ARIZONA NEWS

3 Valley cities among the top 5 ‘fastest-rising’ cities in the country

Dec 1, 2023, 4:25 AM | Updated: 8:00 am

Gilbert Regional Park is among the amenities that make Gilbert one of the nation's fastest-rising p...

Gilbert Regional Park is among the amenities that make Gilbert one of the nation's fastest-rising places. (Facebook Photo/Gilbert Regional Park)

(Facebook Photo/Gilbert Regional Park)

PHOENIX — Three Valley cities ranked in the top-5 of FinanceBuzz’s “fastest-rising” cities across the U.S.

Gilbert ranked No. 2, Chandler was slotted at No. 3 and Glendale placed No. 5.

Arizona cities were littered throughout the list of fastest-rising cities, with Mesa coming in at No. 13, Scottsdale at No. 20 and Phoenix at No. 26.

Frisco, Texas, was ranked as the nation’s fastest-rising city.

San Francisco, California, New Orleans, Louisiana and New York City are the fastest-declining cities in the United States.

What criteria was used to rank the fastest-rising cities in the U.S.?

FinanceBuzz tracked growth and decline by looking at a three-year period starting with 2019 and ending with 2022. Every U.S. city with a population larger than 200,000 in 2019 was included, for a total of 117 cities.

FinanceBuzz then compared the cities across the following eight dimensions and evaluated the variables by using weighted averages:

  • Population change (2019 to 2022).
  • Unemployment rate change (2019 to 2022).
  • Per capita income increase compared to peer cities (2019 to 2022).
  • New home construction per capita.
  • Number of new businesses opened relative to the population.
  • Percentage of homes that are vacant.
  • Home value increase compared to peer cities (2019 to 2022).
  • Percentage of residents with debt in collections.

How did the Valley cities make it near top of fastest-rising list?

Gilbert has a vacant housing rate of only 2.9% and home values there have risen 77% faster than the national average since 2019.

Chandler has a housing market very similar to Gilbert and the unemployment rate in Chandler has fallen by 0.6% in the last three years, while nearly 30,000 new businesses per 100,000 people opened in 2022.

Glendale saw the biggest increase in home values in the country between 2019 and 2022. Home values in Glendale have risen 82% faster than in peer cities.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Monsoon...

David Veenstra

Arizona gets $10.3M in federal funding to restore ecosystem

The U.S. Department of the Interior is investing $10.3 million to restore Arizona's lands and waters this year.

2 hours ago

(City of Glendale Photo)...

KTAR.com

Police search for suspect after 2 people were shot in Glendale

Police are searching for a suspect who allegedly shot two people in Glendale early Saturday.

4 hours ago

(Facebook Photo/Scottsdale Police Department)...

KTAR.com

4 people stabbed during early-morning melee at Scottsdale bar

A suspect is in custody after four people were stabbed early Saturday during a violent altercation at a bar in Scottsdale.

6 hours ago

Paella featuring lobster tail, jumbo prawns, diver scallops, mussels, chorizo, arborio rice, Englis...

David Veenstra

Westin Kierland Resort & Spa in Scottsdale opens new restaurant Faro & Brag

The Westin Kierland Resort & Spa opened its new restaurant, "Faro & Brag," in Scottsdale featuring modern cuisine and outdoor seating.

7 hours ago

View of midtown Phoenix. (Phoenix Business Journal Photo)...

Audrey Jensen/Phoenix Business Journal

Phoenix seeks applicants to turn vacant land into mixed-use development

The city of Phoenix is seeking developers for several infill parcels it owns for new housing and commercial projects.

7 hours ago

Velvet Road is one of the four performances as part of Peoria's Music in March concert series. (Peo...

Arin Ducharme

Music in March concerts return to Peoria every Sunday

Music in March at Paloma Community Park returns to Peoria. The concerts will take place at Paloma Community Park near Lake Pleasant Parkway.

8 hours ago

Sponsored Articles

...

Midwestern University

Midwestern University Clinics: transforming health care in the valley

Midwestern University, long a fixture of comprehensive health care education in the West Valley, is also a recognized leader in community health care.

...

Day & Night Air Conditioning, Heating and Plumbing

Day & Night is looking for the oldest AC in the Valley

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.

(KTAR News Graphic)...

Boys & Girls Clubs

KTAR launches online holiday auction benefitting Boys & Girls Clubs of the Valley

KTAR is teaming up with The Boys & Girls Clubs of the Valley for a holiday auction benefitting thousands of Valley kids.

3 Valley cities among the top 5 ‘fastest-rising’ cities in the country