Colorado Springs is the 14th fastest-growing metropolitan area.
According to a Pitney Bowes survey, the city is projected to grow 6.2 percent – or add 15,459 households – in the next five years, an annual rate of 1.3 percent. That’s in line with national trends, with 98 percent of U.S. metropolitan areas expected to grow between 2012 and 2017.
The projected rate is slower than in past years, the survey said. The annual rate from 2000 to 2010 was 2.3 percent. The projected growth is also consistent with the rest of the nation. Growth is expected to slow from the previous decade in 78 percent of metropolitan areas.
Colorado Springs ranked just ahead of Fort Collins, which is 15th on the list. Denver did not make the list for the top 50 projected percentage growth, but was number 15 for the top 50 areas in projected absolute growth.
Denver’s population is expected to grow by 4.1 percent, or 41,175 households. Colorado Springs ranked 49th on the list of absolute growth.
The fastest growing areas in the country are Provo-Orem in Utah, with a projected percentage growth of 7.4 percent, or 10,874 households. Austin-Round Rock MSA in Texas is second and the Killeen MSA in Texas is third.
In terms of absolute growth, Houston makes the number one spot, followed by Atlanta; Washington, D.C.; and Dallas.
Detroit and Charleston, W.V., are the two major metropolitan areas that will see a decline in the number of households during the next five years.
Pitney Bowes analyzed 384 metropolitan areas as part of the first Metro Magnets Index.
“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,” said John O’Hara, president of Pitney Bowes Software. “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.”