boston, MA

 

  • Number of Large Companies: 30
  • Unemployment Rate: 2.6%
  • Average Monthly Income: $6,864
  • Average Monthly Rent (1-2 BR): $3,165
 
 
7. Los Angeles, CA

 

  • Number of Large Companies: 33
  • Unemployment Rate: 4.3%
  • Average Monthly Income: $5,128
  • Average Monthly Rent (1-2 BR): $2,836
 
 
6. San Francisco, CA

 

  • Number of Large Companies: 35
  • Unemployment Rate: 2.7%
  • Average Monthly Income: $8,336
  • Average Monthly Rent (1-2 BR): $3,870
 
 
5. San Jose, CA

 

  • Number of Large Companies: 38
  • Unemployment Rate: 2.7%
  • Average Monthly Income: $10,940
  • Average Monthly Rent (1-2 BR): $3,054
 
 
4. Dallas, TX

 

  • Number of Large Companies: 43
  • Unemployment Rate: 3.1%
  • Average Monthly Income: $5,192
  • Average Monthly Rent (1-2 BR): $1,224
 
 
3. Houston, TX

 

  • Number of Large Companies: 46
  • Unemployment Rate: 3.6%
  • Average Monthly Income: $5,812
  • Average Monthly Rent (1-2 BR): $1,368
 
 
2. Chicago, IL

 

  • Number of Large Companies: 65
  • Unemployment Rate: 3.4%
  • Average Monthly Income: $5,412
  • Average Monthly Rent (1-2 BR): $1,868
 
 
1. New York, NY

 

  • Number of Large Companies: 113
  • Unemployment Rate: 3.9%
  • Average Monthly Income: $7,064
  • Average Monthly Rent (1-2 BR): $3,514
 
 
---
 
 
About Ellie Perlman
 
Ellie Perlman is the founder and CEO of Blue Lake Capital, a woman owned multifamily real estate investment firm focused on partnering with family offices and accredited investors to build and preserve generational wealth. Since its founding in 2017, Blue Lake has successfully acquired and operated multifamily assets across high-growth U.S. markets, completing $1B+ in transactions.

At Blue Lake Capital, Ellie and her team work exclusively with family offices and accredited investors, offering carefully curated investment opportunities that emphasize long-term wealth creation, stability, and risk-adjusted returns. A defining aspect of Blue Lake’s investment strategy is its integration of advanced AI-driven analytics and data science into the entire lifecycle of acquisitions and asset management. By leveraging cutting-edge technology, the firm executes data-driven forecasting on market trends, asset performance, and tenant behavior, ensuring strategic decision-making and optimized returns.

In addition to leading Blue Lake Capital, Ellie is the original founder and host of "REady2Scale - Real Estate Investing" podcast, which provides insights into multifamily real estate, alternative investments, and finance.

Ellie began her career as a commercial real estate attorney, structuring and negotiating complex transactions for one of Israel’s leading development firms. She later transitioned into property management, overseeing over $100M in assets for Israel’s largest energy company.

Ellie holds a Master’s in Law from Bar-Ilan University in Israel and an MBA from MIT Sloan School of Management.

You can learn more about Blue Lake Capital and Ellie Perlman at www.bluelake-capital.com
 
*The content provided on this website, including all downloadable resources, is for informational purposes only and should not be interpreted as financial advice. Furthermore, this material does not constitute an offer to sell or a solicitation of an offer to buy any securities.
 
Back to List Next Article