A 2024 study by CoworkingCafe, titled America’s Boomtowns: Top Cities for Economic Growth, has highlighted the fastest-growing cities in the country, with Mesa and Gilbert, Arizona, and Nampa, Idaho, leading the way. The analysis evaluated key economic and quality-of-life indicators, including GDP growth, employment rates, business activity, infrastructure investment, and population growth.
Mesa Leads Large Cities in Economic Expansion
Among cities with populations over 500,000, Mesa, Arizona, ranked as the top performer. Between 2018 and 2022, the city experienced a 38% increase in GDP, 2% employment growth, and a 34% rise in infrastructure investment. Mesa’s economic momentum has been driven by a strategic focus on diversifying industries, attracting major tech companies, and fostering job creation. Investments in transportation and public amenities have further enhanced the city’s appeal for businesses and residents.
Other large cities with strong economic growth include Fort Worth, Texas; Phoenix, Arizona; Sacramento, California; and Austin, Texas.
Gilbert Ranks First Among Mid-Sized Cities
In the mid-sized city category (250,000 to 500,000 residents), Gilbert, Arizona, secured the top spot thanks to its 38% GDP growth and a rapidly expanding community. The city’s population increased 10% between 2018 and 2022, fueled by a strong local economy and a high quality of life. Gilbert has become a top destination for families and businesses, offering excellent schools, parks, and a thriving job market.
Other top mid-sized cities for economic growth include Jersey City, New Jersey; Chandler, Arizona; St. Petersburg, Florida; and Stockton, California.
Nampa Leads Small Cities in Economic Growth
For cities with fewer than 250,000 residents, Nampa, Idaho, emerged as the top-performing small city. From 2018 to 2022, the city’s population grew 15%, supported by a strong local economy and low unemployment. Nampa recorded a 4% drop in unemployment, reaching just 3% in 2022. The city’s business-friendly policies and proximity to Boise have made it an attractive location for both entrepreneurs and new residents.
Other top small cities for economic growth include San Bernardino, California; Port St. Lucie, Florida; Murfreesboro, Tennessee; and Surprise, Arizona.
Gilbert Ranks First Among Mid-Sized Cities
In the mid-sized city category (250,000 to 500,000 residents), Gilbert, Arizona, secured the top spot thanks to its 38% GDP growth and a rapidly expanding community. The city’s population increased 10% between 2018 and 2022, fueled by a strong local economy and a high quality of life. Gilbert has become a top destination for families and businesses, offering excellent schools, parks, and a thriving job market.
Other top mid-sized cities for economic growth include Jersey City, New Jersey; Chandler, Arizona; St. Petersburg, Florida; and Stockton, California.
What This Means for Colorado’s Housing Market
While this study highlights rapid growth in cities like Mesa, Gilbert, and Nampa, these trends have implications for Colorado’s real estate market as well. As job markets expand and infrastructure investment increases in high-growth areas, housing demand follows—something we continue to see in Denver, Boulder, and other growing Colorado markets. Understanding how rising home values, population shifts, and economic expansion impact different regions can help buyers and sellers make informed decisions.
Whether you're considering a move, looking to invest, or evaluating market trends, Rally Real Estate is here to help you navigate the opportunities right here in Colorado.
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