While some US cities are still struggling with high unemployment rates and sluggish economic growth in the aftermath of COVID-19, many are on the rise again.
Financial tech company SmartAsset has looked at population change, unemployment rates, economic development, and changes in household income (among other factors), for more than 500 cities across the United States. Read on to explore the top 10 on their list, and find out what lies behind these locations' impressive improvements.
Over the last decade, Seattle has consistently been one of the country’s fastest-growing cities. According to SmartAsset’s rankings, the area recorded a high five-year population change of 11.84% between 2015 and 2020, and also saw a 14.64% increase in the number of new homes built between 2014 and 2019.
Its average yearly GDP growth rate of about 7% ranks third among all of the boomtowns, accompanied by a median household income increase of 44.4%.
Located on an isthmus between the Puget Sound and Lake Washington, Seattle boasts stunning natural scenery, including views of the volcanic Mount Rainier. The city has an extensive range of parks, beaches, and hiking trails, and various global corporations are based there too, including Amazon, Starbucks, and Nordstrom. The headquarters of Microsoft and Costco are slightly further afield, in the Seattle metropolitan area.
North of Seattle and just 21 miles away from the Canadian border, Bellingham is located on the coast of the Pacific Ocean. Between 2016 and 2019, the city's average yearly GDP grew to more than 8%, which is the second-highest in SmartAsset's rankings.
Bellingham has also registered a high five-year population increase of 9.95%, exceeding 91,000 people according to the 2020 US Census.
Thanks to its proximity to the Cascade Mountains and the Salish Sea, Bellingham draws in plenty of adventure seekers. It’s also the southern port of the Alaska Ferry service.
Along with outdoor recreational pursuits, Bellingham’s downtown offers a vibrant arts, entertainment, and food scene, with a growing craft beer industry to boot.
The third Washington state city to land in SmartAsset's top 10, Vancouver sits on the Columbia River by the Oregon border.
This smaller city ranks well thanks to its growing number of businesses and housing options. According to data from the United States Census Bureau, housing saw an impressive 11.8% growth between 2014 and 2019, while the total number of establishments in the area grew by 16.36% in the same period. As well as all that, Vancouver's GDP has grown at an annual rate of 6.06%.
Due to its location on the Oregon border, Vancouver is considered a suburb of Portland. It certainly shares characteristics of its fellow Washington boomtowns – including stunning mountain views and a thriving downtown food, drink, and shopping scene.
The city has transformed its historic waterfront along the river, and offers residents and visitors alike everything from wineries to watersports. More businesses are expected to open in the area in the near future.
Tempe, a suburb in Phoenix, ranks highly across nearly all of the SmartAsset metrics. Tempe saw an 11.88% increase in its five-year population change, and also enjoyed a 40.7% growth in median household income.
Housing construction jumped by 17.34% between 2014 and 2019, while the number of establishments has grown by 11.96% over the last five years. Its unemployment rate, which sits around the 4.7% mark, is slap-bang in the middle of the top 10 boomtowns.
With its population of just over 180,500 people, Tempe has a lot to offer. As the home of Arizona State University, it benefits from being a college city, and its central location is perfect for visiting tourism destinations such as the Grand Canyon.
Tempe is known for its music scene and also hosts a variety of sporting events; in fact, it even hosted the Super Bowl in 1996 at its Sun Devil Stadium. Residents can take advantage of Tempe Town Lake, a reservoir where fishing and kayaking are popular pastimes.
Out of the 500 cities in SmartAsset’s study, Bend has the 10th highest five-year population change, at 18%. Likewise, businesses and housing in the area are booming.
This small city has the 17th-highest increase in number of establishments with 22.51%, and the 20th-highest growth in number of housing units at 24.07%. The average annual GDP of Bend, which has a population of 198,253 according to the 2020 Census, has seen growth of 5.35%.
The city promotes itself as an outdoor playground, with many year-round recreational activities available thanks to the nearby Cascade Mountain range and Deschutes River.
Tourism is a big contributor to the local economy and job market. Bend also has a strong craft beer brewing culture. Its influx in population over the last two decades is in part attributed to the many lifestyle amenities available.
Across the United States, household income is growing the fastest in Mount Pleasant, South Carolina. Between 2014 and 2019, the median household income grew by more than 47%, which is roughly 25% higher than the national average.
The city’s population increased by 13.53% between 2015 and 2020, with housing developments increasing by 18.65%. Mount Pleasant also has one of the lowest unemployment rates in the country, at around 3%.
It’s little surprise that this Charleston suburb is one of the fastest-growing towns in South Carolina. It boasts beautiful views along the Wando River and the Charleston Bay, and provides residents with an abundance of parks, as well as access to beaches and watersports. These are all perfectly complemented by the region’s mild weather.
The city credits its artistic and cultural amenities with fueling its rapid growth, along with low taxes.
Across the 500 cities included in SmartAsset's study, Conroe ranks fifth-highest for its five-year population increase (26.03%), paired with a fourth-highest rank for its five-year housing growth of 39.69%.
Conroe is located within Montgomery County, which, as a whole, enjoyed an annualized GDP growth rate close to 9% over the last three years. According to US Census data, Montgomery County also saw its population increase by an impressive 36% between 2010 and 2020.
Conroe is about 40 miles north of Houston and is considered part of the Houston-The Woodlands-Sugar Land metropolitan area.
The city is also adjacent to Lake Conroe, as well as two protected forests where residents can enjoy bass fishing and bird watching. Locals also benefit from a thriving live music scene; in fact, in 2018 Conroe was designated as a Texas Music Friendly Community by the Texas Music Office.
Meridian ties with Conroe, Texas, as the third biggest boomtown in America. Between 2015 and 2020, its population increased by more than 31% – the third highest residential growth score in the entire study.
Meridian comes in at ninth for its August 2021 unemployment rate, which sat at 2.5%, as well as for its 27.52% increase in housing units between 2015 and 2020.
Fast-growing Meridian is now the second largest city in the state of Idaho. Residents can take advantage of its proximity to Eagle Island State Park, which features a man-made lake, beach, and hiking trails.
Other attractions include a water park, a shopping mall inspired by European architecture (pictured), and Meridian Speedway, which showcases car racing and monster trucks.
Business is booming in Nampa, a city neighboring Meridian in the Boise metropolitan area. According to data from the US Census Bureau, the total number of establishments in the city grew by around 29% between 2014 and 2019, which is the highest rate in SmartAsset’s top 10.
Alongside that, the city’s annual average GDP grew by 6.27% between 2016 and 2019. Nampa also clocked a five-year population change of more than 15% between 2015 and 2020, bringing its residential total to more than 100,000 residents in the latest census.
In 2020, Nampa became the first location in Idaho to host an Amazon fulfilment center, creating around 2,000 jobs for the region.
However, agriculture remains a key element in the local economy, along with food processing and manufacturing. The growing city has also attracted retail and dining businesses, and boasts that its location within the state is a “gateway” to Idaho’s Sunnyslope Wine Trail.
America’s biggest boomtown is Nashville’s largest suburb, and is one of the fastest growing cities in Tennessee. Murfreesboro's five-year population figure was up by 19.6% in 2020, while its number of housing units had increased by 21.15% between 2014 and 2019.
As of August 2021, it had one of the lowest unemployment rates (3.4%) and it's also seen an average yearly GDP growth of 3.71%. For the 150,000+ people who call Murfreesboro home, household income has increased by a neat 38.35%.
This suburb particularly suits those who want proximity to Nashville but without the hustle and bustle of a big city. The county’s schools rank highly compared to others acrss the state and Murfreesboro is also home to Middle Tennessee State University.
While the city boasts several museums dedicated to local history, there is also a reproduction of a working pioneer village among its parks and recreation facilities. Cyclists will also approve of the city's growing system of paved bike paths.
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