With the U.S. housing market booming in the spring, major markets in states like Arizona, Texas and Georgia are noticing a growth in certain neighborhoods.
A recent study by realtor.com identified the top fastest-growing neighborhoods in America that are slated to grow even faster due to job opportunities, new households forming and new homes being built to meet growing demand.
The analysis also states that new home starts are up to six times the growth seen in the top 100 counties. And most important, each individual ZIP code is projected to see a growth in households of 9% to 19% over the next five years.
So if you want to be where the growth is, here are the top 10 booming neighborhoods in America.
10. Atlantic Station, Atlanta, Georgia
Projected five-year household growth: 15.7%
Located on the northwestern edge of Midtown, Atlantic Station is a neighborhood mixed with offices, residences, and retailers such as Ikea, Dillard’s, and Publix.
9. The Loop, Chicago, Illinois
Projected five-year household growth: 18.9%
The recently completed Block 37 apartment tower, betting on the red-hot downtown rental market, adds 690 rental units and brings new life to the heart of the area’s Theater District. The South Loop is also a convenient location for young professionals and academics working at the University of Chicago or nearby in Hyde Park.
8. Williamsburg, Brooklyn, New York
Projected five-year household growth: 9.2%
In addition to new residential towers such as Rocket Factory Lofts and Spire Lofts, more housing developments are popping up throughout the area.
7. Rolesville, North Carolina
Projected five-year household growth: 12.1%
Located 30 minutes outside Raleigh, NC, Rolesville is a small suburban town with big growth potential. Rolesville is known for its strong regional economy and prime positioning, with North Carolina State University, Duke University, and the University of North Carolina all less than an hour away.
6. Belltown, Seattle, Washington
Projected five-year household growth: 11.9%
At night, Belltown comes to life with a slew of jazz and rock venues, restaurants, and pool halls. The area’s top employers include Amazon, Microsoft, and Starbucks.
5. Mountain’s Edge, Las Vegas, Nevada
Projected five-year household growth: 19.4%
A top-selling master planned community in the country, Mountain’s Edge has everything a family would want: community parks, trails, open spaces, and two new elementary schools. It’s no wonder that it’s expected to see 19.4% household growth over the next five years, along with adjacent Enterprise, NV.
4. Downtown, Miami, Florida
Projected five-year household growth: 14.9%
In recent years, urban development with projects such as Miami World Center have brought tens of thousands of new residents to the area. Millennial professionals are attracted to the nightlife, restaurants, and shopping, as well as the ability to walk to work.
3. Downtown, Dallas, Texas
Projected five-year household growth: 14.9%
Downtown Dallas used to be a ghost town after 5 p.m. on weekdays, but recent redevelopment efforts have transitioned it into a livable neighborhood as well—residents can even shop for locally grown produce at the Dallas Farmers Market, in southeast downtown.
2. Historic Cultural Center, Los Angeles, California
Projected five-year household growth: 8.8%
Last year, a $140 million mixed-use project consisting of 355 residential units—20% of them affordable—broke ground in the city’s historic core. The complex will play a critical role in helping to strengthen the connections between El Pueblo and adjacent Chinatown and the rest of the rapidly gentrifying downtown.
1. Power Ranch, Gilbert, Arizona
Projected five-year household growth: 15.9%
The area offers a laid-back feel with large-scale amenities, including the 7.5-acre Ranch House Park, two community lakes, and 26-plus miles of trail knitting it all together. The area also offers top-rated schools, including Centennial Elementary, which was ranked No. 1 in the state in 2013, according to GreatSchools.org.
