Despite the accelerated pace of change that defines today’s developed societies, certain economic and social metrics reveal the level of achievement and progress that make some cities real magnets for talent, innovation, and continued growth. And, from this perspective, the West Coast seems like the place to be, according to a recent report released by real estate portal Point2 Homes ranking the most dynamic cities across the country.
To identify the fastest developing 150 U.S. cities, the analysts at Point2 Homes looked at 18 indicators across four main dimensions and attributed different scores to each indicator, on a 120-point scale.
The four dimensions considered were Human Capital, Education and Culture, Economic Activity, and Housing. Among the most relevant factors in these categories were population and median age changes, changes in income and GDP, job growth, changes in the unemployment and poverty rates, as well as the evolution of median home prices, number of vacant homes, and changes in school enrollment rates.
Newcomers Hot on the Heels of Established Dynamic Cities
Each of the success hubs that made it to Point2’s top 10 most dynamic cities boasts some noteworthy accomplishments, but it’s their overall score that secured them a spot among the most successful American cities.
To the surprise of no one, San Francisco leads the way with a whopping 92.78 points, followed by Seattle (92.35 points), Denver (91.62 points) and Aurora (91 points).
The West Coast is leading the pack when it comes to growth and progress, with California snatching 3 spots within the top 10, and no fewer than 30 spots in the full ranking.
Colorado and Texas have two cities each, and the ranking is closed by Atlanta and Miami, which boast impressive changes the number of jobs created and share in people with a college degree, respectively.
Different Cities Excel for the 18 Dynamic Cities Socio-Economic Factors Analyzed
The U.S. is quickly adapting to the technological advances and scientific innovations that relentlessly push it forward. And although the bigger, more established economic hubs of the nation steal the spotlight in the overall ranking, when it comes to the individual factors, different cities have different strong points.
Frisco and McKinney, both from Texas, saw the most significant increases in population, while Wichita, KS recorded the largest rise in movers from outside the city. The most notable decreases in median age were in Glendale, AZ; Salt Lake, UT; and Baton Rouge, LA. However, the youngest cities of the 150 urban centers included in the analysis are Tallahassee, FL; Laredo, TX; Fontana, CA; and Tempe, AZ – all these cities boast a median age well under 30.
When it comes to increases median income, Oceanside, CA; San Francisco, CA; and Santa Ana, CA take the first three spots of the dynamic cities for this metric. Decline in unemployment, another relevant metric, was most significant in Garden Grove, CA, followed by Port St. Lucie, FL and Mobile, AL.