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The housing market is heating up in the United States, meaning people are flocking to different areas to get a good price. Some cities are seeing more growth than others, according to an annual report by SmartAsset. The financial website released its 2022 list of the 10 fastest-growing cities in the country:
"We compared 322 of the largest cities in the country across the following metrics: housing demand (i.e. the difference between population growth and housing unit growth), four-year change in median home value, and four-year change in median household income."
One Washington city made it on the list, coming in the No. 3 spot: Everett! Here's what researchers had to say about this quaint city in the Seattle area:
"Everett, Washington is located 25 miles north of Seattle and ranks in the top 10% of cities for all three metrics we considered. Everett had the 26th-largest median household income growth between 2016 and 2020, rising 29.63%. The city also saw its median home value rise 48.60% during that time (28th-highest overall). Meanwhile, the city had the 30th-highest housing demand across our study, as its population grew 3.20% faster than the number of new housing units."
Here are the Top 10 fastest-growing cities in the United States, according to the research:
- Jurupa Valley, California
- Denver, Colorado
- Everett, Washington
- Stockton, California
- Vallejo, California
- Sunnyvale, California
- Arvada, Colorado
- Moreno Valley, California
- Oakland, California/Port St. Lucie, Florida (tie)
Click HERE to check out SmartAsset's full study.