A new study has found that The Villages is the second-fastest growing city in the United States.
The study was released this week by the planning platform Vena.
So what city is growing at a pace faster than The Villages?
Myrtle Beach, S.C.
To help identify prime real estate investment opportunities, Vena dug into recent data from the U.S. Census, the Bureau of Labor Statistics and Realtor.com, examining:
- New building permits
- Population growth trends
- Employment rates
- Housing market rankings
The analysis showed that Myrtle Beach has become a “beacon for developers seeking profitable markets” making it the No. 1 city for residential growth.
“The city’s population growth (2.93%) and surging job market (4%) are fueling a construction frenzy, with over 13,000 building permits approved in 2023. Homes here sell at a good pace, spending a median of 55 days on the market,” Vena announced in the study published this week.
Myrtle Beach offers affordable living, a vibrant culture with arts and local cuisine and a medical hub. The city has also become a “haven” for those working remotely.
“The city’s focus on diversifying its economy has created a more year-round livable environment, attracting young professionals and families seeking a balance of work and leisure.The city’s focus on diversifying its economy has created a more year-round livable environment, attracting young professionals and families seeking a balance of work and leisure,” Vena said in its report.
Coming in at No. 2 is The Villages.
Vena’s findings are well-known to those who have already chosen Florida’s Friendliest Hometown as their retirement destination.
“With a population increase of 4.7% and job growth of 3.6% in 2023, The Villages is a magnet for retirees seeking a vibrant and active lifestyle. Over 3,300 building permits approved point to a surging demand for housing in this established community,” according to Vena. “The Villages’ combination of a flourishing retiree population, a planned community with sought-after amenities and a growing job market creates a prime opportunity for developing new housing options that cater to active adults.”
The Top 5 Fastest-Growing Cities according to Vena are:
1. Myrtle Beach, SC
2. The Villages
3. Sherman, TX
4. Boise, ID
5. Orlando
Ocala came in at No. 11.
