Murfreesboro is among the Top-50 Boomtowns in America, according to an analysis of economic data by SmartAsset.
Murfreesboro, No. 46, ranks in the top 60 out of the 500 total cities for four metrics:
- Population growth
- GDP growth
- Growth in the number of local businesses
- Growth in the number of local housing units
The U.S. economy has been strong in recent years, with the national unemployment rate hovering at a historic low and job creation remaining steady. But some local economies are contributing to this national boom more than others.
Boomtowns, characterized by prosperity and robust development, are often desirable places to put down roots and take out a mortgage. Economic growth provides employment opportunities and draws new residents. Some places, however, are growing faster than others. SmartAsset decided to find the cities in America where populations and job opportunities are rising rapidly.
To find the top boomtowns in America, SmartAsset analyzed economic data for 500 cities nationwide across the following factors: unemployment rate, GDP growth, population change, housing development growth, change in household income and business growth. Murfreesboro and neighboring Franklin cracked the top 50 boomtowns nationwide. Nashville finished just below the top 50, ranking 58th overall among the 500 cities we analyzed.
The full report, including the methodology and rankings, can be found here: https://smartasset.com/mortgage/top-boomtowns-in-america-2019.
SmartAsset Boomtowns Study (Link)