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While it remains to be seen whether the broad trend of urbanization will continue into the future, a new report from Washington D.C.-based economic and demographic data firm Woods & Poole Economics, Inc. projects that the population of several U.S. metro areas is likely to swell by over 50% in the coming decades.
Population change is the end result of two factors: migration and natural change. Migration is the net change of people moving to and from an area, while natural change is the number of births less the number of deaths.
Accounting for these factors and anticipating future trends, the population of the Las Vegas-Henderson-Paradise metro area in Nevada is projected to grow from 2,335,600 in 2022 to 4,450,000 in 2060. The 90.5% projected population growth in the metro area is the fifth highest of all 384 U.S. metro areas.
Economic opportunity is one of the most common reasons people move within the United States. Over the same period, employment in Las Vegas is projected to grow by 118.0% by 2060, while personal income per capita is projected to grow from $58,349 in 2022 to $349,846 in 2060.
All data in this story is from Woods & Poole Economics, Inc., Washington D.C. Copyright 2022.