Here Are America’s Top 10 Boomtowns

Eight of America’s 10 top boomtowns are in the South, with Austin, Texas, leading the list, according to a new LendingTree analysis.

The study ranks the 50 largest U.S. metropolitan areas across eight economic measures, including population growth, new housing units, employment and earnings momentum, and new business starts. It follows a pandemic-era boom that drew many people to smaller markets for remote work and lower living costs; some of those cities are still growing even as employers call workers back to offices.

What Makes a Boomtown?

The highest-ranked metros tend to offer room for new residents, warmer weather, business growth and a lower cost of living than places such as New York or Los Angeles. Housing supply is one factor in the analysis, said Matt Schulz, chief consumer finance analyst at LendingTree.

Growth can bring trade-offs. Austin’s home values surged during the pandemic, then seesawed as homeowners struggled to sell. A building boom also left the rental market with more supply and falling rents.

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America’s 10 Top Boomtowns

These are LendingTree’s top 10 among the 50 largest metropolitan areas:

1. Austin, Texas: Ranked first for housing-unit growth from 2023 to 2024, at 3.4%, and for growth in new business applications, at 11.3%.
2. Raleigh, North Carolina: Ranked first in work and earnings, which includes labor-force growth, employment rate and median earnings.
3. Seattle: Ranked first in business and economy, which measures economic growth and new business activity.
4. Charlotte, North Carolina: Ranked sixth in people and housing, including population growth, housing construction and migration.
5. Tampa, Florida: Ranked second in work and earnings and fifth overall.
6. Phoenix: Ranked third in work and earnings.
7. Jacksonville, Florida: Ranked fourth in people and housing, with population growth.
8. Orlando: Ranked third in people and housing, with population up 4.3% from 2023 to 2024.
9. Houston: Ranked fifth in people and housing, with population growth from 2023 to 2024.
10. Nashville, Tennessee: Ranked 11th in business and economy, with strong business growth.

10 Metros at the Bottom of the Ranking

The study also named its lowest-ranked large metros. These cities placed near the bottom in at least one of the report’s categories:

• Memphis, Tennessee: Last in business and economy.
• Detroit: 49th in work and earnings.
• Buffalo, New York: 50th in people and housing.
• Milwaukee: 46th in business and economy.
• Providence, Rhode Island: 50th in work and earnings.
• San Diego: 47th in work and earnings and 41st in people and housing.
• St. Louis: 44th in people and housing.
• Los Angeles: 46th in people and housing.
• Chicago: 44th in work and earnings.
• Cincinnati: Ranked poorly in housing growth.

A high ranking does not guarantee an affordable housing market or a good fit for every household. The study combines several measures of growth, so anyone considering a move may want to compare local housing costs, job opportunities and personal needs as well.