Report: Phoenix-area city 1 of the fastest-growing in the U.S.

If you find yourself in the west Valley, you could be in one of the fastest-growing cities in the United States.

Surprise, Arizona ranked No. 5 overall in Wallethub’s report on the fastest-growing cities of 2016.

The personal finance website which produces research reports and surveys compared 515 U.S. cities of varying population sizes based on 14 “key indicators of rapid economic growth.”

These key indicators or metrics -- ranging from population growth to unemployment rate decrease, growth in regional GDP per capita, increase in the number of businesses and more -- were analyzed using data from 2009 to 2015.

The data was then graded on a 100-point scale -- 100 representing “optimal economic growth.” An overall score for each city was calculated using a weighted average across all 14 metrics.

With an overall score of 63.43, Surprise ranked just below No. 4 Kent, Washington's 64.09. The next Arizona city to make the list was Gilbert at No. 57.

The fastest-growing city according to the report is Frisco, Texas.

“Experts might not agree on the “best” or the “right” recipe for rapid economic growth, but some cities have figured out the key ingredients and how to stir the pot just right to sustain long-term prosperity,” the website wrote.

Copyright 2016 KPNX


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