According to Emmie Martin, writer for CNBC, though housing is scarce and wages are stagnant across the country, a lot of American cities are booming: They offer job opportunities, thriving businesses and an abundance of places to live. Of the top 15 boom towns in America, two towns are in Utah.
Personal finance site MagnifyMoney identified America’s biggest boom towns by analyzing how the 100 largest metro areas in the country changed over a five-year period (between 2011 and 2016) across three categories: population and housing; workforce and earnings; and business growth. Cities could earn a possible score of 100 in each category, which were then averaged together for the final ranking.
Cities could earn a possible score of 100 in each category, which were then averaged together for the final ranking. You can read the full methodology here in an article by Kalli McFadden.
The survey took into account factors such as total number of available housing units, unemployment rate, median earnings for workers, number of business establishments and number of employees paid per pay period to determine which metro areas aren’t just rapidly expanding but actually sustaining healthy growth over time.