On October 2, 2017, WalletHub has named three Lee County cities among the fastest growing in the United States: LeHigh Acres, Fort Myers, and Cape Coral. This evaluation included a detailed look at various factors related to population, economy, and growth.
How Each City was Ranked
A total of 515 different cities were put under a microscope to determine how they ranked. When it comes to each evaluation, WalletHub really did its homework, utilizing 15 different measures applied to statistics produced over the last 7 years in order to determine which one had the fastest economic growth.
The metrics were based on two key dimensions: sociodemographics, which includes population growth factors; and jobs and economy, which studies factors like job growth, new businesses, regional GDP, and home prices.
Notable Statistics for Lehigh Acres, Florida
This mid-sized city ranked third across the board, including third overall, third in its group for highest growth, as well as third for highest population growth. Despite Southwest Florida’s high tourism and snowbird attraction, that population is composed of mostly working-age citizens playing a pivotal role in the city’s growth. With affordable housing and an easy commute, it’s easy to understand why so many new residents and businesses are cropping up here.
Notable Statistics for Fort Myers, Florida
Fort Myers experienced the nation’s highest decrease in poverty rate, declining 2.92 percent during the seven-year study period. This bustling city also earned the nation’s top ranking in job growth and median house price growth, along with a ninth-place ranking in population growth.
Fort Myers has experienced an ongoing makeover throughout the years to modernize its infrastructure and attract more Millennials and young professionals, while still sustaining its appeal to residents of all generations.
Notable Statistics for Cape Coral, Florida
Cape Coral still ranks highly when the cities are split. It is placed 9th in the mid-city category and 15th overall in the country, according to the latest figures from the WalletHub personal finance website. Mid-size cities were considered those with 100,000-300,000 people.
While escaping the cold of winter for the city’s balmy coastal lifestyle sounds great, the vast majority of the Cape Coral’s growth stems from increased job opportunities. Since 1990, the resident average age has decreased as the job market grows, making Cape Coral more than just a sunny place for retirees. There’s now more of a focus on jobs in medical, high-tech, corporate office, manufacturing and trades.
An Invitation to Site Selectors
Southwest Florida is a growing region that has appealed to many large businesses as the perfect location for their headquarters or regional offices. With a diverse selection of counties, each with its own advantages, demographics, and appeal, you may quickly find your solution for where to start or grow your business.
If you own or represent a company that you think can profit from moving its business or headquarters to one of our cities, contact Southwest Florida Economic Development Association’s President Eric Berglund.
We can provide an abundance of data, answer questions, and even help you find the perfect location based on your business’ target workforce and needs.