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Last Year's Boom Towns:

Location Intelligence Firm Announces the ‘8 from 2008'

Gadberry Group names the eight most notable high-growth areas in the nation from 2008

 

January 9, 2009 – Gadberry Group today announced its list of this year's eight most notable high-growth areas in the U.S. – Gadberry Group's 8 from 2008.

Gadberry Group's 8 from 2008

“When we released the 7 from 2007 list last year we were very pleased to see how much buzz was generated,” said Gadberry Group principal, Larry Martin. Headquartered in Little Rock, Arkansas, Gadberry Group provides location intelligence services and data for the world’s top retail brands. “Repeating the list this year was a no-brainer, especially given the amount of news related to diminishing, or negative growth across the U.S. The 8 from 2008 list is a way to illustrate that although the economy and housing crisis is affecting many areas, there are still plenty of places experiencing growth.”

According to Martin, most researchers agree that Census data has been the standard for understanding the distribution and demographic makeup of the U.S. population. “But Census data is nine years old, so changes in demographic characteristics can’t be identified or measured accurately using only Census-based estimates,” he added.

Like last year, the firm employed a statistical ranking system in their evaluation of the 17,000 Census Places, using Gadberry data products. The selection criteria and ranking methodology included variables such as percent change, absolute change and the presence of emerging Census blocks (blocks with less than 10 households in Census 2000 and more than 100 households in 2008). The analysis considered the total growth from 2000 to 2008 as well as the amount of the total growth that occurred from 2007 to 2008. Gadberry also weighted the analysis using key demographic variables such as ethnicity, household income, net worth, economic stability, length of residence and age.

Taking the number one spot in this year’s list was Queen Creek, Arizona. “Queen Creek’s consistent, sustained growth is amazing,” said Martin. “When we ran the numbers we saw that the Queen Creek area added an unbelievable average of seven occupied households every day since January 1, 2000. This is truly some of the most remarkable growth we’ve ever seen.”

Also worth mentioning is the fact that six alumni from the 7 from 2007 list continued to show strong growth in 2008, ranking among the top 25. They were Goodyear, AZ, Frisco, TX, Wentzville, MO, Brighton, CO, North Port, FL, and Plainfield, IL.

 

By the Numbers – 8 from 2008

Queen Creek, Arizona

“Queen Creek has been a high profile growth area for years so we weren’t surprised to see it take the top spot this year,” said Martin. Like many other places in the southwest, the Queen Creek area continues to experience tremendous growth, expanding from 4,011 households in 2000 to 28,439 in 2008, or an increase of 609%. Queen Creek had 20 emerging census blocks, providing strong evidence for the growth in the area.

Hispanic households increased from 814 to 5,104, or 527%. Average length of residence was 2.8 years and average household income grew from $61,492 to $69,496.

On balance, it is important to also note that Queen Creek, like other places across the U.S., has suffered from the downturn in the housing market. Queen Creek ranked top in the 8 from 2008 list for highest percentage of bank owned foreclosure properties.

Enterprise, Nevada

Since 2000, households in the Enterprise area grew 448%, from 5,944 to 32,564

Gadberry’s data revealed that the average length of residence for the Enterprise area was only three years, validating the rapid and recent growth in this area. The average net worth was fourth highest among the group of eight at $468,037.

Almost as amazing as the household growth was the change in the ethnic makeup of the Enterprise area. Asian households increased an astonishing 1679% since 2000 with Chinese households making up 32% of all Asian households. Hispanic households increased by 1042%. The median age for the population decreased from 39.2 to 33.2.

Helotes, Texas

Household growth in Helotes increased from 3,080 in 2000 to 13,919 households in 2008, or 352%. Helotes’s Hispanic households, a primary driver of the growth in this area, increased 674% from 645 in 2000 to 4,994 in 2008.

According to Gadberry data, 47% of all Hispanic households in Helotes are bilingual, speaking primarily Spanish but understanding English. Median age for Helotes decreased from 39.2 in 2000 to 34 in 2008. Average household income declined from $86,699 to $83,358 while median income rose from $70,976 in 2000 to $83,294.

Wesley Chapel, Florida

The number of Wesley Chapel households grew from 11,334 in 2000 to 28,576 households in 2008, or 152%. Wesley Chapel had the largest growth in Seasonal Units of all eight places with growth of 80% – from 596 to 1,075.

Wesley Chapel had the second-largest growth in average household income increasing from $77,474 in 2000 to $102,450. Wesley Chapel also captured the second position for average net worth at $573,038.

Indian Trail, North Carolina

Indian Trail grew from 8,259 households in 2000 to 16,145 households in 2008, or 95%. Indian Trail experienced a significant increase in average household income of 38% from $63,578 to $87,707 – and a net worth of $366,825, resulting in a tie at second position for Economic Stability Index.

Castle Rock, Colorado

“Castle Rock was one of the finalists for the 7 from 2007 list and we were not surprised to see it on the final list this year,” said Martin.

Castle Rock grew from 9,936 households in 2000 to 24,584 households in 2008, or 147%. Castle Rock had 31 emerging blocks, the highest of the group. Castle Rock tied for the most favorable Economic Stability Index of the group with 29% of all households receiving the highest score for financial stability. Males slightly outnumbered females in Castle Rock and children decreased as a percent of population from 43% in 2000 to 37% in 2008.

Elk Grove, California

Household growth in Elk Grove and the surrounding area, which includes Laguna and Laguna West-Lakeside, grew from 31,311 households in 2000 to 52,570 households in 2008, or 68%. One block (060670096042000), located immediately south of the Valley Hi Golf Course, grew from 26 households in 2000 to 7,516 in 2008. Average income in this block grew from $80,956 to $121,160.

The Elk Grove area had the highest growth in average household income, increasing from $72,460 in 2000 to $100,242 in 2008. Households in the Elk Grove area also had the highest average household net worth of the 8 from 2008 group with an average of $603,516.

Gadberry data also indicates that Elk Grove is the most diverse of the eight places with non-white households making up 44% of total households.

New Orleans, Louisiana

Few would argue that New Orleans represents one of the most dramatic examples of household change in our nation’s history. Like other research firms, Gadberry monitored the Katrina tragedy and subsequent rebuilding efforts with great interest.

Using an exclusive form of data, Gadberry measured the geographic migration of displaced New Orleans households over time as they moved away from, and later returned to, their homes in New Orleans. Gadberry also measured demographic differences between returning households and new residents to the area.

For the 2008 reporting period Gadberry’s data reported a 9,901 household increase for Orleans Parish, bringing the current occupied household count in that parish to 145,994. For places with more than 100,000 households, Orleans Parish had the largest absolute household change in the nation in 2008.

 

EDITOR'S NOTE: TO ACCESS INTERACTIVE MAPS FOR POPULATION AND DEMOGRAPHIC DATA FOR THE 8 FROM 2008 PLACES,
CLICK HERE .  

About The Gadberry Group

The Gadberry Group provides location-based services and information data products for clients who demand the most current, accurate, and precise household and population data for their site location analysis. MicroBuild®, Gadberry's patent-pending product, is unique because only MicroBuild uses consumer data at the rooftop level to deliver quarterly household and population counts beginning at the Census block level. For more information about Gadberry Group, visit www.gadberry.net .