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By the Numbers: Metro Growth & Declining Fertility
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By the Numbers: Metro Growth & Declining Fertility

This week, we have 2023 metro population data for the US + TFRs from Europe, Italy, and South Korea.

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Demography Unplugged
Apr 02, 2024
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By the Numbers: Metro Growth & Declining Fertility
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#1. US: Southern Metros Grow

The Census has released 2023 population numbers for metro areas. (Census Bureau)

  • 10 Largest Metro Areas in Order of Pop. Size: 2023 Population Change

    • DOWN: New York (19.5M): -65.5K, -0.3% YoY

    • DOWN: LA (12.8M): -71.0K, -0.6%

    • DOWN: Chicago (9.3M): -16.6K, -0.2%

    • UP: Dallas (8.1M): +152.6K, +1.9%

    • UP: Houston (7.5M): +139.8K, +1.9%

    • UP: Atlanta (6.3M): +68.6K, +1.1%

    • UP: Washington, D.C. (6.3M): +39.1K, +0.6%

    • UP: Philadelphia (6.2M): +3.4K, +0.1%

    • UP: Miami (6.2M): +43.4K, +0.7%

    • UP: Phoenix (5.1M): +49.2K, +1.0%

  • Our Take: In 2023, population growth in metro areas largely mimicked regional patterns. The largest urban areas in the South recorded population increases. And the largest urban areas in the Northeast, Midwest, and West recorded population decreases. The Census hasn’t released data breaking down metro areas by suburbs and primary cities. Nevertheless, we predict that growth in suburbs will remain higher than in primary cities, but also that primary cities overall may record positive growth for the first time since 2021. For more information on regional population trends, watch our recent “2024 U.S. Demography Review.”

Source: Census Bureau; Hedgeye

#2. South Korea: TFR (Once Again) Hits World Record Low

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