Top 29 Market Report – 2023
Top 29 Market Report
Each year, we create a ranking of high growth markets in the US. The method through which we identify a market is somewhat novel and we believe it allows us to identify growth in a unique way, which is not limited by standard predefined geographies.
First we lay out our criteria, which looks as follows:
- Initial market size is at least 60,000.
- Minimum 2% per annum growth rate.
- Minimum 8,500 person growth rate.
- Emphasis on majority growth in the last 2 years.
- Limit the analysis to the Continental US.
Then we begin drawing 15 mile radius circles and continue this process until the entire US is covered. The resulting polygons with a continuous perimeter of all areas that satisfy this criteria are our qualified markets.
Our results are:
- Over 146,844 markets created
- Of the 146,844 (2022 figures in parenthesis), 32,966 (32,808) had a current base population > 60,000
- 15,347 (20,202) had a per annum growth rate > 2% or
- 2,056 (2,068) had a per annum pop growth > 8,500
- Only 1,198 had all three.
- Which in turn consolidates to 29 Markets
We created our own measure of market growth, ‘Market Force’, which contrasts the growth of housing values and population growth. We believe it tells a better story about the market’s strength down to the neighborhood level.
Market Force – The geometric mean of the growth in home values * growth in population
((HVcp / HV2007 ) * (PEcp / PE2007 )) ^0.5
1. Austin/SA Corridor
2. ~Douglas, CO
3. DFW Metro, TX
Check out how they compare on several key indicators: