As we are slowly recovering from the financial crisis, I found an interesting article by CNN Money on 10 fastest growing cities. The populations of these 10 cities grew faster than in any other major cities between 2012 and 2013 (Census Bureau)
1. Austin, Texas. Population: 1.9 million. The population grew by 2.6% (47,941)
2.Houston, Texas. Population: 6.3 million. The population grew by 2.2 % 137,782)
Jobs are mainly created by oil and gas surge. Houses are affordable too. The average home price is about $195,000, which is $10,000 less than the national average.
3. Raleigh, N.C. Population: 1.2 million. The population grew by 2.2% (26,012)
4. Orlando, Fla. Population: 2.3 million. The population grew by 2% (44,390)
5. San Antonio. Population: 2.3 million. The population grew by 1.9% (43,056)
6. Denver. Population: 2.7 million The population grew by 1.9% (50,782)
7. Nashville, Tenn. Population: 1.8 million. The population grew by 1.8% (31,153)
8. Charlotte, N.C. Population: 2.3 million. The population grew by 1.8% (40,368)
9. Oklahoma. City Population: 1.3 million. The population grew by 1.7% (22,280)
10. Phoenix. Population: 4.4 million. The population grew by 1.6% (71,130)
One of the major reasons of this rapid growth in population is jobs. More and more jobs are created in these cities. For example, University of Texas in Austin, a 50,000+ enrollment school known for its engineering and computer science programs, has been attracting a number of big tech companies such as Apple, Google, Facebook, and Intel. These companies try to recruit young talent. As a result, the unemployment rate fell to 4.7% from 5.2 in 2012. This also applies to Raleigh, N.C. for its research triangle area.
Another factor is affordable houses. In some of these cities, the median home prices are lower than the national average, which attracts more newcomers. Reasonable cost of living is also another reason that attracted many people to these cities. These cities will continue to grow because these factors will continue to affect the population level.