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Top 5 Fastest Growing Cities for Home Builders

growing cities

growing cities

Top 5 Fastest Growing Cities For Home Builders

Consider Choosing One of These Metro Areas for Your Next Home Build

What are the fastest growing cities in the U.S. and how can builders grow their businesses and cash in on these rapidly growing population centers?

The U.S. Census Bureau released its 2015 findings for the fastest growing cities in the country, but it’s not the only entity crunching numbers. The list below combines findings from that Census study with some interesting insights from a Realtor.org study.

The list focuses on major cities like Houston and Los Angeles, but it’s clear that the surrounding metro areas are also growing quickly. As you read think about whether your next home build could take place in one of these areas.

1. Houston, Texas

The Lone Star State is, hands down, leading the country in terms of population growth. Four of the top 20 cities in the Census count were in Texas, including the state’s biggest metro area: Houston.

The Houston-The Woodlands-Sugar Land metro area grew by 159,00 between July 1, 2014, to July 1, 2015. No state income tax and a booming business environment are two big draws that bring newcomers to Texas. Houston is also a sprawling spot, so you should have choices when it comes to purchasing property.

2. Dallas-Fort Worth, Texas

Texas’ two largest metro areas gained more residents during the Census population study period than any other metro area in the country. The Dallas-Fort Worth metro area alone grew by 145,000 residents from 2014 to 2015.

Dallas boasts sleek high rise apartments, but the area also has a surprising number of quaint townhomes on pleasant tree-lined streets, proving that city living isn’t the only choice. According to Realtor.org, the projected five-year household growth rate is an impressive 14.9%.

3. Atlanta, Georgia

Head east and you’ll find another metro area that’s experiencing massive population growth. Atlanta added more than 95,400 people to its roster from 2014 to 2015.

Gregg Simon, the city’s vice president of economic development, summed the city’s appeal up well, explaining, “Atlanta offers a variety of assets: a diverse economy and range of businesses, a competitive business climate and global and domestic access from Hartsfield-Jackson Atlanta International Airport — with nonstop flights to approximately 150 U.S. destinations and nearly 70 international destinations.”

Combine those factors with an affordable cost of living and it’s easy to see why building in Atlanta could be lucrative.

4. Phoenix, Arizona

The Phoenix area is growing, too. Realtor.org signals out the suburban town of Gilbert in particular, placing it in the top spot for growth and calling it “a family’s suburban dream come true.” The projected five year housing growth rate is estimated to be 15.9%.

Another bonus for families are the top-notch schools, like Centennial Elementary. That particular school was ranked number one in the entire state in 2013.

5. Los Angeles, California

The Census Bureau and Realtor.org are in agreement that the Los Angeles area’s population is rising. With more than 85,600 people added to the population from 2014 to 2015, and a projected five year household growth rate of 8.8%, the data certainly supports the claim.

In particular, the revitalization of downtown L.A. is drawing in plenty of newcomers. Neighborhoods like Chinatown, Little Tokyo, Elysian Park and Mission Junction are some of the current hotspots that builders should analyze. If you’re concerned about space in a dense area like L.A., don’t worry too much — working with small home lots can be easier than it seems.

Whether you’re building in L.A. or Houston, Home Warranty Service Agreements and Structural Warranties can protect builders across the country from unforeseen repairs and replacements. They can even help protect against structural issues in builds. Visit 2-10.com to find out more!