A Florida lifestyle is certainly appealing, but one particular area is truly booming. In fact, Cape Coral was just named the nation’s top boomtown for 2017. Not only are more and more people beginning to discover all that the area has to offer, but they’re coming out in force.
At least that’s according to an annual study by personal finance website SmartAsset. Researchers looked at data from more than 580 cities, taking into account things like population change, the unemployment rate and change, GDP growth and the housing unit change.
Taking all of that information into consideration, they then came up with a score and ranked the cities. While the top city, Cape Coral, received a 100 on the index, the lowest ranked city received a score of 0.
One of the biggest factors for Cape Coral appears to be the large number of new residents moving in. The city ranked second in this particular category for net migration. It also received high marks for a growing economy, the growth rate of housing and a decrease in the unemployment rate.
While Cape Coral may have received the very top spot in the study this year, it’s by far not the only Florida city to make the national list. The state dominated the study for 2017, with an impressive eight cities making it into the top 10 alone.
Other contenders this year include Largo and Palm Coast, coming in second and third place, followed by Saint Petersburg at number five, Spring Hill at number six and Riverview at number seven. The remaining Florida cities on the list include Town ‘n’ Country at eight and Tampa, coming in at an admirable number 10 on the list for the year.
As for a comparison, last year only the Florida cities of Fort Myers and Kissimmee made the list of the “Top 10 Boomtowns” for 2016.