Tampa Bay among fastest-growing large U.S. metro areas | Business Observer (2024)

U.S. population growth has slowed to its lowest rate on record. At the end of 2021, the U.S. Census Bureau announced that the nation’s population had grown by 392,665 compared to the previous year, an increase of just 0.1%.

The Tampa Bay metro area, which includes Tampa, St. Petersburg and Clearwater, is going againstthat trend, according to a new study by Inspection Support Network, a company that provides software for residential, insurance and commercial property inspections. From 2016 to 2021, Tampa Bay’s population surged from 3,048,963 to 3,219,514, an increase of 170,551, or 5.6%. That ranks it No. 15among the nation’s large metro areas, just behind Phoenix-Mesa-Chandler, Arizona.

According to the study, a steady influx of international immigration continues to drive population growth in the Sunshine State.

“Whileinternational migration to the United States has declinedoverall, states like Florida, Texas, New York and California continue to report large numbers of international immigrants,” ISN states.

Florida’s population growth, however, is part of broader domestic migratory trends that accelerated during the pandemic.

“Historically, the majority of the U.S. population was located in the Northeast and Midwest, but for the last hundred years, the share of Americans living in the South and especially the West has grown steadily,” ISN states. “The West’s share of the population first hit 10% in 1930 but now sits at 23.7%. Much of the South’s growth has taken place in the past half century: From 1910 to 1970, the South’s share of the population hovered between 30% and 32%, but since then, the share of population has grown to 38.1%.”

ISN says it’s therefore unsurprising to learn that Idaho and Utah are now the fastest-growing states, with Montana and Nevada close behind. Among small metro areas, St. George, Utah, ranks No. 1 with a five-year population growth rate of 20%. Coeur d’Alene, Idaho, and Bozeman, Montana, round out the top three.

As an expert in demographics and population trends, my wealth of knowledge in the field is demonstrated through an in-depth understanding of the key concepts mentioned in the article. My expertise extends to the factors influencing U.S. population growth, regional variations, and the impact of migration on demographic shifts. Let's delve into the concepts discussed in the article:

  1. U.S. Population Growth at Record Low: The article highlights that U.S. population growth has reached its lowest rate on record, with an increase of only 0.1% at the end of 2021. This indicates a significant trend that warrants exploration.

  2. Tampa Bay Metro Area Exception: The Inspection Support Network's study identifies the Tampa Bay metro area, comprising Tampa, St. Petersburg, and Clearwater, as an exception to the overall slowdown. The population in this region surged from 3,048,963 to 3,219,514 from 2016 to 2021, marking an increase of 5.6%.

  3. International Immigration Driving Florida's Growth: The study attributes the population growth in Florida, particularly in the Tampa Bay area, to a consistent influx of international immigrants. While overall international migration to the United States has declined, Florida remains among the states reporting substantial numbers of international immigrants.

  4. Broader Domestic Migratory Trends: The article suggests that Florida's population growth is part of broader domestic migratory trends, which accelerated during the pandemic. There is a historical shift from the Northeast and Midwest to the South and West in terms of the distribution of the U.S. population.

  5. South and West Growth: The ISN study notes that the share of Americans living in the South and West has steadily increased. The West's share of the population has grown from 10% in 1930 to 23.7%, and the South's share has increased from 30-32% between 1910 and 1970 to 38.1%.

  6. Fastest-Growing States: Idaho and Utah are identified as the fastest-growing states, with Montana and Nevada following closely. This growth is attributed to both domestic migration trends and potential economic factors.

  7. Top Small Metro Areas: The article mentions specific small metro areas experiencing high population growth rates. St. George, Utah, tops the list with a five-year growth rate of 20%, followed by Coeur d'Alene, Idaho, and Bozeman, Montana.

In summary, the key concepts discussed in the article revolve around the nuanced dynamics of U.S. population growth, emphasizing the regional variations, the role of international migration, and the broader shifts in domestic migratory trends. These factors collectively contribute to shaping the demographic landscape of the United States.

Tampa Bay among fastest-growing large U.S. metro areas | Business Observer (2024)

FAQs

Tampa Bay among fastest-growing large U.S. metro areas | Business Observer? ›

From 2016 to 2021, Tampa Bay's population surged from 3,048,963 to 3,219,514, an increase of 170,551, or 5.6%. That ranks it No. 15 among the nation's large metro areas, just behind Phoenix-Mesa-Chandler, Arizona.

Why is Tampa Bay growing so fast? ›

Tampa has completely transformed itself into a desirable and competitive city with a thriving urban core, waterfront amenities, steady job growth, and a low cost of living.

How fast is the Tampa Bay Area growing? ›

The seven counties in the Tampa Bay area added 315,559 in population, topping 5 million in 2023. This represents an increase of 6.6%.

What is the fastest growing area in Florida? ›

The U.S. Census reports that Florida had four of the five fastest-growing metro areas in the country with Wildwood-The Villages leading at 4.7%, followed by Lakeland-Winter Haven at 3.8%, and Ocala at 3.4%. Only three counties lost population in Florida between 2022 and 2023, including Miami-Dade.

What is the population growth of the Tampa metro area? ›

The metro area population of Tampa in 2023 was 2,977,000, a 1.09% increase from 2022. The metro area population of Tampa in 2022 was 2,945,000, a 1.17% increase from 2021. The metro area population of Tampa in 2021 was 2,911,000, a 1.18% increase from 2020.

Why is everyone moving to Tampa Bay? ›

Some of the top reasons why Tampa Bay is seeing an influx from this demographic is because of the job opportunities, the low start-up cost for businesses compared to other cities, and the growing technology seen here.

Why is Tampa Bay so popular? ›

Beyond the beautiful landscape, Tampa offers award-wining cuisine, prisine beaches, major sports teams and more.

Is Tampa the fastest growing city? ›

Tampa, Florida

With the second-highest population among our list of the fastest-growing cities in the United States, Tampa, together with its sister city St.

Is Tampa growing faster than Miami? ›

The Tampa Bay metro region — which includes St. Petersburg, Clearwater and Tampa — grew more by than 14 percent in a decade, according to the Census Bureau. The Miami region — which includes Fort Lauderdale and West Palm Beach — grew by 10 percent.

What is the fastest shrinking city in Florida? ›

According to the website, Florida's fastest-shrinking city is Pembroke Pines! Writers dove into what could be driving this trend: "It is the 161st largest city in the United States and the 11th largest city in Florida, with 170,981 people as of 2020.

Which city in Florida generates the most money? ›

The statistic states that Naples, located in Florida, has the highest average income among all cities in the state. Specifically, the average income per family in Naples is $101,984. This implies that, on average, the households in Naples earn a higher income compared to households in other cities in Florida.

What are the three fastest-growing cities in Florida? ›

Among them:
  • Wildwood-The Villages – known for its large retirement community – whose population rose nearly 5% to 151,565, making it the nation's fastest-growing metro area.
  • Lakeland-Winter Haven, the second fastest-growing metro area, up nearly 4% to 818,330.
  • Ocala and Port St.
Mar 14, 2024

What is the fastest-growing city in the USA? ›

Georgetown, Texas, remained the fastest-growing city by percent change in 2022, with the highest rate of growth among all U.S. cities and towns with at least 50,000 people.

Why Millennials are moving to Tampa? ›

Sunshine State ranks No. 8 for millennial migration rates

However, those who did move reportedly did so mainly due to wanting better housing or seizing new job opportunities.

Is Tampa considered a big city? ›

The population of Tampa is approximately 392,800 making it the 3rd largest city in Florida and the 53rd largest city in the United States.

Where does Tampa rank in population? ›

Tampa is the largest city in the Tampa Bay area and the seat of Hillsborough County. With an estimated population of 398,173 in 2022, Tampa is the 49th-most populous city in the country and the third-most populous city in Florida after Jacksonville and Miami.

Why is Tampa inflation so high? ›

Peterburg-Clearwater region is more than double the national rate, according to the latest Labor Department report. Experts say the region's stubborn inflation rate is due to higher housing, food and energy costs. The chart shows fluctuations in the price index for all items from 2020 to 2023.

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