Most of America's population growth over the last decade has occurred in one region: the Sun Belt.
The Sun Belt now holds about 50% of the U.S. population and has driven 80% of total national population growth in the last 10 years. Established cities like Dallas, Austin, Charlotte, Orlando and Tampa are leading the nation in both domestic migration and corporate relocations.
People are drawn to the Sun Belt due to lower costs of living, low or no state income taxes and employment opportunities.
However, Sun Belt states are also increasingly attracting costly natural disasters, including hurricanes, coastal flooding and wildfires. Insurance prices have spiked in many areas, with homeowners insurance increasing by more than 35% in Arizona and Texas in the span of two years.
Major insurers have pulled back in parts of the Sun Belt, reducing or restricting coverage and sometimes pulling out of high-risk areas entirely.
While residential development in the region continues at a rapid pace, some real estate values are decreasing due to higher insurance prices and interest rates.
The slideshow above highlights 10 of the fastest-growing ZIP codes in America, according to RentCafe.
Credit: trekkerimages/Adobe Stock
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