Recently released county and metro-level population growth data by the U.S. Census Bureau shows that the fastest growing areas are found in exurbs and emerging suburbs.
Analysis of the data by Cushman & Wakefield shows population growth in all areas since the 2020 census, with the exception of urban cores that have had declining numbers. In 2022, however, the rate of decline in urban counties slowed significantly, buoyed by the resumption of international migration following the Covid pandemic.
The Dallas–Fort Worth metroplex grew by roughly 170,000 residents, outpacing the metro area with the second largest population gains, Houston, by nearly 50,000 people. The New York metro region saw its population shrink by about 139,000.
Since the 2020 Census, Austin, Texas and Raleigh, N.C., rank as the two fastest growing metros on a percentage basis among major markets.
Here are Cushman & Wakefield's five takeaways from its recent analysis of the census, as authored by Sam Tenenbaum, Head of Multifamily Insights:
- Further-flung counties, those in Exurbs and Emerging suburbs, saw their population grow the fastest, with the former growing by 1.9% and the latter by 1.5%. These areas continue to accelerate population gains.
- All districts saw population gains with the exception of Urban Cores. However, with international migration making a big rebound in 2022, those counties saw the biggest change in population, stemming the tide of major population declines experienced from 2020-2021.
- Urban cores saw 70% of international migration among major U.S. counties in 2022 but high costs pushed more residents out, with domestic migration outflows of more than 1.1 million people.
- Mirroring the urban core rebound, Gateway markets largely saw the largest turnaround in population growth with New York, San Francisco, King County (Seattle) and Miami representing the biggest change in population growth from 2021 to 2022. New York and San Francisco still saw net population losses, but they were much limited than 2021.
- The Dallas–Fort Worth metroplex grew by roughly 170,000 residents, dwarfing No. 2 Houston by nearly 50,000 people. On the other hand, the New York metro division saw its population shrink by about 139,000. Since the 2020 Census, Austin, TX and Raleigh, NC rank as the two fastest growing metros on a percentage basis among major markets.
Related Stories
Giants 400 | Sep 5, 2023
Top 80 Construction Management Firms for 2023
Alfa Tech, CBRE Group, Skyline Construction, Hill International, and JLL top the rankings of the nation's largest construction management (as agent) and program/project management firms for nonresidential buildings and multifamily housing work, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Sep 5, 2023
Top 150 Contractors for 2023
Turner Construction, STO Building Group, DPR Construction, Whiting-Turner Contracting Co., and Clark Group head the ranking of the nation's largest general contractors, CM at risk firms, and design-builders for nonresidential buildings and multifamily buildings work, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Aug 31, 2023
Top 35 Engineering Architecture Firms for 2023
Jacobs, AECOM, Alfa Tech, Burns & McDonnell, and Ramboll top the rankings of the nation's largest engineering architecture (EA) firms for nonresidential buildings and multifamily buildings work, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Aug 22, 2023
Top 115 Architecture Engineering Firms for 2023
Stantec, HDR, Page, HOK, and Arcadis North America top the rankings of the nation's largest architecture engineering (AE) firms for nonresidential building and multifamily housing work, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Aug 22, 2023
2023 Giants 400 Report: Ranking the nation's largest architecture, engineering, and construction firms
A record 552 AEC firms submitted data for BD+C's 2023 Giants 400 Report. The final report includes 137 rankings across 25 building sectors and specialty categories.
Giants 400 | Aug 22, 2023
Top 175 Architecture Firms for 2023
Gensler, HKS, Perkins&Will, Corgan, and Perkins Eastman top the rankings of the nation's largest architecture firms for nonresidential building and multifamily housing work, as reported in Building Design+Construction's 2023 Giants 400 Report.
Apartments | Aug 22, 2023
Key takeaways from RCLCO's 2023 apartment renter preferences study
Gregg Logan, Managing Director of real estate consulting firm RCLCO, reveals the highlights of RCLCO's new research study, “2023 Rental Consumer Preferences Report.” Logan speaks with BD+C's Robert Cassidy.
Apartments | Aug 14, 2023
Yardi Matrix updates near-term multifamily supply forecast
The multifamily housing supply could increase by up to nearly 7% by the end of 2023, states the latest Multifamily Supply Forecast from Yardi Matrix.
Sports and Recreational Facilities | Jul 26, 2023
10 ways public aquatic centers and recreation centers benefit community health
A new report from HMC Architects explores the critical role aquatic centers and recreation centers play in society and how they can make a lasting, positive impact on the people they serve.
Market Data | Jul 24, 2023
Leading economists call for 2% increase in building construction spending in 2024
Following a 19.7% surge in spending for commercial, institutional, and industrial buildings in 2023, leading construction industry economists expect spending growth to come back to earth in 2024, according to the July 2023 AIA Consensus Construction Forecast Panel.
