The population of the 50 states increased by an average of 1.55% over one year, SmartAsset reported this week, citing newly released Census data. Some states’ number of residents boomed, while others had only small increases or, in the case of West Virginia, had a net loss of population.
The research found that within each state, population dynamics varied from county to county. Birth rates, immigration and households relocating within the country could contribute to changes.
SmartAsset noted that sudden shifts in demographics can increase demand for housing, schools, public infrastructure and roadways, and can lead to subsequent changes in local costs, voter rolls and businesses.
For financial advisors, a rise in older people may mean an increase in local residents who need retirement planning and income help. Changes in the population of young children could hint at future trends.
SmartAsset tapped data from the U.S. Census Bureau’s 1-Year American Community Survey to rank the 50 states by their one-year change in population between 2023 and 2024. Researchers also reported changes in the relative frequencies and number of children under age 5 and seniors 65 and older, as well as county-level estimates for total population growth.
See the gallery for the 10 states with fastest population growth between 2023 and 2024.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.