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WalletHub recently took a look at which US cities are currently seeing the most rapid economic growth.
The study analyzed 515 cities of different population sizes based on 17 metrics that measure a city's performance over a seven-year period. The metrics include unemployment rate decrease, population growth, and median household income growth, among others.
All 17 metrics were weighted to create a final score between 0 and 100 for each city.
The list singles out the South and the West as the fastest-growing regions.
Rapid economic growth plays a key part in what makes up-and-coming cities attractive potential landing spots. WalletHub recently analyzed 515 US cities to identify the locales that experienced the highest levels of economic growth over the last seven years.
Each city received a final growth score between 0 and 100 based on 17 relevant metrics. The metrics fell into categories representing sociodemographics or jobs and economy, including: population growth; college-educated population growth; job growth; median household income growth; growth in homes with $75,000+ annual income; decrease in unemployment rate; increase in number of businesses; and growth in regional GDP per capita.
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The 25 cities that scored the highest are scattered across 12 states, most of which are clustered in the South and the West. Texas leads the list, appearing on the list seven times; Florida is close behind, with five cities ranked among the top 25.
Keep reading for a look at the fastest-growing US cities. They are ranked below in ascending order of final score.
Brandon is a small city with a population just over 100,000. It's about 13 miles east of Tampa.
23. Greeley, Colorado
Total score: 64.7
Job and economy rank: 5
About 50 miles north of Denver, Greeley is a small city with a population of roughly 107,000.
22. Spring Valley, Nevada
Total score: 65.42
Job and economy rank: 121
Spring Valley has a population of 200,000 and sits right between Las Vegas and Red Rock Canyon. It was also just named one of the best places to live in the US.
The focal point of College Station is Texas A&M University, which houses the George H.W. Bush Presidential Library and Museum. It has a population of 116,000.
Cape Coral is adjacent to Fort Myers, which is also on this list, and has a population of 189,000.Business Insider previously reported that Cape Coral has a high percentage of vacation homes.
Saint George has a population of 171,000. It also has a healthy job market with an unemployment rate at 2.8%, the lowest it has been in the city since 2007. SkyWest Airlines is headquartered in Saint George.
Fort Myers, a popular beach home destination, has a population of 82,000 and serves as the headquarters of the women's retailer Chico's and the clinical laboratory Neogenomics.
5. Frisco, Texas
Total score: 74.25
Job and economy ranking: 155
Frisco is part of the Dallas metro area and has a population of 188,000. The median home value in Frisco is $396,800, making it one of the best cities to buy a home in right now.
Enterprise has a population just over 108,000. It is near Las Vegas and in addition to being one of the fastest-growing cities in the US, it is also a popular choice for buying a vacation home. Business Insider previously reported that 7.04% of the homes in the area are secondary homes.
3. Bend, Oregon
Total score: 78.1
Job and economy rank: 4
Bend has a population nearing 98,000, and its long-term growth has been impressive. According to the 2000 census, Bend had a population of 52,000 almost 20 years ago.
Mount Pleasant, just across the bridge from Charleston, has a population just over 89,000.According to the Post and Courier, that's a 27.5% increase since 2010.
Lehigh Acres is a predominantly residential area near Fort Myers and Cape Coral, which are also on this list. It has a population of nearly 118,000. According to Data USA, Lehigh Acres recently saw a 6.77% growth in employees and a 6.98% growth in the median household income.
