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20 Mid-Sized Cities Added 50,000 or More Residents Since 2016
Despite popular narratives to the contrary, many metropolitan areas in the U.S. are still experiencing rapid growth. Even with the challenges of pandemic slowdowns, inflation, and housing shortages, some cities have managed to expand their populations significantly, attracting employers and boosting economic activity.
In this analysis, we examine mid-sized cities that have grown by 5% or more since 2016, adding between 50,000 and 100,000 new residents according to U.S. Census data. We also compare the credit characteristics of these “Boom Towns” to other U.S. cities. For more information on city population and credit trends, view our accompanying analysis of large U.S. cities.
Boom Towns: The Fastest-Growing Mid-Sized U.S. Cities
According to Census data, several mid-sized cities have seen significant growth in recent years. In nearly half of these cities, approximately 1 in 10 residents are new to the area.
Below are the 20 mid-sized U.S. cities, as measured by metropolitan statistical area, that added 50,000 to 100,000 residents since 2016. Most of these cities have populations between 500,000 and 1 million as of 2022. The influx of new residents is likely to both enrich and challenge these fast-growing municipalities as they adapt to increased revenue and public service demands.
Boom Towns: The Fastest-Growing Mid-Sized U.S. Cities
| City | 2022 Population | Percent Growth, 2016-2022 |
|---|---|---|
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 536,000 | 19.9% |
| Greeley, CO | 350,000 | 18.4% |
| Fayetteville-Springdale-Rogers, AR | 576,000 | 14.4% |
| Huntsville, AL | 514,000 | 14.4% |
| Cape Coral-Fort Myers, FL | 822,000 | 13.8% |
| Killeen-Temple, TX | 496,000 | 13.7% |
| Port St. Lucie, FL | 521,000 | 12.2% |
| Deltona-Daytona Beach-Ormond Beach, FL | 706,000 | 11.0% |
| Spokane-Spokane Valley, WA | 598,000 | 10.5% |
| Ogden-Clearfield, UT | 714,000 | 9.4% |
| Palm Bay-Melbourne-Titusville, FL | 631,000 | 9.3% |
| Des Moines-West Des Moines, IA | 729,000 | 8.6% |
| Greenville-Anderson, SC | 959,000 | 8.4% |
| Stockton, CA | 793,000 | 8.2% |
| Knoxville, TN | 908,000 | 7.5% |
| Colorado Springs, CO | 765,000 | 7.5% |
| Salt Lake City, UT | 1,266,000 | 6.9% |
| Richmond, VA | 1,339,000 | 6.4% |
| Oklahoma City, OK | 1,459,000 | 6.3% |
| Omaha-Council Bluffs, NE-IA | 977,000 | 5.8% |
Boom Towns, Booming Credit Scores
Since 2016, Boom Towns have seen their average FICO® Scores increase by an average of 21 points, surpassing the nationwide average increase of 15 points. This indicates a positive trend in credit health among residents of these rapidly growing cities.
Average FICO® Score Change Since 2016 by City
| City | Average FICO® Score, 2016 | Average FICO® Score, 2022 | Change (Points) |
|---|---|---|---|
| Cape Coral-Fort Myers, FL | 695 | 720 | +25 |
| Colorado Springs, CO | 701 | 722 | +21 |
| Deltona-Daytona Beach-Ormond Beach, FL | 687 | 710 | +23 |
| Des Moines-West Des Moines, IA | 715 | 730 | +15 |
| Fayetteville-Springdale-Rogers, AR | 693 | 709 | +16 |
| Greeley, CO | 703 | 725 | +22 |
| Greenville-Anderson, SC | 672 | 706 | +34 |
| Huntsville, AL | 697 | 714 | +17 |
| Killeen-Temple, TX | 663 | 681 | +18 |
| Knoxville, TN | 696 | 715 | +19 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 681 | 712 | +31 |
| Ogden-Clearfield, UT | 711 | 733 | +22 |
| Oklahoma City | 684 | 700 | +16 |
| Omaha-Council Bluffs, NE-IA | 713 | 729 | +16 |
| Palm Bay-Melbourne-Titusville, FL | 699 | 718 | +19 |
| Port St. Lucie, FL | 694 | 714 | +20 |
| Richmond, VA | 694 | 714 | +20 |
| Salt Lake City | 702 | 726 | +24 |
| Spokane-Spokane Valley, WA | 707 | 728 | +21 |
| Stockton, CA | 678 | 704 | +26 |
| All U.S. Consumers | 699 | 714 | +15 |
Boom Towns Are Local Magnets
In most cases, the fast-growing mid-sized cities are attracting residents from within the same state. However, many of these cities are also receiving new residents from larger nearby cities, which are also experiencing rapid growth. The difference is that larger cities tend to attract more out-of-state residents, while mid-sized Boom Towns often draw from within the state.
Most Common Sources of New Residents Since 2016
| Source City | Boom City | Boom Town |
|---|---|---|
| New York City | Charlotte, NC | Charleston, SC |
| Los Angeles | Seattle | Spokane, WA |
| Miami | Orlando, FL | Deltona, FL |
Boom Towns Show Economic Resilience Before and After the Pandemic
Experian’s analysis of population and credit score data from both before and after the pandemic reveals that these Boom Towns were already experiencing significant growth well before 2020. Nearly all of the 20 Boom Towns identified by Experian were also considered economically “resilient” metros, according to a recent Brookings Institution study. This means these metros exhibited above-average economic growth both prior to and following the pandemic in 2020.
Although some new residents of these Boom Towns may have arrived recently, economic data from these metros indicate above-average growth in local GDP, wages, and employment well before 2020.
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