By Ken Smith / Senior Director, Research & Information Services
According to a recent study by Stessa, the Huntsville metro area leads all U.S. metros in the rate of economic recovery for 2021. Stessa, a leading real estate technology service provider, analyzed data from the Bureau of Labor Statistics, the U.S. Census Bureau and Redfin to create a composite score to compare metros across the U.S. Key factors included the percentage change in total employment from January to May 2021, the unemployment rate from May 2021, average monthly building permits per capita (averaged over January to May 2021) and average monthly home sales per capita (averaged over January to May 2021). Huntsville’s 2.2% unemployment rate, strong employment growth and steady home sales and building permits landed the community at the top of list. The study showed that communities with strong employment growth and home sales are driving economic recovery. Huntsville’s total employment has already returned to pre-Covid levels where the U.S. as a whole is still behind. Huntsville’s population grew over 2% from 2019 to 2020, one of the highest growth rates in the country, fueled by companies adding new jobs and opportunities to the local community.
Cities With the Most Economic Growth in 2021
| Rank | Metro | Composite score/ | Percentage change in total employment/ | Unemployment rate/ | Average monthly building permits per 100,000 residents/ | Average monthly home sales per 100,000 |
| 1 | Huntsville, AL | 89.6 | 1.8% | 2.2% | 105 | 178 |
| 2 | North Port-Sarasota-Bradenton, FL | 86.8 | 1.8% | 4.2% | 159 | 315 |
| 3 | Port St. Lucie, FL | 82.9 | 2.7% | 4.8% | 123 | 252 |
| 4 | Spartanburg, SC | 81.9 | 2.0% | 3.8% | 112 | 133 |
| 5 | Nashville-Davidson–Murfreesboro–Franklin, TN | 78.9 | 1.1% | 3.9% | 132 | 174 |
| 6 | Boise City, ID | 78.9 | 0.7% | 2.9% | 140 | 152 |
| 7 | Provo-Orem, UT | 78.6 | 1.5% | 2.3% | 158 | 105 |
| 8 | Raleigh-Cary, NC | 78.6 | 1.0% | 3.8% | 136 | 168 |
| 9 | Naples-Marco Island, FL | 78.0 | 0.5% | 3.7% | 137 | 462 |
| 10 | Austin-Round Rock-Georgetown, TX | 77.9 | 1.3% | 4.2% | 207 | 138 |
https://www.stessa.com/blog/cities-with-most-economic-growth/
