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Report: Downtown Miami Among Fastest-Growing Neighborhoods in U.S.

Coming in at No. 4

Miami was recognized in a Realtor report naming the Top 10 Boom Towns Across America, with Downtown Miami coming in at No. 4 with a projected five-year household growth of about 14.9 percent.

"Sure, Miami is hot: Hot weather, hot nightlife, hot housing. But compared with South Beach and its legendary party scene, Miami’s downtown, midtown, and port areas used to be far less exciting at night—or just about at any time, really. But in recent years, urban development with projects such as Miami World Center have brought tens of thousands of new residents to the area. Millennial professionals are attracted to the nightlife, restaurants, and shopping, as well as the ability to walk to work.

The top three are below:

1. Power Ranch, Gilbert, AZ (85297)

Projected five-year household growth: 15.9%

2. Historic Cultural Center, Los Angeles, CA (90012)

Projected five-year household growth: 8.8%

3. Downtown, Dallas, TX (75201)

Projected five-year household growth: 14.9%

There methodology:

"America’s Top Boom Towns are demonstrating some of strongest growth in jobs, household formation, and housing starts across the country. Every market on the list has experienced between one and five times the average job growth of the top 100 counties in the country. Household growth in each of these areas is between one and seven times the average growth of the top 100 areas. New home starts are between one and six times the average growth in the top 100 counties. Most importantly, each individual ZIP code is projected to see a growth in households of between nine and 19 percent over the next five years."