EM’s Picks for 10 Fast-Growing MSAs to Watch All Enjoy Massive Population Growth
Despite the turmoil in global markets because of the steep hike in oil prices and domestic concerns about inflation, quite a few local markets are powering through these challenges to log impressive growth metrics.
When updating our database of economic indicators for the 300-plus U.S. Metropolitan Statistical Areas (MSAs), Electrical Marketing’s editors look at electrical contractor and industrial employment trends to calculate estimated electrical sales potential; track five-year trends and year-over-year population growth; and watch single-family and multi-family building permits.
We found 10 MSAs that stand out (see chart below) as local areas to watch for 2027 growth potential, and an impressive number of other local markets that just missed the cut. There were both familiar names in our Top 10, like the Dallas, Houston, Austin, Charlotte, Raleigh, Las Vegas and Boise metros, and some new MSAs on our list, like Columbus, OH; Charleston-North Charleston, SC; Lakeland-Winter Haven, FL; and Provo-Orem, UT.
We believe many of the metros on this list have estimated total electrical sales potential topping $1 billion, but some fast-growing smaller MSAs in the Top 10 had estimated sales potential of $500 million or less, including Provo-Orem, Charleston-North Charleston; and Lakeland-Winter Haven. And while most of these fast-growing metros were in the Sunbelt or Intermountain states, Columbus, made the list on the strength of its +5.2% increase in YOY total electrical sales potential that we believe is supported by the many massive data center projects being built in Ohio.
Another common denominator for all of the metros on our list is impressive population growth. All of these MSAs either had gained more than 100,000 new residents over the past five years or had enjoyed double-digit population growth from 2020 to 2025.
Along with the impressive growth of these markets, some other fast-growing markets that also look promising for 2027 include all of Florida’s largest metropolitan areas (Miami, Orlando, Tampa-St. Petersburg, Jacksonville, Sarasota and Fort Myers); Phoenix, AZ; and Atlanta, GA.
EM subscribers can download data on sales potential, population growth and building permits for more than 300 MSAs by clicking here.
About the Author
Jim LucyJim Lucy
Editor-in-Chief
Over the past 40-plus years, hundreds of Jim’s articles have been published in Electrical Wholesaling and Electrical Marketing newsletter on topics such as the impact of new competitors on the electrical market’s channels of distribution, energy-efficient lighting and renewables, and local market economics. In addition to his published work, Jim regularly gives presentations on these topics to C-suite executives, industry groups and investment analysts.
He launched a new subscription-based data product for Electrical Marketing that offers electrical sales potential estimates and related market data for more than 300 metropolitan areas, and in 1999 he published his first book, “The Electrical Marketer’s Survival Guide” for electrical industry executives looking for an overview of key market trends.
While managing Electrical Wholesaling’s editorial operations, Jim and the publication’s staff won several Jesse H. Neal awards for editorial excellence, the highest honor in the business press, and numerous national and regional awards from the American Society of Business Press Editors. He has a master’s degree in Communications and a bachelor’s degree in Journalism from Glassboro State College, Glassboro, N.J. (now Rowan University).