The fastest growing cities in the U.S. are in Texas and Florida, according to U.S. Census data, but No. 9 in the top 10 is the lesser-known Enterprise, Nev.
Eight out of 15 cities with the largest population gains in 2017 were in the South, according to personal-finance website WalletHub's latest report on 2018’s Fastest-Growing Cities in America. Enterprise, Nev., came in ninth ahead of Irvine, Calif., rounding out the top 10 fastest-growing cities.
The fastest-growing cities in the U.S. are Fort Myers, Fla., Midland, Texas, Pearland, Texas, Bend, Ore., McKinney, Texas, College Station, Texas, Lehigh Acres, Fla., Mount Pleasant, SC, Enterprise, Nev., and Irvine, Calif..
The slowest-growing cities are Columbia, Md., Springfield, Ill., Waterbury, Conn., Montgomery, Ala., Cheektowaga, NY, Youngstown, Ohio, Lawton, Okla., Erie, Pa., Shreveport, La, and Decatur, Ill.
Enterprise, located in the Las Vegas Valley in Clark County, is an affluent unincorporated town with a population of 145,188 as of July 1, 2018, according to Census Designated Place (CDP) Index. In 2000, according to the U.S. Census, its population was less than 15,000.
The town falls under the governance of the Clark County Commission, whose chair, Steve Sisolak, beat its vice chair, Chris Giuchigliani, in the Democratic primary race for governor. Sisolak is running against Attorney General Adam Laxalt for governor in a race analysts describe as too close to call.
"Enterprise, Nevada is the ninth fastest growing city in the U.S. This is mostly due to the fact that it has one of the highest annual population growth increases at almost six percent," WalletHub analyst Jill Gonzalez told Watchdog.org. "All of the other Nevada cities we analyzed, including Henderson, North Las Vegas, Reno, Sparks, Las Vegas, Spring Valley, Sunrise Manor and Paradise, were also in the top half of the ranking."
WalletHub ranked the town third for its socio-demographics and 298th for jobs and economy. According to Nevada Hometown Locator, when compared to Nevada’s other 131 incorporated cities, towns and CDPs in Nevada, Enterprise ranks in the top quarter in five categories. It ranks seventh for population density, eighth for total population, 11th for diversity, 19th for median household income, and 37th for per capita income.
WalletHub compared 515 U.S. cities across 15 key metrics to identify the cities experiencing the most rapid local economic growth over a period of seven years. The data set ranges from population growth to college-educated population growth to unemployment rate decrease.
“Experts might not agree on the 'best' or the 'right' recipe for rapid economic growth, but some cities know the key ingredients for long-term prosperity better than others," WalletHub financial writer Adam McCann said. "Patterns emerge within those cities, allowing us to identify what factors contribute to a lasting cycle of growth.”
McCann notes that some cities thrive despite economic downturns while at the same time others struggle.
Frisco, Texas, had the highest population growth of 6.52 percent and the highest job growth of 6.12 percent, WalletHub reports.
Albany, Georgia, had the greatest population decrease of 1.52 percent. Peoria, Ill., saw the greatest job growth decrease of 1.27 percent.
Data used to create the report was derived from the U.S. Census Bureau, Bureau of Labor Statistics, Bureau of Economic Analysis, National Venture Capital Association and Renwood RealtyTrac.