Looking to move? These small cities are ‘up and coming’ hotspots, national study finds

(NEXSTAR) — Looking for that small-town sense of community without giving up the perks of living in a city-like environment? Then a small city is exactly what you’re looking for.

A small city is categorized as a city with a population between 63,000 and 100,000, according to MoneyGeek.

The personal finance site set out to determine the top small up-and-coming cities that are the most promising for financial growth. They analyzed 211 small cities in the U.S. based on median household income, unemployment rate, population growth, and the average annual gross domestic product (GDP) growth. GDP estimates the value of the goods and services produced in an area.

Their results found Florida and Texas sitting at the top with the two states making up nine of the top 10 cities.

Two Texas cities in particular showed the strongest growth in terms of GDP: New Braunfels, outside San Antonio, and Georgetown, near Austin. Those two cities also made for two of the highest median household incomes on the list. They finished second and third behind South Jordan, Utah.

Overall, the most desired small cities were primarily in the South, as you can see on the map below:

Florida walked away with seven cities in the top 10, thanks in part to their strong population growth. North Port finished with the largest population growth over the past five years, seeing roughly a 28% growth in people moving there. The city also finished fourth in the top 10 in terms of median household income.

The only other state to have one of its small cities crack the top 10 was Utah. South Jordan, part of the Salt Lake City metro, ranked seventh overall.

Here’s the full data on the Top 10 from MoneyGeek:

City Avg. Annual GDP Growth Median Household Income Unemployment Rate 5-Year Population Growth
1. North Port, FL 3.5% $78,587 3.2% 28.4%
2. New Braunfels, TX 6.8% $79,336 3.2% 19.8%
3. Tamarac, FL 4.0% $54,574 2.9% 9.5%
4. Georgetown, TX 6.9% $97,533 3.1% 22.4%
5. Boynton Beach, FL 4.8% $66,472 3.1% 4.1%
6. Deerfield Beach, FL 4.0% $65,465 2.9% 7.7%
7. South Jordan, UT 3.2% $118,560 2.5% 17.7%
8. Fort Myers, FL 4.3% $62,981 3.1% 20.0%
9. Palm Coast, FL 5.7% $68,434 3.7% 11.3%
10. Homestead, FL 3.6% $60,530 1.4% 16.7%

You can see MoneyGeek’s full list here.

MoneyGeek also laid out the top things you should consider when ultimately deciding which where to live. The factors they shared included the safety of the city, the cost of living, the mortgage cost, and finally ensuring you’ll be able to manage a good credit score.

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