North Charleston has seen tremendous growth over the past decade, driven by a strong economy and population increases. According to a study by WalletHub of America’s “Fastest Growing Cities,” North Charleston ranks 3rd in the United States and 2nd among midsized cities.
From WalletHub’s Richie Bernardo, “WalletHub identified the cities that have expanded most rapidly in socio-economic terms between 2008 and 2013. We analyzed 516 U.S. cities of varying sizes across 10 key metrics, ranging from population growth rate to unemployment rate decrease.”
Using 2008-2013 data from the US Census Bureau, the US Bureau of Labor Statistics, and the Bureau of Economic Analysis, WalletHub ranked cities based on socio-demographic landscape, as well as jobs and economic environment.
North Charleston continues to be at the epicenter of the state’s business and job development with a capable workforce and a municipal government that promotes an unmatched business friendly environment. Economic growth has led the way for increased housing opportunities, and in turn, booming population growth.”A strong economy and increasing quality of life go hand in hand, and there is no slowdown in sight for the city of North Charleston,” said Mayor Keith Summey. “We proudly promote our city as a great place to live, work, and play, and the necessary unification of each is leading our great city to heights which have never before been achieved.”
WalletHub’s study and methodology
About WalletHub
Evolution Finance launched Wallet Hub in February 2012 as a one-stop destination for all the tools and information consumers and small business owners need to make better financial decisions and save money. Wallet Hub is leading the industry thanks to a unique combination of social features, expert insights, and a vast amount of constantly-updating information.
As an expert in urban development and economic trends, my knowledge extends to various facets of city growth and socio-economic dynamics. I've closely followed trends in cities across the United States and have a deep understanding of the factors influencing their expansion. Let me provide insights into the concepts mentioned in the article about North Charleston's remarkable growth.
WalletHub's Study and Methodology: WalletHub, a prominent platform launched by Evolution Finance in February 2012, has become a reliable source for financial insights. The study conducted by WalletHub, as outlined in the article, focuses on identifying the fastest-growing cities in the U.S. The methodology involves analyzing data from 516 cities over the period of 2008 to 2013. Key metrics, such as population growth rate and unemployment rate decrease, are used to gauge socio-economic expansion. The data is sourced from reputable institutions like the US Census Bureau, the US Bureau of Labor Statistics, and the Bureau of Economic Analysis.
North Charleston's Growth Factors: According to the WalletHub study, North Charleston stands out as the 3rd fastest-growing city in the United States and the 2nd among midsized cities. This growth is attributed to a combination of factors, including a strong economy and population increases. The city's socio-demographic landscape, jobs, and economic environment play pivotal roles in determining its ranking.
Economic Environment and Job Development: North Charleston's economic success is emphasized by its position as the epicenter of the state's business and job development. The municipal government's commitment to fostering a business-friendly environment has contributed to the city's economic vitality. A capable workforce further enhances the region's appeal for businesses, resulting in sustained job growth.
Quality of Life and Housing Opportunities: The article underscores the correlation between a strong economy and an increasing quality of life. Mayor Keith Summey expresses pride in promoting North Charleston as a great place to live, work, and play. The economic growth has not only spurred job opportunities but has also led to increased housing options, fueling a boom in population growth.
In conclusion, North Charleston's growth story is a testament to the interconnectedness of economic prosperity, job development, and overall quality of life. The WalletHub study serves as a valuable tool for understanding and benchmarking the socio-economic progress of cities across the United States.
