Fastest-growing 'Boom Towns' to Watch
March 20, 2013
CNNMoney recently highlighted the fastest growing “boom towns” in the U.S. -- “areas that started out so tiny but are gaining attention and growing in population fast.” Many of these small towns have experienced growth due to a booming oil business.
The following areas have seen their populations soar, employment strong, and their housing and rental prices surge.
This small, oil-rich town has doubled its size in the past three years and now faces a housing shortage.
Rents here have nearly doubled in three years (averaging $1,600 for a two-bedroom apartment) and the number of building permits for single-family homes has more than quadrupled in 2012.
A booming oil business here is causing this small town to see its population and development grow.
The unemployment rate here is at a very low 3.1 percent and an energy boom is behind the majority of its strong population growth.
This city has a strong oil drilling sector but also one of the largest deposits of natural gas in the nation.
Source: “Fastest-Growing Boomtowns,” CNNMoney (March 2013)
Updated: June 25, 2018