Fastest growing major metropolitan area in the Midwest (Columbus, Madison: real estate, foreclosure)

[JayLynn]

According to the Columbus, Ohio chamber of commerce, Columbus is the second fastest growing major metropolitan area in the Midwest. Does anyone know which city is the first? I have searched on-line extensively, but many cities like Minneapolis and Kansas City state that they are one of the fastest, but not actually the fastest.

Thanks

[paintballer1708]

^Columbus city proper is one of the fastest growing regions in the country. Now i would imagine the fastest growing metro would be Madison, Wisconsin. That is also a big college city and a state capitol.

[Subway]

Originally Posted by JayLynn

According to the Columbus, Ohio chamber of commerce, Columbus is the second fastest growing major metropolitan area in the Midwest. Does anyone know which city is the first? I have searched on-line extensively, but many cities like Minneapolis and Kansas City state that they are one of the fastest, but not actually the fastest.

Thanks

For the period 2000-2005, Indianapolis was the fastest growing major metro area in the Midwest with a growth rate of 7.6%. Kansas City's rate was 6.1%. The Twin Cities and Columbus both had growth rates of 5.9%.

When considering all metro areas (not just major ones) in the Midwest, I beleive that Sioux Falls, SD is #1 with a growth rate of 11.1%. Des Moines' is 8.5% and Madison's is 7%.

My stats are from Table 2 at this link: http://www.census.gov/population/www...ges_final.html.

[FinanceMom]

Two questions:

1 -Does anyone know where the Chicago area fits in terms of metro area growth rates?

2 - If Indianapolis is growing so fast, why are the real estate values so depressed?

According to Smart Money magazine, Indianapolis is just about the least expensive metro area in the country, with houses undervalued on average 21%! I just moved from there, to closer to Chicago and we certainly paid the price. We moved from a very large 5,000 sq ft home in Indy to a 3,000 sq ft home in NW Indiana, which is closely tied to the Chicago market.

Just curious if anyone has any thoughts on this!

[paintballer1708]

Isn't Indianapolis one of the top 10 cities for the highest foreclosure rate?

[Subway]

FinanceMom,

The growth rate for the entire Chicago metro area for the period 4/1/00-7/1/05 was 3.8%. Also, here are the corresponding growth rates for the three metropolitan divisions of the Chicago metro:

Chicago-Naperville-Joliet, IL = 3.3%

Gary, IN = 3.2%

Lake County-Kenosha County, IL-WI = 8.7%.

http://www.census.gov/population/www...ges_final.html

[Steve-o]

My best guess would be the Naperville/Joliet/Plainfield area in Illinois. One of those is usually in the top ten.

[paintballer1708]

1,"Gilbert town, Arizona","173,989","110,061","63,928",58.1,,
2,"North Las Vegas city, Nevada","176,635","115,488","61,147",52.9,,
3,"Port St. Lucie city, Florida","131,692","88,878","42,814",48.2,,
4,"Miramar city, Florida","106,623","72,739","33,884",46.6,,
5,"Elk Grove city, California","112,338","81,100","31,238",38.5,,
6,"Cape Coral city, Florida","140,010","102,275","37,735",36.9,,
7,"Chandler city, Arizona","234,939","176,997","57,942",32.7,,
8,"Rancho Cucamonga city, California","169,353","127,743","41,610",32.6,,
9,"Roseville city, California","105,940","79,920","26,020",32.6,,
10,"Henderson city, Nevada","232,146","175,405","56,741",32.3,,
11,"Irvine city, California","186,852","143,159","43,693",30.5,,
12,"Joliet city, Illinois","136,208","106,870","29,338",27.5,,


Joliet was the 12th fastest growing city in the nation from 2000-2005. Naperville was 50th. These are estimates for cities with over 100,000.

Major Midwest Cities Growth Rates 2000-2005:


3,Chicago city,Illinois,"2,842,518","2,861,037","2,875,909", "2,887,089","2,896,374","2,896,069","2,896,021","2 ,896,016"


11,Detroit city,Michigan,"886,671","899,122","911,851","922,4 26","934,694","947,864","951,270","951,270"

12,Indianapolis city (balance),Indiana,"784,118","782,656","783,947","7 82,776","783,882","781,790","781,864","781,870"

15,Columbus city,Ohio,"730,657","728,907","728,191","722,940", "719,988","714,063","712,016","711,470"

22,Milwaukee city,Wisconsin,"578,887","583,144","586,914","589, 801","592,312","596,155","596,988","596,974"

[wesley45133]

According to this website, City-data.com, McKinney, Texas is the fastest growing city in the US with more than 50,000 people. McKinney, Texas (+34.4%, pop. 73,081)
The fastest growing city with under 50,000 people is Lincoln, California.
Lincoln, California (+75.1%, pop. 19,676)
Hope that helped.

[Markxxx]

You have to see what they are comparing. Growth rates are meaningless, you need raw numbers

For example if a city has 1,000 and next year it has 1,500 it grew by 50% so what? The numbers are so small they are meaningless. This is why small places like Naples Florida have such high growth rates. NYC can grown 10 times as fast but because NYC is so populated the overall rate will be negligable.