American cities where business is flourishing and wages are rising
Although wages remain stagnant for many US workers, there are several cities around the United States where revenues increase.
Personal Finance Website GOBankingRates analyzed 347 US cities with populations of 500,000 or below, looking for places experiencing a combination of economic prosperity, population growth, and rising revenues. To rank the best "boomtowns" or cities that meet these criteria, the site looked at five-year data on population, housing, GDP, and per capita income from the US Census Bureau 2017 American Community and the Bureau of Economic Analysis. [1[ads1]9659002] These places are great options for people who want to avoid infamous expensive cities, such as New York or San Francisco, because they "offer incentives, such as a less expensive lifetime or a higher paycheck – or both" GOBanking rates reports.
Below, check out 15 US growing cities where the economy is flourishing and wages are rising.
15. Santa Cruz, California
Personal income growth, 2012 to 2017: 20.5%
Population growth, 2012 to 2017: 6.1%
GDP increase, 2012 to 2017: 23.3%
14 . Durham, North Carolina
Personal income growth, 2012 to 2017: 15.8%
Population growth, 2012 to 2017: 11.9%
GDP increase, 2012 to 2017: 14.8%
13 . Charlottesville, Virginia
Personal income growth, 2012 to 2017: 17.9%
Population growth, 2012 to 2017: 7.6%
GDP increase, 2012 to 2017: 22.4%
Historic Downtown Mall, Charlottesville, Virginia.
Richard Cummins Getty Images
12. Miami, Florida
Personal income growth, 2012 to 2017: 17.7%
Population growth, 2012 to 2017: 10.2%
GDP increase, 2012 to 2017: 29.4%
11. San Luis Obispo, California
Personal income growth, 2012 to 2017: 23.9%
Population growth, 2012 to 2017: 3.7%
GDP increase, 2012 to 2017: 26.2%
10. Sioux Falls, South Dakota
Personal income growth, 2012 to 2017: 13.2%
Population growth, 2012 to 2017: 10.3%
GDP increase, 2012 to 2017: 23.5%
Sioux Falls, South Dakota.
Denis Jr. Tangney | E + | Getty Images
9. Bismarck, North Dakota
Personal income growth, 2012 to 2017: 8.1%
Population growth, 2012 to 2017: 13.9%
GDP increase, 2012 to 2017: 23.7%
8 . Raleigh, North Carolina
Personal income growth, 2012 to 2017: 15%
Population growth, 2012 to 2017: 11%
GDP increase, 2012 to 2017: 33%
7. Fayetteville, Arkansas
Personal income growth, 2012 to 2017: 23.4%
Population growth, 2012 to 2017: 10.4%
GDP increase, 2012 to 2017: 37.6%
Residents enjoy Saturday morning Farmers Market on the square in downtown Fayetteville, Arkansas.
Wesley Hitt | Getty Images
6. Reno, Nevada
Personal income growth, 2012 to 2017: 26.5%
Population growth, 2012 to 2017: 5.9%
GDP increase, 2012 to 2017: 36.7%
5. Santa Rosa, California
Personal income growth, 2012 to 2017: 28.6%
Population growth, 2012 to 2017: 4.2%
GDP increase, 2012 to 2017: 33.8%
4 . Boulder, Colorado
Personal income growth, 2012 to 2017: 24.3%
Population growth, 2012 to 2017: 7.2%
GDP increase, 2012 to 2017: 22.3%
Sunrise over Boulder from other Flatiron. Boulder, Colorado.
Andrew Peacock Getty Images
3. Sebastian, Florida
Personal income growth, 2012 to 2017: 20.9%
Population growth, 2012 to 2017: 9.3%
GDP increase, 2012 to 2017: 23.5%
2. Santa Fe, New Mexico
Personal income growth, 2012 to 2017: 17.2%
Population growth, 2012 to 2017: 21.5%
GDP increase, 2012 to 2017: 9.5%
1. Naples, Florida
A woman smiling at the beach in Miami, Florida.
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