Markets

Insider Trading

Hedge Funds

Retirement

Opinion

15 Fastest Growing Cities in California

In this article, we will take a look at the 15 fastest growing cities in California. If you want to skip our discussion on the economy of the state, you can go directly to the 5 Fastest Growing Cities in California.

California, the third largest state in the US by size, is known for its diverse population. The state ranks second only to Hawaii in the United States Census Bureau’s Diversity Index by State for 2020. Furthermore, California holds the title of the most populous state in the US and the eleventh most densely populated state. California is also home to Los Angeles, the second largest city in the US, as well as San Diego and San Jose, which are among the top 12 largest US cities by population.

California is a bustling hub for business, with around 53 Fortune 500 companies. It holds the third position, following New York and Texas, in terms of the highest number of Fortune 500 companies. The state recorded a nominal GDP of $3.9 trillion in 2023. California’s economy is supported by over 1.7 million private-sector businesses as of 2022. These businesses contribute significantly, generating 90% of the state’s economic output and creating around 15.6 million jobs.

Silicon Valley, located in the San Francisco Bay Area, is known as the country’s technology hub. In 2023, the 20 largest tech companies in the Bay Area saw a reduction of approximately 7% in the region’s workforce, amounting to roughly 18,800 workers. However, despite this decrease, by the end of the year, there was a net increase of about 37,000 individuals employed by technology firms in the Bay Area compared to pre-pandemic levels.

Another measure of the region’s well-being is its population dynamics. Silicon Valley experienced a decline in net migration starting in 2015. However, between mid-2022 and mid-2023, the area recorded a net increase of around 1,800 individuals, with more people coming in than leaving. This shift was due to a 52% decrease in the net number of individuals moving away, coupled with a roughly 37% increase in the number of foreign immigrants.

Some of the prominent companies headquartered in California include Apple Inc. (NASDAQ:AAPL), Intel Corporation (NASDAQ:INTC), and Trimble (NASDAQ:TRMB).

Apple Inc. (NASDAQ:AAPL), based in Cupertino, is known for designing, developing, and retailing consumer electronics. The company is currently restructuring its supply chain to minimize emissions and its environmental impact. Apple Inc.’s (NASDAQ:AAPL) global operations are now powered by over 18 gigawatts of clean electricity. This reflects more than three times the amount recorded in 2020. Furthermore, Apple Inc. (NASDAQ:AAPL) aims to restore 100 percent of the freshwater utilized in corporate operations, particularly in areas facing high water stress, by 2030. To achieve this goal, Apple Inc. (NASDAQ:AAPL) has established partnerships to provide around 7 billion gallons of water benefits over the next two decades.

Trimble (NASDAQ:TRMB), formerly known as Trimble Navigation, specializes in producing cutting-edge products used in unmanned defense systems, mapping, machine controls, asset tracking, and mining. One of the company’s flagship offerings is Trimble Connect, which is a cloud-based collaboration platform. It is widely used by people in the design and construction sectors. Trimble Connect offers clients’ data security and facilitates real-time updates across the entire process chain. Headquartered in Sunnyvale, California, Trimble (NASDAQ:TRMB) had approximately 12,700 employees as of 2023.

Intel Corporation (NASDAQ:INTC) was established in 1968. Based in Santa Clara, Silicon Valley, the company is known as one of the world’s largest manufacturers of central processing units (CPUs) and semiconductors. Intel Corporation (NASDAQ:INTC) recently introduced its newest AI chip, the Gaudi 3 AI accelerator. The company has positioned the chip as superior to Nvidia’s H100. As of 2023, Intel Corporation (NASDAQ:INTC) employed a workforce of 124,800 individuals.

Here’s what Ariel Investments said about Intel Corporation (NASDAQ:INTC) in its Q4 2023 investor letter:

“New holding, Intel Corporation (NASDAQ:INTC), one of the world’s largest semiconductor chip manufacturers by revenue, outperformed in the quarter. Intel is benefitting from the near-term rebound in semiconductor demand driven by the cyclical recovery of personal computers (PCs) and central processing units (CPUs). Shares also traded higher following the company’s Artificial Intelligence (AI) Everywhere launch event. Intel introduced its capabilities across cloud, edge and client hardware and showcased it can benefit from an enterprise upgrade cycle as both cloud-based and traditional enterprises look to incorporate AI features into core technology platforms. In our view, the market is also overlooking the progress Intel has made towards regaining its manufacturing technology advantage and believe the foundry business will continue to experience strong momentum as it grows its customer base and revenue.”

Aerial view of a residential neighborhood in a metropolitan area in California.

Our Methodology

To shortlist the fastest growing cities in California, we used data from the US Census Bureau. These cities have been ranked in ascending order based on the percentage growth in population from 2010 to 2020.

You can also check out the 10 Fastest Growing Cities in Kentucky here.

By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.

15 Fastest Growing Cities in California

15. Fresno

Change in Population: 12%

2010 to 2020 Population Increase: 58,099

Fresno, situated in Fresno County within the San Joaquin Valley, is approximately 190 miles south of San Francisco. The city serves as the headquarters of the Sierra National Forest and also as a gateway to the resort areas of the Sierra Nevada. Fresno is also considered to be one of the best cities in US with great weather for retirees. The cost of living in the city is 21% lower than the average for California. From 2020 to 2021, the median household income in Fresno increased from $53,368 to $57,211, reflecting a 7.2% growth.

14. Oakland

Change in Population: 13.90%

2010 to 2020 Population Increase: 53,737

Oakland is located in Alameda County. The city recorded a population of 430,553 in 2022.  The city’s proximity to popular regions like San Jose and San Francisco has pushed up housing prices in the area significantly. The cost of living in the city is 1% more expensive than the state average.

13. Sacramento

Change in Population: 14.20%

2010 to 2020 Population Increase: 65,432

Sacramento is the capital of California and the seat of Sacramento County. The city is mainly flat, but the land around it on the eastern side rises towards the foothills of the Sierra Nevada. Between 2010 and 2020, the city recorded a population increase of 65,432.

12. Lancaster

Change in Population: 15.90%

2010 to 2020 Population Increase: 23,807

Lancaster is a city in Los Angeles County. It lies in Antelope Valley near the western edge of the Mojave Desert. Known for its aircraft, aerospace, and electronics industries, Lancaster is close to Edwards Air Force Base, where many space shuttle landings have occurred. The median property value in Lancaster in 2021 was $303,400, with a corresponding homeownership rate of 55%.

11. Palmdale

Change in Population: 15.90%

2010 to 2020 Population Increase: 23,266

Palmdale is situated in Los Angeles County at the southern tip of Antelope Valley. It was once a small farming community. However, its trajectory changed in the mid-1900s when the city underwent development due to aircraft assembly and electronic research. By the 1990s, Antelope Valley experienced economic expansion, with Palmdale emerging as one of the fastest growing cities.  Presently, the city’s cost of living is 31% higher than the national average.

10. Chula Vista

Change in Population: 20%

2010 to 2020 Population Increase: 45,873

Chula Vista experienced a 45,873 increase in residents between 2010 to 2020. The city is on the eastern shore of San Diego Bay in San Diego County, southern California. The city was originally a territory of the Kumeyaay Indians. The median home price in Chula Vista stands around $900,000.

9. Bakersfield

Change in Population: 21.60%

2010 to 2020 Population Increase: 71,587

Bakersfield, situated in the San Joaquin Valley, is Kern County’s seat. The cost of living in Bakersfield is about 20% below the state average but approximately 10% higher than the national average. The region is known for its agriculture, including grain, alfalfa, and livestock, along with vineyards producing a significant portion of California’s wine. Bakersfield also hosts a variety of industries, such as steel, textiles, bedding materials, and electronics.

8. Elk Grove

Change in Population: 24.70%

2010 to 2020 Population Increase: 34,924

Elk Grove, situated in Sacramento County, California, is a part of the Sacramento metropolitan area. As per the 2020 Census, the city’s population stood at 176,124. The overall cost of living in Elk Grove is 28% higher than the national average. Serving as an agricultural hub, the city also hosts a significant research and development sector. It is home to various agricultural operations, including large-scale farms and research centers.

7. Victorville

Change in Population: 24.70%

2010 to 2020 Population Increase: 26,722

Victorville lies in San Bernardino County, about 100 miles away from Los Angeles. The city’s climate makes it an ideal place to live and work all year round. Positioned at an elevation of 2,875 feet above sea level, Victorville experiences a dry, high desert climate, providing a diverse range of seasons. The overall monthly cost of living in Victorville is 17% lower than the national average. Victorville is among the top 10 fastest growing cities in California.

6. Roseville

Change in Population: 29.80%

2010 to 2020 Population Increase: 33,953

Roseville, located in Placer County in the Sacramento Valley, is a major center for railways and freight transportation. It also has light manufacturing and technology companies. The cost of living in Roseville is 16% cheaper than the average city in California. The city hosts popular events in spring, like strawberry and kite festivals.

Click to continue reading and see the 5 Fastest Growing Cities in California.

Suggested articles:

Disclosure: None. 15 Fastest Growing Cities in California is originally published on Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

 

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!


No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a year later!

A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…