Top 10 fastest-growing U.S. cities in 2022

Tech jobs are in flux, tourism is at an all-time high, and the populace across major U.S. cities is moving. An October report by the Kenan Institute of Private Enterprise, a business policy think tank, ranked the top 10 fastest-growing cities in the U.S.

The ranking considered every city’s county-level employment rates and economic output. Furthermore, the final list is a decent sign of where youngsters want to live and work and of what they value.

For example, Seattle — which ranked number three on the current year’s list — is becoming a leader in clean energy. The city is pushing ahead with plans to authorize new initiatives for cleaner buildings, as per the city’s mayor, Bruce Harrell.

The city is likewise home to tech giants like Amazon and Microsoft, and younger job-seekers are anxious to work for an organization that lines up with their qualities and has a vested interest in something like environmental advocacy.

Seattle likewise topped the list of cities where college students want to live after graduation, as per Axios and The Generation Lab’s 2022 Next Cities Index.

No. 1 fastest-growing city: San Francisco

Throughout the last 10 years, San Francisco has become synonymous with Silicon Valley, and after all this time, the city keeps on developing.

The tech hub beginnings in the southern part of the San Francisco Bay Area and incorporates different cities like San Mateo, Santa Clara, San Jose, Palo Alto, Cupertino, and Mountain View.

The shift to remote work after the pandemic hit made numerous people move out of the area. Furthermore, more recently some of the top tech organizations have declared hiring freezes and layoffs.

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Furthermore, however, the news emerging from Silicone Valley has caused San Francisco’s housing market to become one of the quickest declining in the country, the city actually landed the top spot with a 4.8% GDP growth in 2022.

Top 10 fastest-growing U.S. cities in 2022

1. San Francisco Bay Area
2. Austin, Texas
3. Seattle
4. Raleigh and Durham, North Carolina
5. Dallas
6. Denver
7. Salt Lake City
8. Charlotte, North Carolina
9. New Orleans
10. Orlando

The second city on the list is Austin, Texas, which has become home to significant organizations like Amazon, Google, Oracle, and Tesla, which have all recently extended their operations in the Texas city.

The mass departure from different metros, for example, the Bay Area has helped increment property values in Austin.

As per the Kenan Institute of Private Enterprise, the median home value expanded from $349,156 in August 2020 to $566,479 in August 2022. The average multifamily rent likewise rose from 10% year-over-year.