Nashville ranked 8th fastest growing city in the U.S. as South sees influx of migration


Nashville ranked 8th fastest growing city in the U.S. as South sees influx of migration

By BROOKE WANSER

Nashville has been ranked the 8th fastest growing large city in the county by personal finance website Wallethub.

The Census Bureau reported last year that eight of the top 15 fastest growing cities were in the South, including Atlanta, Austin, and Charlotte.

This year, Wallethub ranked cities based on growth and city size.

In the large city category, Nashville ranked eighth behind Austin, Miami, Seattle, Charlotte, Denver, Fort Worth and Henderson, Nevada. For mid-size cities, Murfreesboro also ranked eighth.

In the overall rankings, Nashville was 43rd. Here are Nashville-specific rankings among the 515 U.S. cities included.

  • 114th – Population Growth
  • 81st – Median Household Income Growth
  • 100th – Job Growth
  • 139th – Poverty Rate Decrease
  • 33rd – Regional GDP Growth
  • 236th – Unemployment Rate Decrease
  • 27th – Growth in Number of Businesses
  • 111th – Working-Age Population Growth
  • 112th – Median House Price Growth

Though Franklin was not on Wallethub’s list, it received the distinction of being listed the eighth fastest growing city in the country by the Census Bureau, which designated it a “large city,” with a population of 50,000 or more.

Methodology

Wallethub researchers compared 515 cities in the U.S. on two measures: sociodemographics and jobs and the economy.

Data from 2010 to 2017 was utilized from the U.S. Census Bureau, the Bureau of Labor Statistics, Bureau of Economic Analysis, National Venture Capital Association, and Renwood RealtyTrac, an online marketplace of foreclosed homes.

They categories cities into the following dimensions:

  • Large cities: More than 300,000 people
  • Midsize cities: 100,000 to 300,000 people
  • Small cities: Fewer than 100,000 people

Sociodemographic ranking took into account the population’s age, working age population growth, and college-educated population growth.

Jobs and the economy accounted for job growth, increase in the ratio of full-time over part-time jobs, median household income growth, and unemployment rate decrease. Foreclosure rate, and poverty rate decrease were also a factor, as was growth in regional GDP and increase in businesses, startups, and venture capital investment.

Nashville ranked 40th for jobs and the economy, and 68th for sociodemographics.

About The Author

Brooke Wanser is the associate editor for the Franklin Home Page, and can be reached at brooke.wanser@homepagemediagroup.com. Follow her on Twitter at @BWanser_writes or @FranklinHomepg.

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