Special Report

America’s Fastest Growing Cities

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10. Raleigh-Cary, NC
> 2010-2019 pop. change: +23.0% (+260,292)
> 2010-2019 median home value increase: 37.4% — 96th highest out of 383 MSAs
> 2010-2019 employment increase: 31.2% — 14th highest out of 383 MSAs
> 2019 unemployment: 3.4% — 163rd lowest out of 383 MSAs

The Raleigh, North Carolina, metro area is today home to over a quarter of a million more people than it was in 2010. The 23% population growth over that period was driven largely by migration, while natural population change accounted for about one-third of total growth.

As is often the case in rapidly growing cities, North Carolina’s capital city reported robust job growth as its population ballooned. Overall employment climbed by 31.2% between 2010 and 2019 in the metro area compared to the 13.3% job growth nationwide over the same period.

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9. Provo-Orem, UT
> 2010-2019 pop. change: +23.0% (+121,367)
> 2010-2019 median home value increase: 61.7% — 24th highest out of 383 MSAs
> 2010-2019 employment increase: 41.0% — 4th highest out of 383 MSAs
> 2019 unemployment: 2.4% — 14th lowest out of 383 MSAs

Provo-Orem is the second fastest growing metro area in Utah and the ninth fastest growing nationwide. The local population grew by 23%, or 121,400 people, between 2010 and 2019. Unlike most rapidly growing U.S. metro areas, population growth in Provo has been driven by natural change rather than net migration. Historically, Utah has had one of the highest fertility rates of any state.

Economic conditions in the Provo metro area make it a relatively financially secure place to start a family. The typical area household earns $79,152 a year, far more than the $65,712 national median household income. Additionally, the unemployment rate in the area of 2.4% is well below the 3.7% national rate.

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8. Cape Coral-Fort Myers, FL
> 2010-2019 pop. change: +24.5% (+151,822)
> 2010-2019 median home value increase: 63.7% — 23rd highest out of 383 MSAs
> 2010-2019 employment increase: 36.0% — 9th highest out of 383 MSAs
> 2019 unemployment: 3.1% — 115th lowest out of 383 MSAs

The Cape Coral-Fort Myers metro area is one of several along Florida’s Gulf Coast to report near nation-leading population growth between 2010 and 2019. The total population grew by 24.5% over that period.

Like other rapidly growing metro areas in the Sunshine State, the Cape Coral metro area offers an ideal climate for many, and residents are not subject to a state income tax. Between 2010 and 2019, 152,300 more people moved to the metro area than moved out.

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7. Bend, OR
> 2010-2019 pop. change: +25.3% (+39,964)
> 2010-2019 median home value increase: 58.6% — 30th highest out of 383 MSAs
> 2010-2019 employment increase: 32.0% — 13th highest out of 383 MSAs
> 2019 unemployment: 3.9% — 242nd lowest out of 383 MSAs

Bend is the fastest growing metro area in Oregon and seventh fastest growing nationwide. Between 2010 and 2019, the number of people living in Bend increased by 25.3%. Over that period, employment in the metro area climbed by 32% — making it one of the fastest growing job markets in the country. Still, the annual jobless rate in Bend of 3.9% is slightly higher than the 3.7% national rate.

The population surge in Bend has likely contributed to skyrocketing property values. The typical area home is worth $413,500, 58.6% more than in 2010.

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6. Greeley, CO
> 2010-2019 pop. change: +28.3% (+71,665)
> 2010-2019 median home value increase: 101.0% — the highest out of 383 MSAs
> 2010-2019 employment increase: 38.3% — 6th highest out of 383 MSAs
> 2019 unemployment: 2.5% — 19th lowest out of 383 MSAs

There were nearly 72,000 more people living in the Greeley, Colorado, metro area in 2019 than there were in 2010. The increase, driven primarily by inbound migration, has likely contributed to a nation-leading increase in home values. The typical home in Greeley is worth $366,800, more than double the median value in 2010.

One of the primary reasons Americans move is for job opportunities, and in Greeley, unemployment is low. Just 2.5% of the labor force were out of work in 2019, well below the 3.7% national unemployment rate.