Of the top fifteen fastest-growing cities in the U.S. today, twelve are in the West, according to the most recent statistics released by the U.S. Census Bureau.
Number one on the list was Phoenix, which has seen an increase of nearly 25,300 people in the year between July 2017 and July 2018 for a total population of 1.6 million.
Coming in number nine on the list is Denver, which added just over 11,000 more people during that same year, for a total population of 716,000.
The report also indicates strong Western growth in the nation’s housing stock, which overall increased by around 1.2 million units between 2017 and 2018 for a current total of more than 138 million housing units.
Utah registered as the fastest-growing state in the country with a 2.2 percent increase between 2017 and 2018, followed by Idaho at 1.9 percent, and Colorado and Texas, both with increases of 1.6 percent.
Crunching the latest Census figures, Forbes magazine noted that Phoenix attained its number one growth slot due to the “promise of good jobs and good pay” which has “attracted a diverse group of skilled professionals primarily 25 to 45 years old, many of whom are from other states or countries.”
Notes the Phoenix Business Journal: “With the influx of new people, the residential real estate market around Phoenix also has seen healthy activity, though apartment rents and home prices have surged, putting a strain on the area’s longstanding reputation as an affordable place to live.”
The publication added that, like many other cities in the West experiencing historic growth, Phoenix is increasingly seeing more homebuilders “pivot toward more affordable options.”
By Garry Boulard
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