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August 2017   Volume 43, Number 7      
 

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The 10 Fastest Growing Cities in the U.S.

According to a recent report from the Census Bureau, eight of the 10 fastest-growing cities in the U.S. are located in the South with the population in large southern cities increasing by an average of 9.4 percent. Cities in Texas claimed five of the top ten spots. While two cities in the West also made the list, the Northeast was noticeably absent from the list.

The list of 10 fastest growing cities in the U.S. was tabulated according to the population percent change from July 2015-July 2016 in cities and towns with populations of 50,000.

  1. Conroe, Texas: Conroe is a Houston suburb and was the fastest-growing city in the country last year with a reported population increase of 7.8 percent. The growth rate of Conroe was 11 times higher than the national average. Despite having a relatively low unemployment rate, nearly 20 percent of the population lives below the poverty line, according to the 2015 American Community Survey.
  2. Frisco, Texas: From July 2015 to July 2016, Frisco saw its population increase by more than 6 percent.
  3. McKinney, Texas: McKinney has experienced a population increase of 5.9 percent, making it the third fastest growing city in the U.S. Home prices in this Dallas suburb have been on the rise since 2016. The median home value in McKinney is $293,400, representing a nearly 8 percent increase in the past year.
  4. Greenville, S.C.: Greenville’s population has increased 5.8 percent. Cities in the South are growing at a faster rate than any other region in the country, according to the Census Bureau.
  5. Georgetown, Texas: Georgetown’s population has increased 5.5 percent. The city, which is located about 30 minutes from Austin, is home to Lake Georgetown. According to Zillow, the median home value in Georgetown is $261,800, an increase of 5.9 percent in the past year.
  6. Bend, Ore.: Bend has experienced a population increase of 4.9 percent. The median home value is up nearly 11 percent in the past year to $377,900, according to Zillow. Home prices in many markets in Oregon have been rising thanks to low inventory levels.
  7. Buckeye, Ariz.: Buckeye is a western suburb in Phoenix. Its population has increased 4.8 percent. Home prices in Phoenix also saw a 5.6 percent year-over-year increase in March, according to the latest S&P CoreLogic Case-Shiller Indices.
  8. Bonita Springs, Fla.: Bonita Springs is the fastest-growing city in Florida. It has experienced a population increase of 4.8 percent.
  9. New Braunfels, Texas: New Braunfels’ population has increased 4.7 percent. Homes in New Braunfels have also been selling at a faster pace recently. In March, the median number of days on the market for homes in New Braunfels was 69, down from 93 in February.
  10. Murfreesboro, Tenn.: Murfreesboro has seen a population increase of 4.7 percent. Located roughly 35 miles from Nashville, home values in Murfreesboro have risen 12.5 percent in the past year, according to Zillow.

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In this issue:

The 10 Fastest Growing Cities in the U.S.

3 Million First-time Homebuyers Shut Out of Home Market in Past Decade

America’s Hottest Real Estate Markets: May 2017

Home Prices Are Increasing, But Mortgages Are Still Cheap

Fed Announces Third Rate Hike in 7 Months

Industrial Real Estate Development Reaches 10 Year High

Real Estate Companies Are Moving to the Cloud

Mortgage Applications Down 12 Percent Since 2016

Why More Millennials Are Finally Buying Real Estate

Why More Real Estate Firms Are Now Offering Mortgages

 


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