Over the past decade, U.S. cities have experienced rapid growth, due, in large part, to major economic shifts that have affected income levels. These booming economies are attracting a growing number of out-of-state homebuyers looking for new job opportunities and more affordable housing markets.
The fastest growing city in the U.S., as of 2021, was Enterprise, Nev., which saw its total population rise from 129,620 in 2016 to 219,566 in 2021 and its median household income jump from $69,572 to $84,298 during the same period, according to Forbes. But not all U.S. metros have seen their regional household income growth keep pace with population growth.
Just because a city is a hotspot for population growth doesn’t necessarily mean incomes grow too.
Of the top 50 fastest growing cities in America, No. 3 Buckeye witnessed the largest growth in median household income over the last five years: From $58,711 in 2016, it rose by 44%, to reach $84,568 in 2021. The No. 22 fastest growing city — Menifee, California — experienced the second biggest growth rate, with its median household income increasing by 40.2%, from $57,598 in 2016 to $80,741 in 2021. Out of the 50 fastest growing cities, 14 of them have experienced a growth in median household income of 30% or more over the last five years.
PB Topical Ref
