Mid-Sized Cities That Could Soon Become Boomtowns

What do Seattle, Nashville and Atlanta all have in common? They were once mid-sized cities that have boomed in recent decades. Now those places boast high wages, red-hot housing markets and continued growth as they become large cities. If you had relocated to one of these cities ahead of the boom, you likely would have seen your net worth grow along with prospects in that town. Your wages would go up, your home value would go up and you’d be one of those locals complaining about traffic getting worse every year.

So where do you move now, in 2019, if you want to catch the next boomtown lift? We don’t have a corporate crystal ball, but we did compile a list of 14 mid-sized cities that seem to have excellent prospects for job, business and property value growth in the next decade or two. There’s no common thread here: some have positioned themselves to growth with the next hot industry, while others are satellites to bigger cities offering decent quality of life and cheaper housing (for now).

Population: 117,000

Median household income (2017 dollars): $44,312

Median home value (Zillow): $309,000

Provo’s booming high-tech sector, coupled with job and wage growth across all industries, prompted the Milken Institute to name it the best performing city in the U.S. Adobe has a big presence in Provo, and nearby Brigham Young University is a source of jobs and talent that underpins the regional economy

Population: 465,000

Median household income (2017 dollars): $61,505

Median home value (Zillow): $273,400

Local leaders have worked to keep business costs low in Raleigh. The end result? Projected job growth of more than 42 percent over the next 10 years. The city increasingly falls on the radar of big companies looking to relocate from more expensive metropolitan areas while still having access to a deep talent pool.

Population: 165,000

Median household income (2017 dollars): $60,110

Median home value (Zillow): $392,000

All of northern Colorado is undergoing rapid growth, with 30,000 new residents projected by 2030, according to the U.S. Census Bureau. But Fort Collins has a distinct advantage over other cities: it’s home to Colorado State University. Add in a cheaper cost of living than Denver and Boulder, and this city is well positioned to boom.

Population: 859,000

Median household income (2017 dollars): $58,202

Median home value (Zillow): $225,500

Like Raleigh, Charlotte is benefiting from state-level policies designed to make North Carolina more attractive to businesses. The professional, scientific and technical services industries grew by nearly 9 percent in 2016. Housing prices are on the rise as well, but still affordable: the media home price in Charlotte was $245,000 in 2016.