Dallas is the fifth fastest growing city in the U.S. - Axios DallasLog InLog InAxios Dallas is an Axios company.

Dallas is growing really fast

Illustration: Maura Losch/Axios Dallas is the fifth-fastest-growing city in the U.S., according to a by a nonpartisan think tank affiliated with the University of North Carolina at Chapel Hill. Why it matters: The ranking validates what people have been saying about the Dallas area becoming more desirable to outsiders who want a good quality of life without having to spend all of their income to get it. The big picture: The findings highlight the U.S. population's shift toward the South and the West, the power of tech hubs and the recovery of the leisure and hospitality sectors. By the numbers: Over 97,000 people moved to the Dallas area from June 2020 to July 2021, per the report.The counties around Dallas have grown significantly, too. Collin County had the of any U.S. county in 2021, per U.S. Census data. What they're saying: "During the peak months of the COVID-19 pandemic, no metro area's population grew more than Dallas-Fort Worth," the report says.The report says our region's growth is probably driven by its diversity and the strength of its industries, including health care. Zoom out: The San Francisco Bay Area, where the cost of living remains high, holds the No. 1 spot — but UNC analysts say recent hiring freezes and layoffs, combined with the region's declining housing market, could spell trouble.Austin, the only other Texas city mentioned in the ranking, came in second this year. What's next: Because of the strength of the labor market in the first half of 2022, the UNC analysts didn't see a "meaningful slowdown" in the economy.If a slowdown materializes, they caution that the current rankings could be in limbo if tech, tourism and manufacturing are affected. Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member.

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