Market Snapshot: U.S. Cities and Towns

Market Snapshot: U.S. Cities and Towns

Based on the latest U.S. Census Bureau’s population estimates for incorporated places of 20,000 residents or more, small towns in the Midwest and Northeast experienced lower rates of decline and many larger cities in these regions have reversed earlier losses. Meanwhile, small-town population growth slowed in the West and accelerated in the South. We analyzed the city and town population datasets and extracted a few insights, which are listed below.

• Three Texas cities (Celina, Fulshear, and Royse City) had compound annual growth rates (CAGR) above 20% over the last four years. Another 16 cities had double-digit growth rates, with 10 of those also being in Texas.
• Some cities have significantly picked up the pace of growth in 2023 (based on comparison against the four-year CAGR):

• Odessa, Texas
• White Plains, New York
• Ocala, Florida
• Greeley, Colorado
• Weymouth, Massachusetts
• Doral, Florida
• Atlanta, Georgia
• Redmond, Washington
• Midland, Texas
• Lehi, Utah

• Cities with population estimated between 50,000 and 500,000:

• Top five by four-year CAGR (2020-2023):

• Georgetown, Texas
• Saratoga Springs, Utah
• Kyle, Texas
• Leander, Texas
• Eagle Mountain, Utah

• Top five by numeric change from 2022 to 2023:

• Port St. Lucie, Florida
• Georgetown, Texas
• Raleigh, North Carolina
• Denton, Texas
• Cape Coral, Florida

• Cities with population above 500,000:

• Top five by four-year CAGR (2020-2023):

• Fort Worth, Texas
• Charlotte, North Carolina
• San Antonio, Texas
• Jacksonville, Florida
• Oklahoma City, Oklahoma

• Top five by numeric change from 2022 to 2023:

• San Antonio, Texas
• Fort Worth, Texas
• Charlotte, North Carolina
• Jacksonville, Florida
• Atlanta, Georgia

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