What’s New May Soon Be Old
Why the Sun Belt’s Meteoric Growth isn’t Just about Warm Weather and Low Taxes, and How The Rust Belt Can Rise Again.
Over the last decade, 13 of the 15 fastest growing large cities in the US have been in the Sun Belt. None were in the Northeast, Mid-Atlantic or Midwest. Indeed, Rice’s Kinder Institute for Urban Research estimates that half of the country’s growth took place in the 22 Sun Belt metropolitan areas with more than 1 million people in the first half of the decade; a trend that has since accelerated. The narrative surrounding cities like Austin, Nashville, Miami & Dallas has been inescapable for much of this time, and insufferable the last 6 months. It’s also been, statistically speaking, correct.
Want to read this story later? Save it in Journal.
The charts below show the growth rates of major Sun Belt, and select coastal, cities & metropolitan areas. While cities around the country grew from 2010–2019, metropolitan areas that offered the most region wide affordability, notably those in the Sun Belt, surpassed all of the others in percentage growth. While one moving to Houston or Charlotte can find a brand new home minutes from downtown for less than $400,000, comparable homes within New York City run in the several millions of dollars, on the cheap end. A…
