Memphis 2nd slowest-growing big city in U.S., study says

Memphis 2nd slowest-growing big city in U.S., study says
(Source: WMC Action News 5)

MEMPHIS, TN (WMC) - With the Census Bureau reporting that the South held 8 of the 15 cities with the largest population gains in 2017, the personal-finance website WalletHub has released its report on 2018’s Fastest-Growing Cities in America, as well as accompanying videos.

To determine where the most rapid local economic growth occurred over a period of seven years, WalletHub compared 515 U.S. cities across 15 key metrics. The categories range from population growth to college-educated population growth to unemployment rate decrease.

Out of the 66 largest cities in the U.S., Memphis was next to last, beating out only Cleveland, Ohio. Overall, Memphis ranked 487th out of 515 ranked cities.

Economic Growth in Memphis (1=Fastest-Growing; 258=Avg.)

441st – Population Growth

414th – Median Household Income Growth

431st – Job Growth

272nd – Poverty Rate Decrease

454th – Regional GDP Growth

147th – Unemployment Rate Decrease

461st – Growth in Number of Businesses

465th – Working-Age Population Growth

278th – Foreclosure Rate Decrease

457th – Median House Price Growth To read the full report, and see where other Mid-South cities ranked, click here.

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