Phoenix Is The Fastest Growing City in the US
Real estate investors should always be aware of new and emerging markets. For this reason, you might be interested to learn that Phoenix and Buckeye are two of the fastest-growing cities in the United States.
According to the U.S. Census Bureau, Phoenix gained the most new residents of any city in the country from July 1, 2017, to July 1, 2018. This influx of over 25,000 residents brought Phoenix’s total population to 1,660,272 as of 2018.
Buckeye, on the other hand, grew at the fastest rate of any city in the country with a population of at least 50,000. Buckeye had an impressive growth rate of 8.5% from July 1, 2017, to July 1, 2018.
Why should you care?
Identifying growing markets is a great way to find new real estate investment opportunities.
Phoenix & Buckeye: Watch for Opportunities
Phoenix and Buckeye should be on your radar for cities with potential investment opportunities.
As these cities continue to grow, real estate values have the potential to increase at a rapid rate. As a real estate investor, it’s important to try to find opportunities before these values start to increase so that you can start making renovations and preparing to flip the property.
According to Chamber Business News, Deanna Kupcik, president and CEO of the Buckeye Valley Chamber of Commerce, said, “Our housing market has gone sky-high, and we’re issuing more permits now than we did back in ’07, when it was at its peak before,” Kupcik said. “We’ve got good builders, lots of room to build, and so that’s… what it is, and it’s a wonderful place to live.”
Phoenix, on the other hand, is an increasingly popular city for millennials, thanks to its great weather, amazing quality of life, and affordable housing options. In addition, there are a number of great opportunities for education and employment.
Thanks to these factors, it’s likely that Phoenix and Buckeye will continue to experience significant growth over the next several years. As such, it’s important to watch for real estate investment opportunities in these areas.
Fastest-Growing Cities by Percentage Increase
Buckeye tops the list of fastest-growing cities by percentage increase, but what are the others?
The top ten are as follows:
- Buckeye, AZ
- New Braunfels, TX
- Apex, NC
- Frisco, TX
- Meridian, ID
- McKinney, TX
- Georgetown, TX
- Rowlett, TX
- St. Cloud, FL
- Ankeny, IA
Remember, these are the fastest-growing cities by percentage increase, not the total population increase. These should be looked at primarily as small, emerging markets.
Fasting-Growing Cities by Numeric Increase
While Buckeye is the fastest-growing city by percentage, Phoenix tops the list of fastest-growing cities by numeric increase.
The top ten for this list is as follows:
- Phoenix, AZ
- San Antonio, TX
- Fort Worth, TX
- Seattle, WA
- Charlotte, NC
- Austin, TX
- Jacksonville, FL
- San Diego, CA
- Denver, CO
- Frisco, TX
These cities are the locations which experienced the largest increase in population between July 1, 2017, and July 1, 2018. Frisco, TX stands out, in particular, as it is the only city to appear in the top ten of both lists.
By paying attention to the continued growth of these cities, you may be able to identify new, exciting real estate investment opportunities in the future.