According to Businesswire.com, the global construction industry is expected to reach around $10.5 trillion by the year 2023. Within the United States, the construction industry is expected to hit 2.3 trillion over the next five years as the economy recovers from the pandemic.
In other words, the construction industry is a hotspot of opportunity for those looking for work. But the rate of growth across the United States is not uniform, with certain cities growing at higher rates and thus offering greater residential and commercial construction opportunities.
Here are five top cities within the U.S. where residential and commercial construction are experiencing high growth.
1. The Villages, Florida
This census-designated place is one of the country’s fastest growing cities and leads the charts of American cities investing the most in new housing.
As of April 2020, The Villages is building 227.4 new housing units for every ten-thousand people. If you’re not really sure how that compares to other cities, the next closest city is building almost 60 homes less per the same ten-thousand people.
2. St. George, Utah
The next city behind The Villages in terms of investing the most in housing is St. George, Utah. Located in the southwestern corner of Utah near the Arizona border, this city only has a total population of around 90,000. But as mentioned, it is currently building 161.1 housing units per ten-thousand people. What makes Utah unique compared to The Villages, is that 35.6% of the housing units in St. George are designated as multi-family.
3. San Jose, California
Leading the County in construction spending is California. With a total of 1,302 projects worth more than $500 billion, California has both the largest number and value of projects.
Not surprisingly, Los Angeles and San Francisco, two of the state’s most populated cities, are experiencing significant construction growth. But San Jose currently offers tremendous potential for high construction growth.
Assuming it clears all city approvals and regulatory hurdles, San Jose could be home to Google’s massive, 80-acre mixed-use campus. The campus would transform the western edge of the city’s downtown area and offer a plethora of construction opportunities, both residential and commercial.
4. Dallas, Texas
Right behind California in construction spending is Texas. And one of the state’s cities best suited for high-growth construction work is Dallas.
As of December 2020, Dallas led the country in construction job gains. In fact, Dallas added more construction jobs than any other U.S. metropolitan area. And it is not hard to see why. Dallas has seen huge increases in industrial building construction. And residential construction projects are not lacking either, with 62,563 new housing units on the books.
5. Seattle, Washington
Seattle is home to some of the world’s biggest tech giants: Amazon, Expedia, and Microsoft. In fact, Seattle is rapidly transitioning into a Silicone-Valley type area. As such, unemployment is low and job density is high, which makes Seattle a prime location for multi-family residential construction. The number of businesses growing within the city also means there is a high demand for office-space construction.
Looking for construction jobs in these cities poised for growth? See who is hiring at CyberCoders.com.