Does North Dakota have Some of America’s Fastest Growing Cities?
The quick answer is YES! 24/7 Wall St crunched the numbers from 2010-2015 to rank the top 20 fastest growing cities in the United States.
There are a lot of factors which go into these numbers. Employment or the unemployment rate, housing and the cost of housing, and access to medical facilities and in many cases medical insurance.
It would be obvious, jobs are the main factor for people migrating from one area of the country to another. We know with the degrease in oil prices and production in the state, it would seem there are not as many opportunities as in the early years of the oil rush. It is worth pointing out again, this survey was conducted in the years of 2010-2015. With that said, North Dakota had 4 solid years of growth and productivity during this survey period which explains the results.
You can read more on the methodology here. The top cities for growth in the country are-
- The Villages, Florida. Much of this growth is spurred by retirees. Unemployment rate 7.3% and population growth (2010-2015), 26.11%.
- Midland, TX. More young people are moving to Midland area for jobs in the oil industry. Unemployment rate is 3.8% and population growth was 17.57%.
- Odessa, TX. This town is adjacent to Midland. The growth in Odessa is the same as Midland, the oil industry. Unemployment rate was 5.4% and population growth was 16.31%.
At #8 was Bismarck. The area enjoyed the benefit of the oil boom and some would say suffered with some of the highest rental rates in the country in the Bakken, (even with the Bakken oil fields about 3-4 hours away from Bismarck)which today, rental rates are more in line with the market standards with many more vacancies and all of a sudden, many new complexes love pets. The unemployment rate was 3.5% and the population growth 12.34%.
Fargo also figured in the top cities at #12.