MReport November 2017

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 8 of 67

TH E M R EP O RT | 7 Source: WalletHub's 2017 Fastest Growing Cities in America City Growth Both Sides of the Coin A look at the top and bottom five fastest-growing cities in the U.S. T o find out the fastest-growing cities in America, WalletHub compared 515 different-sized towns based on 15 measures of growth and decline over the past seven years, including topics such as population growth, unemployment rate decrease, and growth in regional GDP per capita. When it comes to the rapid growth that some of these cities are experiencing, providing adequate public services, avoiding over - crowding schools and roads, and addressing housing shortages on top of the already high-demand and low inventory can be concerns. Additionally, supporting gentrification without displacing residents can be a challenge. On the opposite end of the spectrum, slow growth also presents problems. Among them are business decreases, and companies being unable to hire more employees, increasing unemployment in the town, and possible decreased funding for the renovation of public buildings. So, what's the answer? "There are a lot of tools and theories about economic development, but they don't work universally," Melanie Bowers, Assistant Professor of Political Science, Public Policy, and Administration at Rutgers University, Camden, said, "Cities have to figure out their individual assets and turn to the community for ideas and innovations." Top 5 Fastest- Growing Cities In addition to high population growth, the cities that make up WalletHub's fastest-growing list are also enjoying income, job, and GDP growth. While two of the cities are located in the Loan Star State, the rest dot across the U.S. Bottom 5 Fastest- Growing Cities Unlike their counterparts on the fastest-growing list, these cities are seeing increases in poverty, while GDP, job growth, and population sizes are shrinking. Unfortunately, cities in North Carolina earn this dubious honor twice. MDWELL Frisco, Texas Midland, Texas Meridian, Idaho Lehigh Acres, Florida Montgomery, Alabama Decatur, Illinois Shreveport, Louisiana Fayetteville, North Carolina Jacksonville, North Carolina Kent, Washington

Articles in this issue

Archives of this issue

view archives of TheMReport - MReport November 2017