Boise, Idaho is enjoying some of swiftest growth in the country. In 2017, it exceeded expansion expectations by nearly every metric that matters. Its population of around 220,000 grew 3.08% in 2017, more than any other major metro. Employment increased
3.58%, the second strongest growth around. Home prices, a proxy for wealth, increased 11.58%--number four in the U.S. Meanwhile, wage and the broader economic growth far outpaced national averages.
All this earns the city and the surrounding metropolitan area the no. 1 spot on Forbes' 2018 list of America's fastest-growing cities. Moody's Analytics--which provides the data for this annual project--is forecasting that Boise will continue its growth
spurt this year, albeit more modestly.
While Boise "is not necessarily a place you would associate with really robust growth," notes Adam Kamins a senior economist at Moody's, "it's got the pieces in place. It's got the location, it's got low cost, a healthy tech presence."
In fact, Kamins argues that Boise is benefiting from a third wave of tech dislocation. First there was the San Francisco Bay Area, next up were places like Seattle and Denver. As more people get priced out of housing in those cities, they are looking
to more affordable places like Boise and Austin, Texas (no. 8 on our list).
(It's likely no coincidence that Boise also earned a spot on our 2017 list of the Best Cities For Young Professionals.)
Meanwhile, cities from other areas of the South and the West make up most of the rest of the list. Florida dominates our list with seven of the 25 fastest-growing cities, more than any other state. The reason? Demographics. As the U.S. population ages,
more people are moving to the state's longstanding retiree havens. Texas comes in second with five cities, thanks in part to demographics and in part to demand from tech companies.
For the methodology and trends behind this list, Forbes gets their data from Moody's Analytics. The five key areas include; population, employment, wages, output and home values.
Article Courtesy of Forbes, Business, #Economy
"America's Fastest Growing Cities 2018
February 28th, 2018