In this article, we list and discuss the 12 Fastest Growing Cities in Nevada. If you’re only interested in the top 5 fastest-growing cities, head over to 5 Fastest-Growing Cities in Nevada.
Much of Nevada’s population growth is driven by the economic progress of the state as it attracts migrants from across the country. In 2023, Nevada’s gross state product (GSP) reached $239 billion, and according to the US Bureau of Labor Statistics, Nevada had a civilian labor force of over 1.6 million people as of February 2024. However, any talk about Nevada’s population growth and economic progress without the mention of the state’s mining, casino, and hospitality industries would simply be incomplete.
Nevada’s Casino Resorts and Hospitality Industry
Being the largest sector by revenue in Nevada, the casino industry posted a revenue of $15.5 billion in 2023, therefore, retaining the state’s position as the country’s top gambling and gaming market. For further context, some of the largest gambling companies in the world such as Las Vegas Sands Corp. (NYSE:LVS) and MGM Resorts International (NYSE:MGM) are headquartered in Nevada.
With a market cap of $34.96 billion, Las Vegas Sands Corp. (NYSE:LVS) ranked first on our list of most valuable gambling companies in the World. The company has prosperous plans for the future, including the building of a multi-billion dollar casino, entertainment, and hospitality project on Long Island, New York. It’s interesting to note that New York, with a revenue of $4.71 billion in the gambling and gaming sector, ranks among the top five largest gambling markets in the country. Meaning, that Las Vegas Sands Corp. (NYSE:LVS)’s plans to open this casino in New York is a potentially potent move.
On the other hand, MGM Resorts International (NYSE:MGM), headquartered in Las Vegas, has a portfolio of 31 unique hotel and gaming destinations worldwide. By revenue, MGM Resorts International (NYSE:MGM) is the biggest gambling company in the world, boasting a trailing twelve-month revenue of $12.55 billion.
All in all, Nevada shows a positive economic outlook, mainly due to its gaming and gambling sector, which remains one of the major employers in the state. Moreover, Nevada has no individual income tax rate, which could also be one of the reasons for drawing people to relocate to Nevada. Below, we list the 12 fastest-growing cities in the Nevada.
12 Fastest Growing Cities in Nevada
Our Methodology
For our list of the top 12 Fastest Growing Cities in Nevada, we have ranked the cities using state population data from the US Census Bureau which provided us a list of annual population estimates for Nevada’s cities. We then calculated the percentage change in population from 2020 (July) to 2022 for these cities and shortlisted the top 12 cities that experienced the highest population growth in these years. The cities in our list are ranked based on the ascending order of their percentage change in population between 2020 and 2022. All other statistics and figures mentioned in our list have been sourced from the US Census Bureau, except for weather information for Lovelock City, which comes from Best Places.
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12 Fastest Growing Cities in Nevada
12. Ely City
Percentage Change in Population (2020-2022): 0.81%
With a homeownership rate of 62.8% and an employment rate of 66.6%, Ely City is home to around 3,962 individuals. Compared to the 2020 population of 3,930, this is a 0.81% increase. The city has a poverty rate of 9.5%, which is 3% below the state average of 12.5%. Moreover, the median household income in the city is $77,076, which is $4,743 above the state average. The housing landscape is also healthy in Ely, with the median gross rent in the city standing at a reasonable $982, making living here accessible to many. Additionally, 16.3% of the individuals in the city have attained higher education.
11. Yerington City
Percentage Change in Population (2020-2022): 0.93%
Compared to 2020, Yerington City has seen a population growth of 0.93%, which means the population now stands at 3,135 individuals, up from 3,106 in 2020. The city has an employment rate of 39.8%, with 23.3% of residents being employed in local, state, and federal government positions. Moreover, 16.7% of the city’s population has attained higher education. The median household income of Yerington residents stands at $41,600, which is $30,733 less than the state average, and the poverty rate stands at 19.8%, which is 7.3% above the state average. Despite the high poverty rate and poor income figures, the median gross rent in the city stands at only about $736, which makes housing and living more affordable for residents.
10. Elko City
Percentage Change in Population (2020-2022): 0.95%
Elko, with a population of 20,756 people in 2022, has grown slightly faster than Yerington City, with a percentage population change of 0.95%. According to Census data, 45.8% of the population in the city comprises females, and 23.6% of the population is under 18.
Additionally, the city is home to 71.7% White individuals, 1% Black or African Americans, 4.3% American Indians or Alaskan Natives, 1.6% Asians, 0.1% Native Hawaiians and other Pacific Islanders, and 29.1% Hispanics or Latinos.
9. Fallon City
Percentage Change in Population (2020-2022): 1.22%
Fallon’s housing sector reflects a mix of ownership and rental opportunities, with a 45.2% rate of owner-occupied housing units. The median value of homes is at $230,000, while the median gross rent crosses the $1,000 figure.
The population of the city, comprising 9,445 individuals, as of 2022 data, is diverse, with 79.1% white individuals, while Asian, Black or African Americans, American Indians or Alaskan Natives, Native Hawaiians and other Pacific Islanders, and Hispanic or Latino residents contribute to the city’s vibrant mix.