SPRINGDALE (KFSM) — Springdale was recently ranked as the nation’s sixth fastest-growing small city and 17th fastest-growing overall, according to personal fiance website WalletHub.
Springdale moved up two spots from last year’s small city rankings and is the only Arkansas city ranked inside the top 30. WalletHub classifies small cities as those with fewer than 100,000 people.
“More and more families are choosing to move to Springdale because of our job opportunities, top-tier school system, and safe, family friendly environment with high-quality amenities,” said Mayor Doug Sprouse.
“We have a strong economy in Springdale, and this population growth helps to support the entire community by increasing the City’s sales tax base that pays for vital services such as police and fire. Population growth also helps to support local businesses that create jobs.”
WalletHub compared 515 cities of varying population sizes based on 15 key measures of both growth and decline over a period of seven years. Its data set ranges from population growth to unemployment rate decrease to growth in regional GDP per capita. Small cities are those with fewer than 100,000 people.
WalletHub’s methodology compared cities based on two key dimensions: Sociodemographics and Jobs & Economy. These dimensions were then evaluated using 15 relevant metrics. Springdale rated 16th in Sociodemographics and 61st in Jobs & Economy.
Sociaodemographics includes population growth, working-age population growth and college-educated population growth. Jobs & Economy metrics include 12 categories including population and job growth, poverty rate decrease, working-age population growth and regional GDP growth.
Springdale rated 29th in the nation in population growth, 34th in poverty rate decrease, 36th in job growth, 48th in foreclosure rate decrease, 49th in working-age population growth and 60th in regional GDP growth.
“We are extremely pleased to be rated one of the nation’s fastest growing economies once again,” said Perry Webb, president of the Springdale Chamber of Commerce.
“We’re a Top 20 city in sociodemographics — growth in overall population, working-age and college-educated population growth. And, we’re in the top 12 percent of the country in the more specific metrics used to evaluate Jobs & Economy,” Webb added. “Springdale has never enjoyed this kind of economic and community growth and expansion.”
Fayetteville was the only other Arkansas city to break the top 100 in either category, ranking No. 14 among small cities and No. 35 overall.
