Silver Spring has ranked first in the nation for its one-year population growth, according to a report released by the personal finance website SmartAsset earlier this month.
The recognition is the latest of several this year that highlight Silver Spring’s vibrancy, generosity, and strong sense of community, including honors from Reader’s Digest, Fortune Magazine, GoFundMe, and WalletHub.
SmartAsset’s report, which uses U.S. Census Bureau estimates, shows that Silver Spring’s population increased by 12.86 percent in 2023, reaching 84,996 residents—the highest one-year growth rate among 610 cities surveyed. In contrast, the population grew by only 3.89 percent over the past five years.
Glen Burnie in Anne Arundel County also made the list, ranked third with a one-year population growth of 11.82 percent.
“Population shifts in a community can bring about a variety of interwoven economic and social impacts,” study author Jaclyn DeJohn said in the report. “The magnitude of the population change can affect demand for businesses and services, which in turn may impact costs – or even the availability of such amenities. Similarly, the relative age of the population can determine the strength or weakness of the local job market, as well as have an impact on local culture, economic trajectory, tax base and more.”
According to the report, Buckeye, Arizona, experienced the largest five-year population increase, growing from 74,378 in 2018 to 108,900 in 2023, with a working-age population rise of 17,526 (52.76%).
Meanwhile, cities like New Braunfels, Texas (21.96%), Rochester Hills, Michigan (16.52%), and Elgin, Illinois (16.08%) saw significant growth in the 20 to 54 age group.
Conversely, Spring Valley, Nevada, had the most significant one-year decline at -10.14%, losing over 22,000 people from 2022 to 2023. It was followed by Town ‘n’ Country, Florida (-9.77%) and Kendall, Florida (-9.32%), all showing negative five-year trends.
The complete report is available for viewing online at smartasset.com.
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