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The Fastest Growing Cities May See Housing Boom

The Fastest Growing Cities May See Housing Boom

The population of the U.S. is growing, rising by 2.2 million people in 2016, according to the latest Census data. But the population growth is not even across the country. For instance, the South and West saw their populations rise by 1.1 percent in 2016, while the Northeast and Midwest saw just a 0.1 percent uptick.

Eight states saw populations grow by more than 1.6 percent in 2016. Many of the fastest-growing states tend to be affordable, midsize cities with quality school systems, and have low unemployment, reports 24/7 Wall St., a financial news site.

24/7 Wall St. reviewed one-year populations for all 50 states from 2015 to 2016 Census data. (The population estimates listed are from July 1 of each year.)

The fastest growing states are:

1. Utah

  • 1-year population growth rate: 2.03%
  • Current population: 3.05 million
  • 2015 population: 2.99 million
  • 10-year population growth rate: 20.82%

2. Nevada

  • 1-year population growth rate: 1.95%
  • Current population: 2.94 million
  • 2015 population: 2.88 million
  • 10-year population growth rate: 16.55%

3. Idaho

  • 1-year population growth rate: 1.83%
  • Current population: 1.68 million
  • 2015 population: 1.65 million
  • 10-year population growth rate: 14.60%

4. Florida

  • 1-year population growth rate: 1.82%
  • Current population: 20.61 million
  • 2015 population: 20.24 million
  • 10-year population growth rate: 13.46%

5. Washington

  • 1-year population growth rate: 1.78%
  • Current population: 7.29 million
  • 2015 population: 7.16 million
  • 10-year population growth rate: 14.40%

6. Oregon

  • 1-year population growth rate: 1.71%
  • Current population: 4.09 million
  • 2015 population: 4.02 million
  • 10-year population growth rate: 11.51%

7. Colorado

  • 1-year population growth rate: 1.68%
  • Current population: 5.54 million
  • 2015 population: 5.45 million
  • 10-year population growth rate: 17.37%

8. Arizona

  • 1-year population growth rate: 1.66%
  • Current population: 6.93 million
  • 2015 population: 6.82 million
  • 10-year population growth rate: 14.96%

Meanwhile, the states that are seeing their populations shrink by the fastest amounts are: West Virginia and Illinois. West Virginia’s one-year population growth rate dropped by 0.54 percent; its 10-year population growth rate is projected to be 0.17 percent. Illinois saw its one-year population growth rate decline by 0.29 percent, but its 10-year population growth rate is 1.25 percent, according to the study.

View more detailed findings on the study.

Source: “The Fastest Growing (and Shrinking) States,” 24/7 Wall St. (Jan. 5, 2018)

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