The U.S Census Bureau has released new data which crunches on the population counts in 12 months upto July 1, 2013.
Top 10 Fastest Growing Cities:
This list is based on the analysis of the population growth data from the census bureau. The rankings are based on the largest percentage population growth in metro region having population of one million and above.
Austin tops the list with a population of 1.9 million and the growth is 2.6%.
Houston and Raleigh, N.C is placed second and third with a population growth of 2.2% with population 6.3 million and 1.2 million, respectively.
Orlando is placed fourth with a population growth of 2% and the population is about 2.3 million.
The fifth and sixth spots are grabbed by San Antonio and Denver with growth as 1.9% and the population is about 2.3 million and 2.7 million, respectively.
Seventh spot is snatched by Nashville with a population growth of 1.8% and population is 1.8 million. Charlotte, N.C. having population 2.3 million with a population growth of 1.8% took the eight spot.
The Oklahoma City is ninth in this list with a population of 1.3 million and growth rate of 1.7% while the tenth spot is taken by Phoenix having population of 4.4 million and growth rate is about 1.6%.
Austin Tops the List of Fastest Growing Cities:
The University of Texas in Austin is known for its computer science and engineering programs. This has produced opportunities for many local tech businesses. This has attracted a number of bigger tech companies to look for young talent in their recruitment drives.
The unemployment rate fell to 4.7% in the month of January.
The oil booms is the biggest reason which helped other cities to get into the top ten lists. The vast reserves of oil hovering updo $100 for a barrel and the new drilling techniques helped San Antonio, Houston and Oklahoma City reap the benefits of oil money.
In the meantime, some cities like Orlando and Phoenix are rebounding due to years of economic uncertainty.
Orlando is tied to tourism and last year recorded about 57 million visitors. This stat was higher compared to 43 million in the year 2009. This is an indication of the improving economy whereas phoenix was the hardest hit cities and ended up being on tenth position.
The foreclosure crisis is the major reason that resulted into Phoenix being ranked at tenth spot. Home prices are higher and the idle construction workers are back to rehabbing the once distressed properties.