Posted in Forbes magazine on 2/10/2017 by Samantha Sharf, Forbes Staff writer, she listed the hottest markets in the country…especially the Florida “Top Picks” for 2017. Want to know what she had to say about fastest growing cities in Florida? Read more……
“By every metric that counts, Cape Coral and the surrounding towns are enjoying among the swiftest growth rates in the country. This expansion earns the Cape Coral-Fort Myers metropolitan area the top spot on Forbes’ 2017 list of America’s fastest-growing cities.”
“The metro area’s population of 702,000 grew 3.39% in 2016, more than any other major metro in the country. This year Moody’s Analytics–our data provider for this list–expects the population of the Cape Coral-Fort Myers area to expand even faster–3.61%. Moody’s also projects that it will have the highest rates of employment growth (3.83%) and output growth (6.82%) this year thanks to expanding hospitality and housing markets.”
“Moody’s Analytics provided the data, as well as insights that helped us improve the methodology we’ve used in the past. For each of the 100 largest metropolitan statistical areas in the United States, Moody’s provided growth rates in five key areas:
- Population—using data from the U.S. Census Bureau
- Employment—using non-farm employment data from the Bureau of Labor Statistics’ establishment survey
- Wages—using data from the Bureau of Economic Analysis
- Output—using real gross metro product data from BEA and BLS
- Home values—as a proxy for household wealth, using home price growth from Federal Housing Finance Agency, Fannie Mae and Freddie Mac”
Number 2 among Florida cities under the same categories stated above, was the Orlando Metro area. Here is what she said about that market.
“Our second-ranked metro area, Orlando, had the strongest 2016 job growth across the 100 largest metro areas in the country. Employment grew 4.57% in the city best known for being home to the Walt Disney World Resort. This year job growth is expected to slow, but at the projected 3.54% Orlando would still be among the biggest job gainers in the country. Compare that to Youngstown, Ohio, where employment declined, albeit slightly, last year. This year employment growth in that area is expected to at best replace jobs lost last year.”
Before inserting her comments about our area, I did some digging among our Realtor Board Association statistic’s for 2016. Their statistics ran pretty much parallel to the Forbes report. One of the boards statistic’s showed an increase in home values for Cape Coral up by 4.1% over 2015. It also showed the median home price for the Cape of $218,500.
These are all good things for our area and clearly shows that not only Florida, but our immediate area in particular are still destinations for people moving down.