Huntsville Madison County Chamber, Alabama, USAHuntsville Madison County Chamber, Alabama, USAHuntsville Leads the U.S. in 2021 Economic GrowthHuntsville Leads the U.S. in 2021 Economic Growth
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Huntsville Leads the U.S. in 2021 Economic Growth

July 29, 2021

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/

 

 

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