7 Valley cities rank in Top 100 Boomtowns in America

7 Valley cities rank in Top 100 Boomtowns in America

Article Originally Posted by AZBigMedia on December 5, 2022

Metro Phoenix is doing extremely well when it comes to the Top Boomtowns in America rankings for 2022. Seven Valley cities are ranked in the Top 100 in SmartAsset‘s annual list. Here are the Arizona cities that are among the Boomtowns in America:

No. 17. Peoria

No. 25. Goodyear

No. 30. Surprise

No. 37. Chandler

No. 49. San Tan Valley

No. 59. Gilbert

No. 63. Mesa

Economic uncertainty has been a top concern for most Americans over the past several months, and many experts predict that financial struggles will continue into the new year. However, despite the many challenges Americans have faced nationwide, there are some U.S. cities that have managed to grow in recent years.

In a new study, SmartAsset uncovered the fastest-growing cities in the U.S. We analyzed data for 494 of the largest cities across topics measuring growth of the population, income, GDP, businesses, housing and changes in unemployment. For more information on our data or how we put together our findings, read the Data and Methodology section below.

This is SmartAsset’s 2022 edition on the top boomtowns in America. Check out the previous version here.

Key Findings

• The West and South dominate the top 50. In fact, there isn’t a city outside of those two regions until No. 52 (Jersey City, New Jersey). The top 10 highest-ranking cities in the West and South perform well for population, business and housing growth and rank in the top quintile across the study.

• People are flocking to Enterprise, Nevada. From 2016 to 2021, the population in Enterprise grew by over 75%, helping it rank in the top fourth of our study overall – at No. 117. Three other cities grew by more than 30% during the same time period (New Braunfels, Texas; Meridian, Idaho and Goodyear, Arizona).

• In 22 boomtowns, the housing market grew by more than 24% in a five year span. From 2016 to 2021, the number of housing units grew by only 4.75% nationally. This figure is significantly higher for two of our top-ranking cities: Meridian, Idaho and New Braunfels, Texas. From 2016 to 2021, the number of housing units increased by 39.23% and 4.86% in those two cities, respectively.