Austin holds the top spot for America’s biggest boomtown for the third consecutive year. The city leads a list dominated by Southern metros, with eight of the top ten locations situated in the South. LendingTree analyzed the 50 largest U.S. metros to determine these rankings. The study used the latest available federal data to track where Americans are moving, building, and starting businesses.
The research team examined eight specific metrics across three broad categories. These included people and housing, work and earnings, and the local business and economy. The goal was to find where growth is happening across multiple parts of local economies. The results show a clear geographic split, with the South claiming most of the top positions.
The South Claims Most of the Top Spots
Austin ranks first overall, followed by Raleigh at No. 2, Seattle at No. 3, Charlotte at No. 4, and Tampa at No. 5. Three Florida metros also made the cut, including Jacksonville at No. 7 and Orlando at No. 8. Only Seattle and Phoenix appear in the top ten outside of the South. This concentration of growth in the region is striking and persistent.
When looking at people and housing, Austin leads the pack. The city posted the highest housing unit growth in the country at 3.4%. It also recorded 3.1% population growth. Additionally, 17.5% of residents moved from another county, state, or country. Raleigh and Orlando rounded out the top three in this specific category.
Workforce and Earnings Drive Growth
Raleigh takes the lead in the work and earnings category. Its workforce grew by 4.4%, while median earnings increased by 6.5%. Tampa and Phoenix followed in second and third place. Jacksonville posted the largest workforce increase of any metro analyzed, at 5.6%. This suggests that job creation is a primary driver of the regional boom.
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Seattle ranks first in the business and economy category. The city saw 5.1% real GDP growth and a 9.6% increase in new business applications. Austin came in second, with the largest increase in new business applications in the country at 11.3%. San Jose held the third spot. The data shows that business formation is a key indicator of these economic surges.
Austin’s sustained lead shows a broader shift in where Americans choose to live and work. For decades, migration trends favored the coasts, but the center of gravity has moved. The South’s ability to attract both population and capital simultaneously creates a feedback loop that other regions struggle to match. It is a structural change, not just a temporary trend.
Midwest Cities Lag Behind
At the other end of the rankings, the Midwest accounts for five of the bottom 10 metros. This group includes Detroit, Milwaukee, St. Louis, Chicago, and Cincinnati. Memphis ranks last overall. The contrast between the booming South and the struggling Midwest is stark. These cities face different challenges in retaining talent and attracting new investment.
Matt Schulz, LendingTree’s chief consumer finance analyst, says the South’s dominance reflects years of migration. “A lot of people and businesses have been heading South over the past several years, and that’s created a lot of momentum,” he says. “In many places, you can still find a lower cost of living, a growing population and a business climate that’s attractive to employers. Those are all things that make it easier to start and grow a business.”
The analysis tracks housing unit growth and population shifts alongside workforce expansion and GDP changes. New business applications serve as a forward-looking indicator of economic health. The dataset provides a clear snapshot of current trends. It also offers clues about where the next wave of growth might occur. The South’s lead is built on these tangible, measurable factors.
