Katrina Campins, a business host and real estate expert, shared her thoughts on the possible effects of Zohran Mamdani’s potential mayoral leadership in New York City during a segment on “Varney & Co.”
Interestingly, the South has become home to several rapidly expanding metropolitan areas in the U.S. This comes from a recently published report by LendingTree, which highlighted that Texas and Florida dominate as the top states with eight of the country’s ten biggest boom towns.
The report noted that four southern states made it into the top ten fastest-growing cities, alongside some appearances from western states like Colorado.
Florida particularly shines, taking half of the top ten spots in the rankings.
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LendingTree identified the ten fastest-growing metros using various economic indicators, such as median incomes from 2021 to 2023, gross domestic product changes, population data, housing statistics, and labor market metrics.
So, what’s at the top of the list? According to the findings, the fastest growth was noted in the following five metros.
Austin, Texas
Aerial images of Austin show the skyline as seen on April 11, 2023. The city’s performance in the job market has secured it the top spot for the second consecutive year, as reported by the Wall Street Journal. Not only did Austin take first overall for growth, but it also excelled in “people and housing” and “business and economy” categories, with an impressive 14.6% jump in its GDP between 2021 and 2023.
Orlando, Florida
Orlando came in second and achieved the highest scores in job and revenue categories.
Northport, Florida
Northport, located in southwest Florida near Sarasota, demonstrated notable growth in GDP, housing, and population over the reported period.
Nashville, Tennessee
Nashville, the capital of Tennessee and well-known as Music City, ranked as the fourth fastest-growing city, achieving an overall score of 69.5.
Cape Coral, Florida
Cape Coral saw a 12.3% increase in its annual GDP from 2021 to 2023, making a significant advancement in the “Business and Economy” category. The metro area is situated across the river from Fort Myers.
The remaining five fast-growing metros included Colorado Springs, Colorado; Charleston, South Carolina; Lakeland, Florida; Deltona, Florida; and Denver, Colorado.
LendingTree emphasized Florida’s strong presence among the top ten due to favorable tax laws, educational institutions that supply a workforce, and business-friendly policies.
In total, the analysis covered 100 of the largest metropolitan areas in the country, revealing that most, except for one, experienced decreasing unemployment rates from 2021 to 2023.
