America’s Fastest Growing Cities
Fort Myers, FL is America’s fastest growing city, according to Thrillist. Big surprise, right? This was based on the reports from WalletHub, measuring 515 cities in the U.S. based on size and population.
In sum, the factors measured from these reports include population and economic growth. In this case, Fort Myers, FL took first place, followed by Midland, TX.
After analyzing the past 7 years of data, WalletHub concluded the study with a list based on a total of 15 different criteria. In addition to population growth, growth of median household incomes, housing prices, number of startups, and businesses moving to the area were measured. Declines were also taken into account, such as poverty rates and unemployment.
Why Fort Myers, FL?
Fort Myers, FL wasn’t always at the top of the list, according to the reports; it didn’t reach the top of the list until 2018. In 2017, the Mayor of Fort Myers, Randy Henderson, told the local News-Press the reason for the boom in economic growth was because of the efforts to attract private investment, build affordable housing for Millennials and young professionals, and update the city’s infrastructure.
Growth in Nearby Cities
Also experiencing high growth is Miami and Lehigh Acres (also on the list of top 15). It’s quite possible that the area in general is experiencing growth, due to the number of families and businesses moving to the same region.
Growth in Other States
What the cities on the list share in common is that many are in the same state. So it may be safe to say that not only cities are growing, but the states too.
Check out the top 20 list of America’s fastest growing cities:
- Midland, TX
- Pearland, TX
- Bend, OR
- McKinney, TX
- College Station, TX
- Lehigh Acres, FL
- Mount Pleasant, SC
- Enterprise, NV
- Irvine, CA
- Milpitas, CA
- Pleasanton, CA
- Murfreesboro, TN
- Meridian, ID
- Redwood City, CA
- Frisco, TX
- Round Rock, TX
- Austin, TX
- Miami, FL
- Saint George, UT
What to Conclude About these Cities
So what is actually attracting people and businesses to these cities? The weather? For some, it’s true but most commonly, it’s the job opportunities and affordability of housing. While cities like Chicago and Los Angeles continue to become more expensive with taxes and costs of living, others are booming as people flock to the south for an easier, more enjoyable lifestyle.
Looking to Move Your Business?
If you’re looking for a change, always be sure to do your home homework and research all options before moving. Just because it’s growing and there are many opportunities, doesn’t mean it’s the best choice for your company; what may be right for every other industry may not be for yours.
One of the best ways to research cities to move your business is to research the economic growth as well as any vendors in the area, culture of the city, local leasing or investment rates, and target market. Surely there’s no place for a snow plow company in Fort Myers, FL.
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