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24/7 Wall St.: Fastest Growing Cities in America

5. Raleigh, N.C.

Change in population: 3.1%
Population 7/11: 416,468
Population 4/10: 403,903
Average annual city unemployment (2011): 7.6%
Increase in jobs (2010 to 2011): 10,500 (2.07%)

Raleigh’s economy suffered through a tough year in 2009, as the Raleigh-Cary MSA’s real gross domestic product declined 0.93%. However, Raleigh’s economy recovered, growing at a robust 5.2% pace in 2010. In 2011, the Raleigh MSA added 10,500 jobs over the year with 3,200 of these coming from the trade, transportation and utilities industr ies, which cumulatively make up what is as of May the city’s largest employers. Much of the Raleigh area’s housing is new — 14.6% of all housing units were created between 2005 and 2010. In 2011, Meritage Homes (NYSE: MTH), the United States’ ninth-largest homebuilder, began constructing homes in the region.
(Istock)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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