Greeley makes overall fastest-growing city list at No. 23.
File this under "not surprising news."
Wallethub has released its annual Fastest-Growing Cities in America list, and Colorado's Eastern Slope and Front Range is represented in a variety of categories.
If you live in the Denver metro area, then it's no shock that Denver is among the fastest-growing large cities in the country, coming in at No. 5 in the ranking. It finished behind 1) Austin, 2) Miami, 3) Seattle, and 4) Henderson, Nevada. Aurora also made an appearance on this list at No. 14, and Colorado Springs finished at No. 29.
Where it gets a bit more surprising is the sheer amount of Colorado towns around Denver and the I-25 corridor that are among the top 100 fastest growing overall and in their size categories.
Greeley, which has seen immense growth in the past few years, was ranked as the No. 23 overall fastest-growing city, regardless of size (Denver finished No. 37 on this overall list).
That ranking, among others, shows that many people aren't just moving into the metro areas. In fact, in the mid-size city category, Greeley ranked at No. 15, Thornton ranked No. 28, Fort Collins ranked No. 43, Arvada ranked No. 47, Centennial ranked No. 67, Lakewood ranked No. 70, and Highlands Ranch finished at No. 79.
The Front Range leads the way in the state for small-city growth, with Loveland ranking No. 16 and Longmont ranking No. 24.
As we've seen in Denver and other cities on the list, rapid growth comes with challenges that are hard to address, and many of them are not doing it particularly well. Those living in Denver can attest to the skyrocketing housing market and costs that aren't supported by salary levels. Residents and officials alike have expressed about planning for continued growth in the metro areas and the Front Range, and it appears to be an issue nationwide.
"High demand cities are struggling to provide affordable housing and transportation options. Accommodating growth while at the same time focusing on sustainable outcomes is challenging but necessary for long term vitality. This involves conscientious planning that considers all income levels. As we've seen, the market on its own has not adequately met these challenges," said one of Wallethub's panel of experts, Tom Sanchez, Ph.D., Professor of Urban Affairs and Planning at Virginia Tech.
Growth like this can particularly affect residents who were already in the area before the boom, an issue that Colorado is certainly facing.
"Local authorities should absolutely consider current residents when pursuing economic growth. If growth disproportionately benefits individuals that were nonlocals when the policy was implemented, was it truly a reflection of local priorities?" said Wallethub expert Russell R. Evans, Ph.D., Associate Professor of Economics, Executive Director, Steven C. Agee Economic Research and Policy Institute, Distinguished Fellow, E Foundation for Oklahoma, Oklahoma City University.
To assess the most rapidly growing local economies, WalletHub compared 515 cities of varying population sizes based on two key dimensions, sociodemographics and jobs and economy, and 17 relevant metrics. You can see the full results and more about the methodology on Wallethub.com.
What are your thoughts on Denver being ranked as one of the fastest-growing cities in the country? Sound off with your thoughts in the comments below.