By Corina Vanek | Phoenix Business Journal
Tempe is among the top “boomtowns” in the country, according to a study by SmartAsset.
The study, which ranked cities based on population change, unemployment rate, change in unemployment rate, GDP growth rate, business growth, housing growth and change in household income, ranked Tempe seventh in the nation. Most of the metrics studied, except GDP and unemployment, were judged on the changes over five years.
According to the study, Tempe’s average yearly GDP growth was 3.77%, and its five-year population change was 11.88%. From 2014 to 2019, median household income increased by 40.7%, according to the study.
The study, which ranked the top 50 “boomtowns” for the year, also listed Mesa, which ranked 42nd. No Arizona cities ranked in 2019, the last year the study was done.
Murfreesboro, Tennessee, ranked No. 1 in the study, followed by Nampa, Idaho. Washington was the only state to have three cities in the top 10 in the ranking: Vancouver (No. 8), Bellingham (No. 9) and Seattle (No. 10).
