North Dakota Leads Nation In Population Growth

Posted by Orb Staff on December 21, 2012 No Comments
Categories : Residential Mortgage

12958_flag_of_north_dakota.svg North Dakota Leads Nation In Population Growth Originators in search of a fast-growing market should consider setting up shop in North Dakota. According to new data released by the U.S. Census Bureau, North Dakota's total population climbed by 2.1% between July 1, 2011, and July 1, 2012. This is the fastest growth of any state, and nearly three times faster than the nation as a whole.

Following North Dakota in terms of percent increase over the same period were the District of Columbia (2.15%), Texas (1.67%), Wyoming (1.6%), Utah (1.45%) and Nevada (1.43%).

The U.S. as a whole saw its population increase by 2.3 million from 2011 to 2012, to 313.9 million, for a growth rate of 0.75%. The only states to lose population between July 1, 2011, and July 1, 2012, were Rhode Island (-0.03%) and Vermont (-0.09%).

North Dakota ranked 37th in growth between the 2000 and 2010 censuses and climbed to sixth between 2010 and 2011. However, the state's population growth has already raised red flags concerning housing. In September, the North Dakota Housing Finance Agency (NDHFA) issued a warning that the state will not have an adequate supply of affordable housing to keep up with the growing number of residents. NDHFA estimates North Dakota will experience a 25% population increase by 2025, with a 50% increase in 10 counties in the burgeoning oil region.

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