Boomtown is Booming, According to Census Bureau
Have you noticed an influx of people in Houston from out of town? Your instinct isn’t wrong. According to a recent survey issued by the U.S. Census Bureau, the population of eleven major metropolitan areas is growing at a pace of more than 1,000 people per week. The federal agency released July 2016 estimates for 382 metropolitan areas and 3,142 counties across the nation.
How does Houston rank in this census?
At the top of the list was the Houston-The Woodlands-Sugar Land metropolitan area. This area saw an impressive population growth from April 2010 at 5.92 million, to July 2016 at 6.77 million. This staggering growth has the Houston area set at a population increase of 2,612.3 people per week.
Which other cities had a population increase?
Second on the list was the Dallas-Fort Worth area with a weekly net gain of 2,474.6 people. The rest of the top five included New York City, Atlanta, and Miami-Fort Lauderdale. These metros all had population increases larger than 1,500 people per week.
Which cities experienced population decrease?
The census also marked which 11 major metros suffered from steep population declines during this six-year span. The Cleveland area suffered the most dramatic decline of 21,646 people between April 2010 and July 2016. This resulted in a total drop of 66.4 people per week.
This rapid increase in Houston’s population directly impacts our economy. This growth can be correlated with an increased need for space, creating an opportunity for those in the commercial real estate world. As new opportunities arise, you can depend on Adkisson Group to keep you informed of business outlook and CRE news.