3 min

10 Fastest Growing US Cities

Aug 25, 2022
in a nutshell
  • Six of the top 10 boomtowns are in Oregon, Washington, and Idaho.
  • Stash away a bit of money at a time until you reach your goal if you’re looking to relocate to a new city/state.
  • The fastest growing city in the U.S. in 2021 was Murfreesboro, Tennessee.
Image of Here’s a list of the top 10 fastest growing U.S. cities in 2021, along with some tips if you’re looking to relocate to a new city/state.
in a nutshell
  • Six of the top 10 boomtowns are in Oregon, Washington, and Idaho.
  • Stash away a bit of money at a time until you reach your goal if you’re looking to relocate to a new city/state.
  • The fastest growing city in the U.S. in 2021 was Murfreesboro, Tennessee.

SmartAsset analyzed 2021 data for 500 of the largest cities, including population change, unemployment rate, change in unemployment rate, GDP growth rate, business growth, housing growth, and change in household income, to find the places where the outlook is rosy.

Cities in Washington State dominate the list, with three in the top 10. Vancouver, for instance, ranks well for its growing number of businesses and housing options. Bellingham stands out in terms of five-year population change and average yearly GDP growth. And Seattle ranks in the top 10% of cities for five-year population change, the number of new housing units, and median household income increased growth.

Top 10 Fastest Growing Cities in the U.S. 

Based on the data, here are the top 10 boomtowns in the U.S.

10. Seattle, Washington

5-year population change: 11.84%

Average yearly GDP growth: 7.02%

5-year change in number of establishments: 8.12%

5-year housing growth rate: 14.64%

August 2021 unemployment rate: 4.8%

Total score: 91.6

9. Bellingham, Washington

5-year population change: 9.95%

Average yearly GDP growth: 8.25%

5-year change in number of establishments: 8.9%

5-year housing growth rate: 10.87%

August 2021 unemployment rate: 5.2%

Total score: 91.67

8. Vancouver, Washington

5-year population change: 5.45%

Average yearly GDP growth: 6.06%

5-year change in number of establishments: 16.36%

5-year housing growth rate: 11.8%

August 2021 unemployment rate: 4.8%

Total score: 92.12

7. Tempe, Arizona

5-year population change: 11.88%

Average yearly GDP growth: 3.77%

5-year change in number of establishments: 11.96%

5-year housing growth rate: 17.34%

August 2021 unemployment rate: 4.7%

Total score: 92.34

6. Bend, Oregon

5-year population change: 18%

Average yearly GDP growth: 5.35%

5-year change in number of establishments: 22.51%

5-year housing growth rate: 20.47%

August 2021 unemployment rate: 4.4%

Total score: 93.78

5. Mount Pleasant, South Carolina

5-year population change: 13.53%

Average yearly GDP growth: 3.3%

5-year change in number of establishments:16.5%

5-year housing growth rate: 18.65%

August 2021 unemployment rate: 3.8%

Total score: 95.45

3. Conroe, Texas (Tie)

5-year population change: 26.03%

Average yearly GDP growth: 8.67%

5-year change in number of establishments: 20.36%

5-year housing growth rate: 36.69%

August 2021 unemployment rate: 5.5%

Total score: 97.56

3. Meridian, Idaho (Tie)

5-year population change: 31.4%

Average yearly GDP growth: 5.5%

5-year change in number of establishments: 18.24%

5-year housing growth rate: 27.52%

August 2021 unemployment rate: 2.5%

Total score: 97.56

2. Nampa, Idaho

5-year population change: 15.2%

Average yearly GDP growth: 6.27%

5-year change in number of establishments: 28.53%

5-year housing growth rate: 13.82%

August 2021 unemployment rate: 3%

Total score: 99.54

1. Murfreesboro, Tennessee

5-year population change: 19.62%

Average yearly GDP growth: 3.71%

5-year change in number of establishments: 15.95%

5-year housing growth rate: 21.15%

August 2021 unemployment rate: 3.4%

Total score: 100

Six of the top 10 boomtowns are in Oregon, Washington, and Idaho, according to the study. From 2014 to 2019, the total number of new homes built grew between 8% and 10% in Bend, Oregon, Vancouver, Bellingham, and Seattle.

Close to half of the cities on the list overall are at full employment.

Want to relocate? 

If you’re planning to relocate for better income prospects, or another financial reason, experts advise stashing away a bit of money at a time until you reach your goal.

“The best thing you can do is build a budget,” says Ann Martin, director of operations of CreditDonkey. If not, “you’ll get blindsided by all sorts of costs along the way.”

Take a month to really look at where you are spending your money, adds realtor Tony Mariotti, the CEO of RubyHome. “Then start cutting accordingly. You know you can’t change fixed costs like housing, but you may be able to shave some dollars from grocery bills or weekend vacations.”

Take those “chunks of money and squirrel them away before they ever hit your checking account, redirect that money straight into a savings account.”

″Don’t move unless you have a job lined up,” Martin adds. “I know it’s tempting to move now and work out details later, but that can work out pretty badly if the job hunt takes longer than expected. Also, make sure to visit the place first and ensure that you like it.”

This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Article contributors are not affiliated with Acorns Advisers, LLC. and do not provide investment advice to Acorns’ clients. Acorns is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.

Shawn M. Carter

Shawn M. Carter was a writer for Grow.

Acorns Logo
Acorns
Over 11 million sign ups
Get started Get the app