A market correction is leading to significant price drops in overheated metros across the U.S., but even in a housing slowdown, some markets are still seeing substantial growth. The West and South dominate the top 50 boomtowns in America with strong population, business, and housing growth.
After posting consistent growth from 2016 to 2021, Nampa and Meridian, two Idaho metros, are the fastest growing cities in 2022, according to SmartAsset. Ranking third on the list is Murfreesboro, TN, where housing units have increased by 31.47% over the last five years and income has increased by 41.95% in the same time period.
Murfreesboro, Tennessee ranks in the top 15 cities for its five-year increases in housing units (31.47%) and population (19.38%). Workers in the city have also seen a 41.95% increase in income over the same time period (29th-best). The area encompassing Murfreesboro ranks 34th-best for its business growth between 2015 and 2020 (15.13%).
Advertisement
Related Stories
Housing Markets
5 Housing Markets That Would See a Huge Increase in Homeownership if Mortgage Rates Dropped
Spokane, Wash., would experience an 11.4% increase in affordability if rates dropped to 6%
Housing Markets
Spring Housing Markets: Which Markets Saw the Most Appreciation, and Which Saw the Least?
Florida metros saw the weakest appreciation of all housing markets in the US
Business Management
How 2023's Housing Market Conditions Are Affecting the 2024 Market
Last year ended on an optimistic note, but persistent headwinds still exist to keep 2024 from getting the housing market back to pre-pandemic levels