Four cities in California have emerged as the nation’s latest economic hotspots, attributed to their significant growth over the past few years.
According to a report by SmartAsset, three of these cities are based in the northern part of California, an area where the tech industry explosion has dramatically spiked both population numbers and real estate values.
Interestingly, the top spot on the list is held by a city far removed from Silicon Valley’s influence.
Menifee, located in Riverside County, leads with a staggering 29% rise in housing units projected from 2019 to 2024, as highlighted in the study.
SmartAsset’s report notes, “Achieving boomtown status does not imply that every resident benefits equally, but it does indicate an increasing economic potential for the city, along with the myriad of opportunities it presents.”
The analysis evaluated over 400 cities with at least 65,000 residents, whittling it down to the 75 highest-scoring cities.
Here’s how California stacked up:
Menifee(65th on the list)
Menifee, which was only incorporated as a city in 2008, saw a 45% increase in its labor force between 2019 and 2024.
Rancho Cordova (70th)
Rancho Cordova, in Sacramento County, saw a 21% increase in housing units between 2019 to 2024, while its labor force jumped 17%, according to the study.
Santa Clara (72nd)
Home to the oldest institution of higher education in the US, Santa Clara University, the city is famous for its booming tech economy and cultural attractions. Santa Clara recorded an 11% increase in housing units and a 7% increase in labor force, the report found.
Sunnyvale, CA (75th)
Major tech giants including Yahoo and LinkedIn are headquartered in Sunnyvale, while Google, Meta and Apple have massive footprints in the city. Sunnyvale saw an 11% increase in housing units and a 6% increase in labor force, according to the study.
The overall list was topped by two Texas cities — Georgetown and New Braunfels — which both saw five-year increases of more than 30% in both labor force size and housing units.