fastest growing metro areas phoenix
  • Population: 4.4 million
  • % gain : 1.6%
  • New residents: 71,130

Phoenix is starting to rise from the ashes of the housing bust.

After being one of the hardest hit cities during the foreclosure crisis, home prices have come roaring back. Construction workers idled during the housing bust are back at work rehabbing foreclosed homes and other distressed properties so they can be put back on the market or rented out.

Other jobs are coming back, too, in industries like renewable energy, aerospace, bio-med and business services, according to the Greater Phoenix Economic Council. And recently Apple (AAPL) announced it would build a plant in nearby Mesa that would employ more than 2,000 workers.

Still, unemployment remains relatively high. In January, the unemployment rate was 6.7% -- about on par with the national level -- and about 0.8 percentage points lower than last year.

First published March 27, 2014: 12:25 AM ET
Source: Based on U.S. Census Bureau population data for July 1, 2012 through July 1, 2013. Rankings are based on largest percentage population growth in metro areas with a population of one million or more.

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