The Rocket City is No. 23 in the 50 fastest growing areas, according to a Pitney Bowes "Metro Magnets Index" data study released Tuesday.
No other Alabama city made the top 50 and there were 384 U.S. metro areas studied.
Here's the excerpt from the Chamber of Commerce's "ChamberLink" newsletter:
Huntsville Metro Area is moving on up
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According to a Pitney Bowes Software “Metro Magnets Index” data study released on Nov. 27, Huntsville is No. 23 on a list of the 50 fastest growing areas. The city's projected population growth rate of 5.8 percent over the next five years means it's growing faster than some other Southeastern metros, including Nashville and Atlanta.
The Huntsville area is predicted to grow by nearly 10,000 households between now and 2017. This year’s growth rate is down at just 1.2 percent, which is almost half of its 2.3 percent annual growth rate between 2000 and 2010. The Pitney Bowes report stated that more than 75 percent of U.S. metros are experiencing slower growth than in the previous decade.
Projections have Houston, Atlanta and Washington, D.C., poised to see the most household growth through 2017. The number of households in the Huntsville area will jump from 170,819 to 180,791, according to the company's estimates.
No other Alabama city made the Metro Magnets Index's Top 50; the study analyzed 384 U.S. metro areas.
"Projected household growth is a critical indicator for the economic prospects of a specific geographic area, and this data can help real estate, retail and a range of other businesses, plan their growth strategy scientifically," John O'Hara, President of Pitney Bowes Software, said in a statement about the report.
"It is no longer acceptable to make strategic business decisions on gut feel alone. Given the plethora of data, and the advanced tools for analyzing it, business leaders can stay ahead of real estate trends for planning."
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