Recently released county and metro-level population growth data by the U.S. Census Bureau shows that the fastest growing areas are found in exurbs and emerging suburbs.
Analysis of the data by Cushman & Wakefield shows population growth in all areas since the 2020 census, with the exception of urban cores that have had declining numbers. In 2022, however, the rate of decline in urban counties slowed significantly, buoyed by the resumption of international migration following the Covid pandemic.
The Dallas–Fort Worth metroplex grew by roughly 170,000 residents, outpacing the metro area with the second largest population gains, Houston, by nearly 50,000 people. The New York metro region saw its population shrink by about 139,000.
Since the 2020 Census, Austin, Texas and Raleigh, N.C., rank as the two fastest growing metros on a percentage basis among major markets.
Here are Cushman & Wakefield's five takeaways from its recent analysis of the census, as authored by Sam Tenenbaum, Head of Multifamily Insights:
- Further-flung counties, those in Exurbs and Emerging suburbs, saw their population grow the fastest, with the former growing by 1.9% and the latter by 1.5%. These areas continue to accelerate population gains.
- All districts saw population gains with the exception of Urban Cores. However, with international migration making a big rebound in 2022, those counties saw the biggest change in population, stemming the tide of major population declines experienced from 2020-2021.
- Urban cores saw 70% of international migration among major U.S. counties in 2022 but high costs pushed more residents out, with domestic migration outflows of more than 1.1 million people.
- Mirroring the urban core rebound, Gateway markets largely saw the largest turnaround in population growth with New York, San Francisco, King County (Seattle) and Miami representing the biggest change in population growth from 2021 to 2022. New York and San Francisco still saw net population losses, but they were much limited than 2021.
- The Dallas–Fort Worth metroplex grew by roughly 170,000 residents, dwarfing No. 2 Houston by nearly 50,000 people. On the other hand, the New York metro division saw its population shrink by about 139,000. Since the 2020 Census, Austin, TX and Raleigh, NC rank as the two fastest growing metros on a percentage basis among major markets.
Related Stories
Engineers | May 3, 2017
At first buoyed by Trump election, U.S. engineers now less optimistic about markets, new survey shows
The first quarter 2017 (Q1/17) of ACEC’s Engineering Business Index (EBI) dipped slightly (0.5 points) to 66.0.
Market Data | May 2, 2017
Nonresidential Spending loses steam after strong start to year
Spending in the segment totaled $708.6 billion on a seasonally adjusted, annualized basis.
Market Data | May 1, 2017
Nonresidential Fixed Investment surges despite sluggish economic in first quarter
Real gross domestic product (GDP) expanded 0.7 percent on a seasonally adjusted annualized rate during the first three months of the year.
Industry Research | Apr 28, 2017
A/E Industry lacks planning, but still spending large on hiring
The average 200-person A/E Firm is spending $200,000 on hiring, and not budgeting at all.
Architects | Apr 27, 2017
Number of U.S. architects holds steady, while professional mobility increases
New data from NCARB reveals that while the number of architects remains consistent, practitioners are looking to get licensed in multiple states.
Market Data | Apr 6, 2017
Architecture marketing: 5 tools to measure success
We’ve identified five architecture marketing tools that will help your firm evaluate if it’s on the track to more leads, higher growth, and broader brand visibility.
Market Data | Apr 3, 2017
Public nonresidential construction spending rebounds; overall spending unchanged in February
The segment totaled $701.9 billion on a seasonally adjusted annualized rate for the month, marking the seventh consecutive month in which nonresidential spending sat above the $700 billion threshold.
Market Data | Mar 29, 2017
Contractor confidence ends 2016 down but still in positive territory
Although all three diffusion indices in the survey fell by more than five points they remain well above the threshold of 50, which signals that construction activity will continue to be one of the few significant drivers of economic growth.
Industry Research | Mar 24, 2017
The business costs and benefits of restroom maintenance
Businesses that have pleasant, well-maintained restrooms can turn into customer magnets.
Industry Research | Mar 22, 2017
Progress on addressing US infrastructure gap likely to be slow despite calls to action
Due to a lack of bipartisan agreement over funding mechanisms, as well as regulatory hurdles and practical constraints, Moody’s expects additional spending to be modest in 2017 and 2018.
