Thanks to the hard work at the US Census Bureau, we now have the latest data on the highest growth rates in the US.
Where are they?
Take a look at the chart to see the top 15 Metros with 1 million or more that have the highest percentage increase of growth from July 07- July 08.
But the bigger question is why are they? What makes these cities so inviting to our nation's inhabitants?
Let's try to determine what they have in common first?
Location seems pretty random: SE, SW, West, NW and Rocky Mountain. We can at least determine that Great Plains, Great Lakes, and NE are lacking representation on our chart. Texas seems to make up 40% of the top 10.
Size tells us something. Notice approximately 10 of the MSA are between 1 and 2 Million in population. This could mean that people are looking for a smaller city with affordability and quality of life, but not wanting to give up the amenities that large Metropolitan areas have to offer. ie... International Airports, Employment Opportunities, Entertainment Franchises or Venues, etc...
Tax Leniency also may be a factor. 5 cities on our list have absolutely no income tax. 1 has income tax on stock and bond dividends only. 2 others have a low flat income tax. And one other has no sales tax.
Job Growth rates. Except for New Orleans, the same cities in this top 15 are also frequent players of high ranking metros for job growth percentages in previous years. For example Raliegh, NC, has consistently been on the top spot of many job growth lists since 2005. Therefore it is not surprising for it to be #1 on this list. What's most impressive though, is the 4.3% growth rate
The more money people can keep in their pocket combined with lower costs of living (including housing) and the ability to obtain and retain employment, are the real drivers to the population rates.
for the press release from US Census: http://www.census.gov/Press-Release/www/releases/archives/population/013426.html
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