(Fort Myers, FL – October 10, 2017). WalletHub has named the City of Fort Myers as 2017’s seventh-fastest growing city in America, based on local economic growth. The personal finance website announced the rankings on Oct. 2.
To determine where the fastest local economic growth has occurred, WalletHub’s analysts compared 515 cities based on 15 measures over a period of seven years. The metrics were based on two key dimensions: Sociodemographics, which includes population growth factors; and Jobs & Economy, which studied factors like job growth, new businesses, regional GDP, and home prices.
Fort Myers experienced the nation’s highest decrease in poverty rate, declining 2.92% during the seven-year study period. Conversely, Shreveport, LA experienced the highest increase in poverty rate (1.55%). Fort Myers also earned the nation’s top ranking in job growth and median house price growth, along with a ninth-place ranking in population growth.
The WalletHub study also ranked municipalities against others of similar size: Large cities (more than 300,000 people), midsize cities (100,000-300,000 people), and small cities (fewer than 100,000 people). Fort Myers was ranked as the second-fastest growing small city in the U.S., behind Meridian, ID.
In total, 40 Florida municipalities were included in the study, with Lehigh Acres (#3), Cape Coral (#15), and Boynton Beach (#19) all finishing in the top 20. Frisco, TX was the fastest-growing municipality overall. For the full list and more information, visit https://wallethub.com/edu/fastest-growing-cities/7010.