When it comes to large metropolitan areas, the New York metro area, which includes New York City as well as Newark and Jersey City, has a GDP that surpasses all others, growing from $1.2 trillion in 2001 to nearly $1.6 trillion in 2019. The Los Angeles-Long Beach-Anaheim, California area follows in second.
Of course, for the many who aren’t interested in moving to a big city, you might be surprised to learn there are plenty of booming economies in the U.S. that don’t involve homes with million-dollar+ price tags and miserable traffic congestion.
A suburb of Dallas, located about 30 miles north, Frisco is one of the fastest growing cities in the U.S., with major employers like Raytheon Space & Airborne and Baylor Medical Center. It’s known for its business-friendly atmosphere, landing eighth on a ranking of America’s “most business-savvy cities” in one recent study.
Frisco consistently ranks high as a place to live, work, and play with a mean household income of more than $153,700 and plenty of ways to spend it with outdoor concert venues, video game museums, and close proximity to Dallas-Fort Worth for catching a pro sports game. Plus there are two major airports making it easy to jet off to just about anywhere. Affordable and family-friendly, it grew 71 percent between 2010 and 2020.
While cities in the Midwest are often overlooked in rankings of the strongest markets, with growth rates typically more modest as compared to large metropolitan areas, Indianapolis has been booming. That comes in part to strong job creation in its western and southern regions with helped boost population growth. In fact, when comparing the employment level to the pre-pandemic total, it falls in at No. 2 in the country among the top 50 largest metros based on population.
The star in Indianapolis’ recovery is its job growth in restaurants and bars, whereas most areas have experienced a significant negative impact when it comes to food services and drinking places. Plus, unemployment is lower at 3 percent, as compared to the nation’s 3.9 percent unemployment rate.
Indianapolis-Carmel-Anderson metro area has one of the hottest housing markets. With the median sales price for a home at $220,000, it’s well worth taking a look at Indianapolis houses for sale now.
Idaho’s third-largest city has become one of the most popular places to move to, especially among those in states with a high cost of living like California. The economy continues to be strong, with many major employers in the area. The headquarters for Blue Cross of Idaho is located in Meridian, and CitiCorp, a multinational investment bank and financial services corporation, has a call center here. It’s a major area employer known for its excellent workplace culture and benefits.
While the strong economy and the high number of people moving in have been causing prices to rise, it’s still more affordable than major cities on the west and east coasts. Plus, a wealth of outdoor adventure can be enjoyed close by while the state’s capital city of Boise is less than 12 miles away.
Just 40 minutes south of Nashville, Murfreesboro has become an impressive modern city with a charming downtown area and lower-than-average home prices. A recent SmartAsset study named it No. 1 among America’s top boomtowns (fast-growing cities) based on the population, unemployment rate and the change in unemployment rate, GDP growth, housing and business growth, and change in household income.
Major employers include Middle Tennessee State University and Rutherford County Government, although the proximity to Nashville makes it easy to commute to employers there or in Smyrna, home to Nissan North America.
Located in the Phoenix metro area, Buckeye is home to major employers like American Express, Bank of America, and Banner Health. It’s also a great place for small local businesses, with more of a “hometown” kind of feel. While the region is popular among retirees, it offers something for all ages with easy access to great nightlife and outdoor adventures, including hiking, biking, and activities on the Gila River, like fishing.
Buckeye also benefits from the proximity to the Phoenix job market, yet it has a lower-than-average cost of living.
Anna Marikar, mum of four and seasoned blogger, has spent over a decade sharing her parenting journey and passion for kid-friendly crafts and free printables.
Her easy-to-follow craft ideas and practical parenting advice have transformed In The Playroom into a cherished resource for parents.