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Springfield ranks midway on fastest-growing cities list

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WalletHub.com ranked Springfield 245th on its list of the fastest-growing U.S. cities.

The study examines 515 cities in the two broad categories of sociodemographics and jobs and economy. Sociodemographics comprises the subcategories of population, working-age and college-educated population growth, while jobs and economy focuses on metrics such as job growth, median household income, foreclosure rates and median home prices. Most of the study was calculated by examining 2010 through 2016 data, though 2011-16 data was used for job growth, 2010-14 data was used for number of startups and 2010-15 data was used for number of businesses, according to finance website WalletHub.com.

Springfield scored an overall 39.66 out of a possible 100. It ranked 290th in sociodemographics and 188th in jobs and economy. Among midsize cities — with a population of 100,000 to 300,000 — Springfield placed 126th.

Specifically, the Queen City’s data comprised:
    •    an 8.2 percent jump in building-permit activity growth;
    •    an 8.2 percent increase in number of startups;
    •    a 6.2 percent increase in ratio of full- to part-time jobs;
    •    2.9 percent median household income growth;
    •    1.7 percent job growth;
    •    1.4 percent median house price growth;
    •    a 1.2 percent increase in number of businesses;
    •    0.9 percent working-age population growth;
    •    0.8 percent population growth;
    •    0.5 percent growth in regional gross domestic product per capita;
    •    0.3 percent college-age population growth;
    •    a 0.7 percent dip in unemployment rate;
    •    a 0.8 percent dip in poverty rate; and
    •    0.2 percent dip in foreclosure rates.

The overall fastest-growing city was Frisco, Texas, followed by Kent, Washington, and Lehigh Acres, Florida. The same cities also topped the midsize list. The lowest-ranking city on WalletHub’s full list was Shreveport, Louisiana.

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