U-Haul ranks top 25 cities for growth: See where Knoxville falls
In yet another sign that Knoxville remains a popular new hometown for out-of-state transplants, U-Haul's annual growth index report has ranked the Scruffy City as the No. 17 U.S. growth city in 2023.
The U-Haul growth index analyzed one-way customer moves during the past year. Knoxville catapulted back into the top 25 growth cities after missing the list the previous two years, the report said. Knoxville was the seventh-ranked U.S. growth city in 2020.
“Knoxville has a great sense of community and is naturally beautiful. It’s no surprise that people want to move here,” U-Haul Company of Knoxville president Clay McQuade said in a press release. “I think we are continuing to see the trend of people moving from large metro areas into small and mid-size cities."
McQuade cited projections that Knox County's population is expected to reach 557,000 in 2040, adding, "The reason many of these people are moving to Knoxville is because of the appealing lifestyle and low cost of living.”
Breaking down the numbers that make Knoxville a top growth city
U-Haul calculates growth cities by each city’s net gain (or loss) of one-way equipment from customer transactions in a calendar year. The U-Haul growth index is compiled from more than 2.5 million one-way U-Haul truck, trailer and U-Box moving container transactions that occur annually across the U.S. and Canada.
While one-way U-Haul customers arriving in Knoxville fell almost 8% from 2022, departures fell more than 10% as overall moving traffic slowed, U-Haul said. With fewer residents leaving, arrivals accounted for a greater segment of the overall DIY moving population in Knoxville. This led to a bigger net gain of U-Haul customers.
How does Knoxville compare to other cities?
Knoxville is one of two Tennessee markets to make the list, along with No. 21 Murfreesboro. Clarksville and Chattanooga landed just outside the top 25 growth cities.
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U-Haul found seven Florida markets among the top 25 U.S. growth cities, marking the seventh year in a row the Sunshine State has had the most cities on the list. The Palm Bay-Melbourne market was the No. 1 growth city.
Texas, the U-Haul No. 1 growth state for the third year in a row, has four cities on the national growth cities list and three in the top 10, led by Austin at No. 5.
2023 top U-Haul U.S. growth cities
Palm Bay-Melbourne, Fla.
Ocala, Fla.
Charleston-North Charleston, S.C.
Sarasota-Bradenton, Fla.
Austin, Texas
College Station-Bryan, Texas
Charlotte, N.C.
Huntsville, Ala.
Dallas, Texas
Myrtle Beach-North Myrtle Beach, S.C.
Kissimmee-St. Cloud, Fla.
Panama City-Panama City Beach, Fla.
North Port, Fla.
Boise, Idaho
Wake Forest, N.C.
Conroe, Texas
Knoxville
Surprise, Ariz.
Auburn-Opelika, Ala.
Lakeland, Fla.
Murfreesboro
Wilmington, N.C.
Queen Creek, Ariz.
Henderson, Nev.
Nampa, Idaho
Liz Kellar is a Tennessee Connect reporter. Email liz.kellar@knoxnews.com.
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This article originally appeared on Knoxville News Sentinel: U-Haul ranks Knoxville among top 25 cities for growth
