Cape Coral among fastest-growing mid-sized cities

October 5, 2018 1:06 pm

Cape Coral is among the fastest-growing mid-sized cities in the United States.

The Waterfront Wonderland is 12th among fastest-growing mid-sized cities in the country and the 24th overall.

The ranking comes from the specialist financial website, WalletHub.

South ‘attractive place to move’

It says,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. Patterns emerge within those cities, allowing us to identify what factors contribute to a lasting cycle of growth. The South currently seems to be an attractive place to move, as the U.S. Census Bureau reports eight of the 15 cities with the largest population gains in 2017 were located in this region.”

Nearby Fort Myers is the fastest-growing small city in the country and came first overall.

To determine where the fastest local economic growth has occurred in the U.S., WalletHub compared 515 cities of varying population sizes based on “Sociodemographics” and “Jobs & Economy.” It used 15 key measures of both growth and decline over a period of seven years to evaluate the results.

The grading uses a 100-point scale. A score of 100 represents the fastest economic growth.

WalletHub examined everything from population growth to unemployment rate decrease to growth in regional GDP per capita. It determined each city’s weighted average across all metrics to calculate its overall score ranking.

Data for the ranking is collected from the U.S. Census Bureau, Bureau of Labor Statistics, Bureau of Economic Analysis, National Venture Capital Association and Renwood RealtyTrac.

For the purposes of the ranking, large cities include more than 300,000 people, midsize cities 100,000 to 300,000 people and small cities under 100,000 people.