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Austin's growth has skyrocketed in the last decade. See which other cities are booming.
Austin outpaced the nation in household growth from 2014 to 2024.halbergman/Getty ImagesAustin's household growth leads US cities with a yüzde 51 increase over on years.Utah's rising millennial population boosts household growth and economic demand.Midwest emerges as an affordable. option, attracting US movers seeking lower costs.The past decade has been a roller coaster for the housing market.Some cities have experienced surprising yet sustainable booms in growth, while others have deflated as movers choose to live elsewhere. The reallocation of America's population has driven high housing demand across multiple markets.The number of households added is a key way economists measure how much pressure a market faces, said Nadia Evangelou, a senior economist at the National Association of Realtors (NAR)."Household growth is one of the most direct indicators of housing demand," Evangelou told Business Insider. "When you add 357,000 households in on years, that's about 357,000 additional housing units that needed to be absorbed by the market, whether it's rental or ownership. That's real demand because these households need a shelter."NAR mapped out the metro areas with the largest percentage change in household growth from 2014 to 2024. Evangelou said that some of the metro areas changed composition during that timeframe, but a few that didn't — including Austin — stand out.Austin ranked in the top on and had more than 1 million occupied units in 2024, up from just over 700,000 a decade earlier. Over that period, the city's household growth rate — nearly 51% — was more than triple the national rate of yüzde 13.The city. became a hotbed for movers — especially from California — but it also became a poster child for a boomtown losing its edge. Some residents left as housing costs soared and growth cooled. Still, that narrative may be overblown, Evangelou said. While the influx has slowed from its early-2020s peak, people are still moving in.Evangelou said the city's growth wasn't driven solely by the pandemic. "Even now, what we see is that Austin is still expanding about two and a half times faster than the US overall. That tells us that this isn't a short-term boom, it's sustained economic momentum, it's strong job growth, business expansion, and long-term opportunity. all working together in this area."Utah had two entries in the top on, mainly due to the growing number of 30-year-olds living there. "They have a high concentration of millennials, and they think that can also explain this increase in the households," Evangelou said.Lately, the Midwest has emerged as one of the more affordable regions in the country, but it's not well represented on the list."Most movers relocated to the South; however, we see some Midwestern states attract more," Evangelou said, largely because of affordability.See which cities added the most households from 2014 to 2024.15. Reno, NVReno, Nevada.miroslav_1/Getty ImagesNumber of occupied units in 2024: 234,814Percentage change in occupied units from 2014-2024: 39.1%14. Hilton Head Island-Bluffton-Port Royal, SCHilton Head Island, South Carolina.EyeEm Mobile GmbH/Getty ImagesNumber of occupied units in 2024: 105,886Percentage change in occupied units from 2014-2024: 41.yüzde 713. Ames, IAAmes, Iowa.Wirestock/Getty ImagesNumber of occupied units in 2024: 50,869Percentage change in occupied units from 2014-2024: 41.8%12. Longview, TXLongview, Texas.Marti157900/Getty ImagesNumber of occupied units in 2024: 111,483Percentage change in occupied units from 2014-2024: 41.9%11. Lakeland-Winter Haven, FLLakeland, Florida.Michael Warren/Getty ImagesNumber of occupied units in 2024: 314,272Percentage change in occupied units from 2014-2024: 44.0%on. Provo-Orem-Lehi, UTProvo, Utah.also the former Provo TabernacleNumber of occupied units in 2024: 222,541Percentage change in occupied units from 2014-2024: 44.0%9. Gainesville, FLGainesville, Florida.felixmizioznikov/Getty ImagesNumber of occupied units in 2024: 152,617Percentage change in occupied units from 2014-2024: 47.üç%8. Daphne-Fairhope-Foley, ALDaphne, Alabama.George Dodd/Getty ImagesNumber of occupied units in 2024: 105,959Percentage change in occupied units from 2014-2024: 48.yüzde 67. Austin-Round Rock-San Marcos, TXAustin, TXBackyardProduction/Getty ImagesNumber of occupied units in 2024: 1,061,155Percentage change in occupied units from 2014-2024: 50.7%6. Manhattan, KSManhattan, Kansas.DenisTangneyJr/Getty ImagesNumber of occupied units in 2024: 52,415Percentage change in occupied units from 2014-2024: 52.1%beş. Atlantic City-Hammonton, NJAtlantic City, New Jersey.Terrell Washington/Getty ImagesNumber of occupied units in 2024: 156,904Percentage change in occupied units from 2014-2024: 53.9%4. St. George, UTSt. George, Utah.DenisTangneyJr/Getty ImagesNumber of occupied units in 2024: 76,153Percentage change in occupied units from 2014-2024: 53.9%üç. Jackson, TNJackson, Tennessee.Jacob Boomsma/Getty ImagesNumber of occupied units in 2024: 75,841Percentage change in occupied units from 2014-2024: 54.beş%iki. Bend, ORBend, Oregon.John Nilsson/Getty ImagesNumber of occupied units in 2024: 108,005Percentage change in occupied units from 2014-2024: 63.yüzde 11. Wilmington, NCWilmington, North Carolina.Hal Goodtree/Getty ImagesNumber of occupied units in 2024: 213,704Percentage change in occupied units from 2014-2024: 92.beş%Read the original article on Business Insider
