Killeen expected to see nation’s 3rd largest growth in households

Friday, December 7, 2012 - 12:12pm

The Killeen-Temple-Fort Hood MSA is projected to experience the nation’s third largest percentage growth in households over the next five years, according to Pitney Bowes Software’s inaugural Metro Magnets Index. Between 2012 and 2017 the MSA is expected to add 10,874 households increasing the total number of households by 7.2 percent.

The MSA currently has 145,575 households, with that number projected to increase to 156,043 in 2017. That increase puts the Killeen area behind only Provo-Orem, Utah and Austin-Round Rock- San Marcos, both with a projected increase of 7.4 percent, and tied with Raleigh-Cary, N.C. for the nation’s largest percentage increase among major metropolitan areas with at least 100,000 residents.

“Being ranked third in the nation is a significant thing,” said John Crutchfield, President/CEO Greater Killeen Chamber of Commerce. “The message it sends the market is powerful and it reinforces that Killeen is a prosperous community that just continues to grow.”

The Pitney Bowes Software’s Metro Magnet Index analyzed 384 U.S. metropolitan areas and found that 98 percent of those are expected to increase in the number of households while just eight areas are projected to experience a decrease. According to the study, household growth rates are slowing in Texas, however the state is still one of the fastest growing areas with five separate metropolitan areas in the top ten for projected percentage increase in the number of households. Along with the Austin and Killeen areas, San Antonio, Houston and McAllen/Mission all have growth rates above 6.6 percent for the five-year period.

“Projected household growth is a critical indicator for the economic prospects of a specific geographic area, and this data can help real estate, retail and a range of other businesses, plan their growth strategy scientifically,” said John O’Hara, President of Pitney Bowes Software.

Another Texas town topped the list for largest absolute growth, which is the total number of households the area is expected to add. The Houston area is projected to add the largest number of households with 140,562 by 2017. Also in the top ten for absolute growth is Dallas with 80,251 households, San Antonio with 55,017 household, Austin with 49,074 households, and Fort Worth with 48,363 households.

To read the full story please visit http://news.pb.com/article_display.cfm?article_id=5358.

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