Real Estate News
Katy just keeps on growing: No. 1 in national survey
A recent report by the Gadberry Group listing the 10 most high-growth areas in the U.S. placed Katy as No. 1.
Katy’s exponential development, boasting an 8.71 percent increase from 2009 to 2010, seemed largely unaffected by the economic challenges encountered in other parts of the nation. Having been one of the top 25 suburbs in 2008 and number five in 2009, this standing makes Katy the fourth fastest growing area since 2000 from the cities on the report’s list, adding 17,641 households and reaching a staggering 267 percent growth rate.
Cinco Ranch, a master planned community by Newland Communities , leads the expansion, primarily by developing around the Grand Parkway corridor just south of I-10, now stretching its territory to the west near Fulshear.
"Katy is fortunate to be in the perfect storm of growth,” Christi Borden, seasoned realtor with Prudential Gary Greene, explains. “Close proximity to major employers, highly ranked schools, low cost of living, many neighborhoods including Cinco Ranch, recently named the No. 1 selling master-planned community in the U.S., ever growing retail, dining and entertainment opportunities, easy commute to work, family-oriented atmosphere and now the proud new home of the Medical Center West Campus makes this area a popular job relocation destination.”
Since 2000, the Houston suburb’s household income grew over 20 percent ending at $85,810 in Dec of 2010. Popular employers in the area include Exxon, BP and Conoco.
Using its own statistical ranking system, the Gadberry Group takes into account ethnicity, household income, net worth, economic stability, length of residence and age to calculate their rankings.
Three other Texas areas made the top 10. Haslet and Keller, both Fort Worth suburbs, ranked second and third respectively, and Frisco, a Dallas suburb, ranked sixth — not bad for the Lone Star State.