People love Florida. They just keep coming. Whether it’s the big metro areas, or smaller cities like Cape Coral, Fort Myers, or Naples, they keep coming. But it’s not just Florida. Some of the fastest growing cities are located out west, in Texas and Arizona. Even Boise, Idaho is seeing some big gains as well. But let’s start with where people are leaving.
The Fastest-Declining Cities
Financebuzz created a metric to measure cities in decline. They analyzed data from 2019-2022 such as population change and unemployment rate. They also looked at personal income, new businesses, vacancies, home values. Plus another metric which can show a city in decline – percentage of the population that is in debt collections.
San Francisco is listed as the fastest declining city in the US. Even with the recent “homeless cleanup” that went down earlier this month, San Francisco can’t avoid that since 2019, according to Financebuzz, the city’s population has dropped by 8.29%. Home values are increasing below the national average, plus new home construction and new business openings are below average. New Orleans, and New York round out the top 3 US cities in decline.
Where are the Fastest Growing Cities located?
Topping the list for the fastest growing city in the US is a city with just over 200,000 people in the Dallas-Fort Worth Area. It’s Frisco, Texas. They can’t build houses fast enough there (which sounds very familiar to us in Florida). Over 2,200 new homes per 100,000 people were built there last year. An incredible amount considering just 3.5% of housing is vacant. Texas is booming, but if you’re really looking for a hotspot, 3 of the top 5 cities on this list are suburbs of Phoenix, Arizona.