A boomtown is a town or city that experiences a sudden and rapid population and economic growth. And lately, Texas is the place to go for jobs and economic opportunities.
MoneyMagnify, a personal finance company that provides consumers with free information, wanted to see which areas of the United States enjoyed massive prosperity in recent years. They examined data to find out which communities had the biggest growth from 2011 until 2016.
The study compared three main factors: growing industry, more people and housing, as well as growing workforce and employment opportunities. They utilized the Census Bureau’s American Community Survey (ACS) to assist them in their findings.
As far as the worst places for economic growth, the Northeast dominated the list for futility. Cities like Scranton, Syracuse, New Haven, Hartford, Providence. Ohio had three cities in the top 10 worst places that included Cleveland, Akron, and Dayton.
On the other end of the spectrum, Texas had one-third of the top 15 spots and six cities in the top 24 including with El Paso, Houston, McAllen, San Antonio, Dallas, and Austin at #1. Austin enjoyed nearly 16 percent population growth, 23 percent drop in unemployment, and a nearly 9 percent increase in median wages over the five years. If you need a job, you might want to think about relocating to Austin. Not to mention all the unbelievable barbecue you can enjoy.
[protected-iframe id=”ddce0c735de28e4f4976a3935658e2db-97886205-93291949″ info=”https://giphy.com/embed/xUOxeTxr8IruaTTK7u” width=”480″ height=”354″ frameborder=”0″ class=”giphy-embed” allowfullscreen=””]
The top five on the list include Nashville, Tennessee (Learn why you should visit); Charleston, South Carolina (Learn why you should visit); Raleigh, North Carolina; and Provo, Utah.
Here are the top 20 boomtowns, you can see the entire list on Magnify Money.
20. Seattle, Washington
Population and housing score: 45.9
Workforce and earning score: 45.6
Business growth score: 49.4
19. San Jose, California
Population and housing score: 39.4
Workforce and earning score: 53.4
Business growth score: 49.5
18. Salt Lake City, Utah
Population and housing score: 46
Workforce and earning score: 48
Business growth score: 52.7
17. Fort Myers, Florida
Population and housing score: 44.2
Workforce and earning score: 36.5
Business growth score: 66.8
16. Durham, North Carolina
Population and housing score: 55.9
Workforce and earning score: 42.2
Business growth score: 55.9
15. Des Moines, Iowa
Population and housing score: 59.7
Workforce and earning score: 42.8
Business growth score: 52.5
14. Orlando, Florida
Population and housing score: 55.7
Workforce and earning score: 33.1
Business growth score: 67.6
13. Charlotte, North Carolina
Population and housing score: 55.7
Workforce and earning score: 39.8
Business growth score: 64.2
12. Ogden, Utah
Population and housing score: 51.2
Workforce and earning score: 46.8
Business growth score: 63.3
11. Houston, Texas
Population and housing score: 77.7
Workforce and earning score: 41.9
Business growth score: 43.9
10. McAllen, Texas
Population and housing score: 60.3
Workforce and earning score: 62.2
Business growth score: 44.3
9. San Antonio, Texas
Population and housing score: 57.2
Workforce and earning score: 45.4
Business growth score: 64.5
8. Boise, Idaho
Population and housing score: 53.2
Workforce and earning score: 47.8
Business growth score: 67
7. Dallas, Texas
Population and housing score: 61.4
Workforce and earning score: 48.7
Business growth score: 64.4
6. Denver, Colorado
Population and housing score: 52.2
Workforce and earning score: 58.3
Business growth score: 65.3
5. Nashville, Tennessee
Population and housing score: 54.5
Workforce and earning score: 54.6
Business growth score: 72.9
4. Charleston, South Carolina
Population and housing score: 66.9
Workforce and earning score: 60.6
Business growth score: 71.7
3. Raleigh, North Carolina
Population and housing score: 84.1
Workforce and earning score: 48.3
Business growth score: 70.8
2. Provo, Utah
Population and housing score: 79.9
Workforce and earning score: 52.2
Business growth score: 95.1
1. Austin, Texas
Population and housing score: 100
Workforce and earning score: 70.3
Business growth score: 93