America's Fastest-Growing Cities 2017-2018
Samantha Sharf, Forbes Staff
Founded just 60 years ago as a master planned community on Florida's west coast, Cape Coral has spent most of its history in the shadow of its bigger neighbors Miami, Tampa and Orlando. Then when the bottom fell out of the national housing market in 2008, Cape Coral was hit particularly hard.
"We went from top of lists for fastest-growing cities to the top of list of cities with most foreclosures," says Connie Barron, spokesperson for the city. Close to a decade later things are looking up. People--retirees especially--are being drawn to the area by sunshine (335 days a year), safety (the city consistently has among the lowest crime rates in Florida) and low taxes (no state income tax and the city has been lowering property taxes).
By every metric that counts, Cape Coral and the surrounding towns are enjoying among the swiftest growth rates in the country. This expansion earns the Cape Coral-Fort Myers metropolitan area the top spot on Forbes' 2017 list of America's fastest-growing cities.
The metro area's population of 702,000 grew 3.39% in 2016, more than any other major metro in the country. This year Moody's Analytics--our data provider for this list--expects the population of the Cape Coral-Fort Myers area to expand even faster--3.61%. Moody’s also projects that it will have the highest rates of employment growth (3.83%) and output growth (6.82%) this year thanks to expanding hospitality and housing markets.
"Slowly but surely, we are pulling ourselves out from that abyss," says Barron, noting that the city is focused on "reasonable" rather than "crazy" growth.
Florida dominate our list with nine of the 25 fastest-growing cities, more than any other state, including six of the top 10. Meanwhile, cities from other areas of the South and the West Coast make up most of the rest of the list.
Behind the Numbers
The aim of Forbes’ annual list of America’s fastest-growing cities is to give a holistic picture of places on the upswing. That means looking not just at job, population or output growth individually, but considering how these important measures and others come together. It means looking back to see which cities grew the most in 2016 and forward to project which cities will make strides in 2017.
Moody’s Analytics provided the data, as well as insights that helped us improve the methodology we’ve used in the past. For each of the 100 largest metropolitan statistical areas in the United States, Moody’s provided growth rates in five key areas:
Population—using data from the U.S. Census Bureau
Employment—using non-farm employment data from the Bureau of Labor Statistics’ establishment survey
Wages—using data from the Bureau of Economic Analysis
Output—using real gross metro product data from BEA and BLS
Home values—as a proxy for household wealth, using home price growth from Federal Housing Finance Agency, Fannie Mae and Freddie Mac
Moody’s provided 2016 growth rates (estimates until the last of the data come in) and 2017 projections. Forbes ranked the 100 metro areas by each of the 10 data sets (five metrics times two years) and equally weighted the results of each to get a composite ranking.
About Cape Coral
Cape Coral is a vibrant and friendly community with all the beauty that you expect from Southwest Florida. With over 400 miles of salt and fresh water canals, it is a boaters "Paradise". Cape Coral is made up of 114 square miles of land and is the largest city in Southwest Florida and the largest between Tampa and Miami. With golf courses, tennis courts, boat ramps, athletic parks, natural preserves and more, the quality of life in Cape Coral is second to none.
The City of Cape Coral has some of the best parks and recreation programs in the state, providing all types of activities and programs for young and the young at heart. To satisfy the cultural and recreational needs of a diverse population, Cape Coral residents and visitors are within easy reach of all sorts of activities and amenities. Shopping and dining; theater and art; sports, from children's leagues to professional team; clubs and organizations that appeal to just about every taste and hobby; and environmental activities, from kayaking to visiting our burrowing owl neighbors. Our city continues to be a safe community while Cape Coral's police and fire department are proactive, working with the community to make it safe for all.
Its History
Until the birth of Cape Coral, the area was simply known as “the other side of the river” by homesteaders, loggers, cattlemen, professional fishermen, and sportsmen. However, in 1957 Leonard and Jack Rosen changed that by purchasing a 103 square mile tract, known as Redfish Point, for $678,000. The Gulf American Corporation (GAC) was formed to develop this “Waterfront Wonderland” and on November 4th of that year, ground was officially broken as Cape Coral.
Early in 1958, a stretch of “Miracle Mile”, later named Cape Coral Parkway, extended east from Coronado for one mile, and a main intersection was soon formed where it met Harney Point Road, now Del Prado Blvd. There was only one building located in Cape Coral, which was a four-plex at the corner of Cape Coral Parkway and Coronado Parkway, housing land sales offices.
Through GAC, the development grew at a remarkable pace, and on June 10, 1958, the first residents moved in. These pioneers had to drive forever to get anywhere – 20 miles for a loaf of bread! Cape Coral was promoted like no other Florida development, through a mail order program with ads on radio, television and print media. In 1959, water view home sites were sold for $990, waterfront was sold for $1,900, and riverfront cost $3,390. Property sales reached over $9 million after the first year and planeloads of curious northerners were soon flown down for a quick look and a heavy sales pitch, landing an out-of-the-way strip, now called 47th Terrace.
On March 14, 1964, the two-lane Cape Coral Bridge was opened to traffic, making the area even more accessible to potential buyers. Interestingly, as far back as 1959 when the best location for a bridge was being considered, engineers picked a location connecting Everest Parkway with Colonial Blvd., now the location of the Midpoint Memorial Bridge. However, due to construction costs and proximity to the area of initial development, the Cape Coral Parkway to Braden-Sutphin Rd. (now College Parkway) route was chosen. The city was incorporated in 1970 with a population of 11,470, making it the 3rd largest city in a land mass in Florida.
Samantha Sharf, Forbes Staff
Founded just 60 years ago as a master planned community on Florida's west coast, Cape Coral has spent most of its history in the shadow of its bigger neighbors Miami, Tampa and Orlando. Then when the bottom fell out of the national housing market in 2008, Cape Coral was hit particularly hard.
"We went from top of lists for fastest-growing cities to the top of list of cities with most foreclosures," says Connie Barron, spokesperson for the city. Close to a decade later things are looking up. People--retirees especially--are being drawn to the area by sunshine (335 days a year), safety (the city consistently has among the lowest crime rates in Florida) and low taxes (no state income tax and the city has been lowering property taxes).
By every metric that counts, Cape Coral and the surrounding towns are enjoying among the swiftest growth rates in the country. This expansion earns the Cape Coral-Fort Myers metropolitan area the top spot on Forbes' 2017 list of America's fastest-growing cities.
The metro area's population of 702,000 grew 3.39% in 2016, more than any other major metro in the country. This year Moody's Analytics--our data provider for this list--expects the population of the Cape Coral-Fort Myers area to expand even faster--3.61%. Moody’s also projects that it will have the highest rates of employment growth (3.83%) and output growth (6.82%) this year thanks to expanding hospitality and housing markets.
"Slowly but surely, we are pulling ourselves out from that abyss," says Barron, noting that the city is focused on "reasonable" rather than "crazy" growth.
Florida dominate our list with nine of the 25 fastest-growing cities, more than any other state, including six of the top 10. Meanwhile, cities from other areas of the South and the West Coast make up most of the rest of the list.
Behind the Numbers
The aim of Forbes’ annual list of America’s fastest-growing cities is to give a holistic picture of places on the upswing. That means looking not just at job, population or output growth individually, but considering how these important measures and others come together. It means looking back to see which cities grew the most in 2016 and forward to project which cities will make strides in 2017.
Moody’s Analytics provided the data, as well as insights that helped us improve the methodology we’ve used in the past. For each of the 100 largest metropolitan statistical areas in the United States, Moody’s provided growth rates in five key areas:
Population—using data from the U.S. Census Bureau
Employment—using non-farm employment data from the Bureau of Labor Statistics’ establishment survey
Wages—using data from the Bureau of Economic Analysis
Output—using real gross metro product data from BEA and BLS
Home values—as a proxy for household wealth, using home price growth from Federal Housing Finance Agency, Fannie Mae and Freddie Mac
Moody’s provided 2016 growth rates (estimates until the last of the data come in) and 2017 projections. Forbes ranked the 100 metro areas by each of the 10 data sets (five metrics times two years) and equally weighted the results of each to get a composite ranking.
About Cape Coral
Cape Coral is a vibrant and friendly community with all the beauty that you expect from Southwest Florida. With over 400 miles of salt and fresh water canals, it is a boaters "Paradise". Cape Coral is made up of 114 square miles of land and is the largest city in Southwest Florida and the largest between Tampa and Miami. With golf courses, tennis courts, boat ramps, athletic parks, natural preserves and more, the quality of life in Cape Coral is second to none.
The City of Cape Coral has some of the best parks and recreation programs in the state, providing all types of activities and programs for young and the young at heart. To satisfy the cultural and recreational needs of a diverse population, Cape Coral residents and visitors are within easy reach of all sorts of activities and amenities. Shopping and dining; theater and art; sports, from children's leagues to professional team; clubs and organizations that appeal to just about every taste and hobby; and environmental activities, from kayaking to visiting our burrowing owl neighbors. Our city continues to be a safe community while Cape Coral's police and fire department are proactive, working with the community to make it safe for all.
Its History
Until the birth of Cape Coral, the area was simply known as “the other side of the river” by homesteaders, loggers, cattlemen, professional fishermen, and sportsmen. However, in 1957 Leonard and Jack Rosen changed that by purchasing a 103 square mile tract, known as Redfish Point, for $678,000. The Gulf American Corporation (GAC) was formed to develop this “Waterfront Wonderland” and on November 4th of that year, ground was officially broken as Cape Coral.
Early in 1958, a stretch of “Miracle Mile”, later named Cape Coral Parkway, extended east from Coronado for one mile, and a main intersection was soon formed where it met Harney Point Road, now Del Prado Blvd. There was only one building located in Cape Coral, which was a four-plex at the corner of Cape Coral Parkway and Coronado Parkway, housing land sales offices.
Through GAC, the development grew at a remarkable pace, and on June 10, 1958, the first residents moved in. These pioneers had to drive forever to get anywhere – 20 miles for a loaf of bread! Cape Coral was promoted like no other Florida development, through a mail order program with ads on radio, television and print media. In 1959, water view home sites were sold for $990, waterfront was sold for $1,900, and riverfront cost $3,390. Property sales reached over $9 million after the first year and planeloads of curious northerners were soon flown down for a quick look and a heavy sales pitch, landing an out-of-the-way strip, now called 47th Terrace.
On March 14, 1964, the two-lane Cape Coral Bridge was opened to traffic, making the area even more accessible to potential buyers. Interestingly, as far back as 1959 when the best location for a bridge was being considered, engineers picked a location connecting Everest Parkway with Colonial Blvd., now the location of the Midpoint Memorial Bridge. However, due to construction costs and proximity to the area of initial development, the Cape Coral Parkway to Braden-Sutphin Rd. (now College Parkway) route was chosen. The city was incorporated in 1970 with a population of 11,470, making it the 3rd largest city in a land mass in Florida.
Cape Coral's Future:
Seven Islands, Bimini Basin and Academic Village
CAPE CORAL......The Beginning!
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The following 1961 recording is from the 1930's sports announcer Bill Stern, authorized and paid for by the Rosen brothers, owners and developer of Cape Coral. The record was mailed to thousands of people all over the country looking to retire someday in "Beautiful Sunny Florida". . . . . and the rest is history! (This recording may only be audible on more recent tablets and mobile devices and may not work on your computer. If requested, we will be happy to email you a copy of the recording) |
Cape Coral Trivia.....The 1960's Movie "The Fat Spy"
The Worst Movie Ever Shot in Cape Coral
Starring Comedian Phyllis Diller and Sex Bombshell Jane Mansfield
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"If you can’t get enough of Cape Coral in real life, just imagine what the area is like on the big screen. Hollywood movie makers brought the city to the masses with the self-dubbed “Worst Movie Shot in Cape Coral”. The honor goes to a movie called “The Fat Spy’’, shot in Cape Coral and released in the mid-1960s. It wasn’t exactly a favorite among moviegoers but it’s definitely memorable for many area residents.
For a time it was common to spot famous actors and actresses dining at local restaurants or simply lounging beside the pool in Cape Coral. Some famous names appeared in the old flick including Phyllis Diller, Jayne Mansfield, comedian Jack Leonard, plus some locals who were cast as extras. While the movie and its plot have been described as “hokey” at best, or even as a spoof of the better received “Beach Blanket Bingo”, the actual movie shot in Cape Coral proved much more valuable to the growing area. Few movies have been shot in Cape Coral at all, but “The Fat Spy” is perhaps top of the list in notoriety, even if it’s counted as one of the worst movies ever made. That’s because it’s said some developers orchestrated the entire thing as part of a publicity stunt. They shot scenes in hot spots like the beach, Cape Coral Yacht Club and the former Cape Coral Gardens. While the movie may have tanked at the box office, it gained a great deal of media coverage at the time, something many people believe may have helped to put Cape Coral on the map. While it’s probably been viewed more in recent years than it ever was at the time, you can still view this movie on Utube. |
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Cape Coral Salt Water and Fresh Water Canals
Cape Coral Canal System and Boat Ramps
Cape Coral Parks
One of the 2500 Burrowing Owls in Cape Coral - just a few lots over from where we are building.