Where Does Rockford Rank on the List of Fastest Growing Cities in the US?
Since the Great Recession, it's been a very tough comeback for many, many communities across the nation, Rockford included. For some, that comeback has been slow and steady, but for others...not so much.
The personal finance website, WalletHub just wrapped up an in-depth analysis of 515 American cities across 14 "key metrics" to determine which cities are moving right along, and which ones are having trouble gaining traction. We'll be taking a look at their "midsize" city rankings, as they also produced an analysis of large and small cities, too. Here's what WalletHub looked at:
Experts might not agree on the “best” or the “right” recipe for rapid economic growth, but some cities have figured out the key ingredients and how to stir the pot just right to sustain long-term prosperity. Patterns emerge within those cities, allowing us to identify the contributing factors that perpetuate a lasting cycle of growth.
But the quick path toward success is not as cut and dried for every city. In order to identify the fastest growing local economies, WalletHub’s analysts compared 515 U.S. cities of varying population sizes based on 14 key indicators of rapid economic growth. Our data set — from a period spanning 2009 to 2015 — ranges from “population growth” to “unemployment rate decrease” and “growth in regional GDP per capita.”
Here are The Top Ten Fastest Growing Midsize Cities in the U.S. (name followed by ranking on a 1-100 scale):
- Frisco, TX (66.57)
- League City, TX (66.18)
- Lehigh Acres, FL (66.04)
- Kent, WA (64.09)
- Surprise, AZ (63.43)
- Meridian, ID (63.37)
- Midland, TX (62.83)
- McKinney, TX (62.66)
- Concord, NC (61.82)
- Bryan, TX (60.52)
As for Rockford's numbers, our overall rank, out of the 515 cities studied, is #500.
Pace of Economic Growth in Rockford (1=Fastest Growing; 124=Avg.)
- 500th – Population Growth
- 256th – Median Household Income Growth
- 443rd – Job Growth
- 44th – Poverty Rate Decrease
- 59th – Regional GDP Growth
- 333rd – Unemployment Rate Decrease
- 492nd – Growth in Number of Businesses
- 486th – Full-Time Jobs Increase
- 500th – Working-Age Population Growth
- 509th – Median House Price Growth