The United States is rebuilding from the recession. Now, we see great economic growth, with high consumer confidence, lower unemployment, and more. However inevitably, some parts of the country have better economic growth than others. WalletHub, a personal finance website, studied the top cities for economic growth between 2009 and 2015. The study looked at 14 metrics, including population growth rate, college educated-population growth, growth in regional GDP per capita, and more. The full study can be found on their website here.
RE/MAX Paradise is excited that WalletHub ranked Miami as the second fastest growing city in Florida in their large city category. Five Florida cities made the overall top 30 list: Lehigh Acres (No. 3), Fort Myers (14), Brandon (16), Miramar (17) and Palm Coast (28). Other ranked cities in Florida:
Top 5 Florida cities by key index:
- Large cities with the most growth: Miami ranked second
- Highest population growth: Lehigh Acres tied for second
- Highest job growth: Fort Myers ranked third; Cape Coral ranked fifth
- Highest poverty rate decrease: Boca Raton ranked third
“Experts might not agree on the ‘best’ or the ‘right’ recipe for rapid economic growth, but some cities have figured out the key ingredients and how to stir the pot just right to sustain long-term prosperity,” WalletHub said in the study. “Patterns emerge within those cities, allowing us to identify the contributing factors that perpetuate a lasting cycle of growth.”
WalletHub asked several housing experts from across the country key questions about economic growth in cities. For their answers to questions like what challenges quickly growing cities face and more, check out WalletHub’s website.
To be amongst the top cities for economic growth is a great sign for any city. Miami continues to excel as an international hub of business and culture. Check out RE/MAX Paradise’s amazing properties in different areas of the city today!