Friday
April 18, 2014

Fastest-growing 'Boom Towns' to Watch

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Fastest-growing 'Boom Towns' to Watch

CNNMoney recently highlighted the fastest growing “boom towns” in the U.S. -- “areas that started out so tiny but are gaining attention and growing in population fast.” Many of these small towns have experienced growth due to a booming oil business. 

The following areas have seen their populations soar, employment strong, and their housing and rental prices surge. 

Willston, N.D.
Population: 26,677
This small, oil-rich town has doubled its size in the past three years and now faces a housing shortage. 

Dickinson, N.D.
Population: 26,771
Rents here have nearly doubled in three years (averaging $1,600 for a two-bedroom apartment) and the number of building permits for single-family homes has more than quadrupled in 2012.

Andrews, Texas
Population: 16,117
A booming oil business here is causing this small town to see its population and development grow. 

Midland, Texas
Population: 151,662
The unemployment rate here is at a very low 3.1 percent and an energy boom is behind the majority of its strong population growth. 

Vernal, Utah
Population: 34,524
This city has a strong oil drilling sector but also one of the largest deposits of natural gas in the nation. 

Source: “Fastest-Growing Boomtowns,” CNNMoney (March 2013)

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