Longmont, Denver, Greeley Among Top 10 Boomtowns in U.S.
Boom — take that other states (except for South Carolina and Texas, we're tied).
According to a new study by SmartAsset, Longmont, Denver, and Greeley have all ranked as some of the top 10 boomtowns, or areas characterized by prosperity and rapid growth, in the United States.
Longmont is the No. 1 boomtown in America due to its economic success, low unemployment rates, and a high housing growth rate.
Greeley comes in at No. 5 due to its population growth, which increased by almost 10% in the latter part of the decade. The town also boasts low unemployment rates and a flourishing economy.
Denver ranks at No. 7, tying with two South Carolina towns for the 35th lowest unemployment rate in the study. As an extra bonus, the unemployment rate even decreased this year by 0.6%.
Unsurprisingly, Denver has also seen huge population growth (about 8%) over the years, which has led to a high housing growth rate.
In order to determine these rankings, the study observed data from 500 of America's largest cities, searching for population changes, unemployment rates (and its changes), GDP growth rate, business growth, housing growth and changes in household income.
Texas, South Carolina, and Florida were the only other states that ranked in the top 10.
Northeastern and Midwestern cities didn't even make it to the top 50. Uffda (any other North Dakota natives out there?).
Thanks, Longmont, Greeley, and Denver — you're just a few examples of why Colorado is so awesome.