Atlanta Named 8th Fastest-Growing Large City In America: Study

ATLANTA, GA — Atlanta has been named one of the fastest growing cities in America according to a new study by WalletHub.

With the Census Bureau reporting that the south and west held 14 of the 15 cities with the largest population gains in 2018, the personal-finance website WalletHub released its report Monday of 2019’s Fastest-Growing Cities in America.

WalletHub ranked the economic growth in Atlanta (1=Fastest-Growing; 258=Avg.):

• 70th – Population Growth
• 38th – Median Household Income Growth
• 76th – Job Growth
• 135th – Poverty Rate Decrease
• 137th – Regional GDP Growth
• 119th – Unemployment Rate Decrease
• 211th – Growth in Number of Businesses
• 93rd – Working-Age Population Growth
• 127th – Foreclosure Rate Decrease
• 178th – Median House Price Growth

Atlanta ranks 57th overall and 8th in terms of large-city growth.

To determine where the most rapid local economic growth occurred over a period of seven years, WalletHub compared 515 U.S. cities across 17 key metrics, based on two key dimensions, “Sociodemographics” and “Jobs & Economy.” The data set ranges from population growth to college-educated population growth to unemployment rate decrease. In addition, WalletHub produced a separate ranking by city size.

WalletHub evaluated those dimensions using 17 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the fastest economic growth. For each metric, it analyzed data spanning from 2012 to 2018 with the exception of “Increase in Number of Startups” (from 2010 to 2014), “Increase in Number of Businesses” (from 2012 to 2016), “Growth in Regional GDP per Capita” (from 2012 to 2017), Increase in Number of Technology Companies (from 2012 to 2016) and Increase in Venture Capital Investment Amount (from 2012 to 2016).

Finally, it determined each city’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order its sample.

In determining its sample, it considered only the “city proper” in each case and excluded cities in the surrounding metro area. WalletHub categorized each city according to the following population-size guidelines:

• Large city: More than 300,000 people
• Midsize city: 100,000 to 300,000 people
• Small city: Fewer than 100,000 people

Sociodemographics - Total Points: 50

• Population Growth: Double Weight (~25.00 Points)
• Working-Age Population Growth: Full Weight (~12.50 Points) Note: “Working-Age Population” includes individuals aged 16 to 64 years.
• Growth in Share of College-Educated Population: Full Weight (~12.50 Points) Note: “College-Educated Population” includes individuals with at least an associate’s degree.

Jobs & Economy - Total Points: 50

• Job Growth: Double Weight (~6.45 Points)
• Increase in Ratio of Full-Time to Part-Time Jobs: Half Weight (~1.61 Points)
• Median Household Income Growth: Full Weight (~3.23 Points)
• Growth in Share of Households with Annual Income Above $75,000: Full Weight (~3.23 Points)
• Unemployment Rate Decrease: Full Weight (~3.23 Points)
• Poverty Rate Decrease: Full Weight (~3.23 Points)
• Growth in Regional GDP per Capita: Double Weight (~6.45 Points)
• Increase in Number of Businesses: Full Weight (~3.23 Points)
• Increase in Number of Startups: Full Weight (~3.23 Points)
• Increase in Venture Capital Investment Amount: Full Weight (~3.23 Points)
• Growth in Number of Technology Companies: Full Weight (~3.23 Points)
• Median House Price Growth: Full Weight (~3.23 Points)
• Building-Permit Activity Growth: Full Weight (~3.23 Points)
• Foreclosure Rate Decrease: Full Weight (~3.23 Points)

Visit WalletHub to view the entire report.