There are probably new signs going up at the entrances to 10 cities across the U.S. in the next few weeks — those identified by the U.S. Census Bureau as the fastest growing cities in America for the 12-months ending July 1, 2016. This analysis included all cities having a population of 50,000 or more people.
The U.S. population growth in the 12-months ending July 1, 2016 was 0.7 percent. The following table of the top-10 population growth markets shows these increasing from a minimum 4.7 percent in 12 months to 7.8 percent. The top-10 cities are growing at a multiple ranging from 6.7 to 11 times the overall U.S. population growth. Note that all but two of the top-10 growth cities were located in the south – Buckeye city, part of the Phoenix-Mesa-Scottsdale Metropolitan Statistical Area (MSA), and Bend, Oregon.
Other findings from the U.S. Census release:
- Columbus, Ohio captured the 14th largest city spot in the U.S. overtaking Indianapolis, Indiana
- Los Angeles, California, despite losing 8,638 people in the 12-months remained the second largest city in the country
- Largest city in the U.S. remained New York, with Chicago in third place, Houston fourth and Phoenix fifth
- Largest net-gain in population was Phoenix, up 32,113 residents or a gain of approximately 88 people each and every day
Small Towns – 5,000 or Less Population 12-Month Changes
- Northeast small towns declined in population by 0.5 percent
- Midwest small towns declined by 0.3 percent
- Southern small towns grew by 0.2 percent
- Western small towns grew by 0.8 percent
To read the entire release including the top-15 ranked https://www.census.gov/newsroom/press-releases/2017/cb17-81-population-estimates-subcounty.html
Once again I invoke the TINSTAANREM axiom — There Is No Such Thing As A National Real Estate Market. Nor is there such a thing as typical population growth across the country.
Just imagine what home prices are doing in these top-growth markets.