Photo via City of Buckeye
By AZ Big Media
SmartAsset‘s newest study, “America’s New Boomtowns,” evaluated 400 U.S. cities to identify the 75 most booming municipal economies in the U.S. and seven Arizona cities were among the Top 50 boomtowns in the country. Cities were ranked based on five-year growth in labor force size, housing inventory, and GDP.
Economic growth can change a city quickly. An influx of new residents and expanding business activity creates visible momentum, even as rapid change brings new strains. In recent years, some American cities stand out for attracting people, investment and development at a pace that sets them apart. Boomtown status does not mean growth benefits everyone equally, but it does reflect a city’s expanding economic capacity and the new opportunities that come with it.
SmartAsset analyzed more than 400 U.S. cities with populations of 65,000 or more to identify places experiencing rapid growth. Each city received a composite score based on five-year changes in three factors: economic output, housing units and labor force size. The 75 highest-scoring cities represent America’s new boomtowns.
