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Americans are flocking to these 15 cities where business is booming and salaries are rising

A woman smiles on the beach in Miami, Florida.
Twenty20

Though wages remain stagnant for many American workers, there are several cities around the U.S. where incomes are on the rise.

Personal finance website GOBankingRates analyzed 347 American cities with populations of 500,000 or under, looking for places experiencing a combination of economic prosperity, population growth and rising incomes. To rank the top "boomtowns," or cities that meet these criteria, the site looked at five-year data on population, housing, GDP and per capita income from the U.S. Census Bureau's 2017 American Community and the Bureau of Economic Analysis.

These locations are good alternatives for people who want to avoid notoriously expensive cities, such as New York or San Francisco, because they "offer incentives, such as a more affordable cost-of-living or a higher paycheck — or both," GOBankingRates reports.

Below, check out 15 U.S. growing cities where the economy is booming and salaries are on the rise.

15. Santa Cruz, California

Personal income growth, 2012 to 2017: 20.5%
Population growth, 2012 to 2017: 6.1%
GDP increase, 2012 to 2017: 23.3%

14. Durham, North Carolina

Personal income growth, 2012 to 2017: 15.8%
Population growth, 2012 to 2017: 11.9%
GDP increase, 2012 to 2017: 14.8%

13. Charlottesville, Virginia

Personal income growth, 2012 to 2017: 17.9%
Population growth, 2012 to 2017: 7.6%
GDP increase, 2012 to 2017: 22.4%

Historic Downtown Mall, Charlottesville, Virginia.
Richard Cummins | Getty Images

12. Miami, Florida

Personal income growth, 2012 to 2017: 17.7%
Population growth, 2012 to 2017: 10.2%
GDP increase, 2012 to 2017: 29.4%

11. San Luis Obispo, California

Personal income growth, 2012 to 2017: 23.9%
Population growth, 2012 to 2017: 3.7%
GDP increase, 2012 to 2017: 26.2%

10. Sioux Falls, South Dakota

Personal income growth, 2012 to 2017: 13.2%
Population growth, 2012 to 2017: 10.3%
GDP increase, 2012 to 2017: 23.5%

Sioux Falls, South Dakota.
Denis Jr. Tangney | E+ | Getty Images

9. Bismarck, North Dakota

Personal income growth, 2012 to 2017: 8.1%
Population growth, 2012 to 2017: 13.9%
GDP increase, 2012 to 2017: 23.7%

8. Raleigh, North Carolina

Personal income growth, 2012 to 2017: 15%
Population growth, 2012 to 2017: 11%
GDP increase, 2012 to 2017: 33%

7. Fayetteville, Arkansas

Personal income growth, 2012 to 2017: 23.4%
Population growth, 2012 to 2017: 10.4%
GDP increase, 2012 to 2017: 37.6%

Residents enjoy the saturday morning Farmers Market on the square in downtown Fayetteville, Arkansas.
Wesley Hitt | Getty Images

6. Reno, Nevada

Personal income growth, 2012 to 2017: 26.5%
Population growth, 2012 to 2017: 5.9%
GDP increase, 2012 to 2017: 36.7%

5. Santa Rosa, California

Personal income growth, 2012 to 2017: 28.6%
Population growth, 2012 to 2017: 4.2%
GDP increase, 2012 to 2017: 33.8%

4. Boulder, Colorado

Personal income growth, 2012 to 2017: 24.3%
Population growth, 2012 to 2017: 7.2%
GDP increase, 2012 to 2017: 22.3%

Sunrise over Boulder from second Flatiron. Boulder, Colorado.
Andrew Peacock | Getty Images

3. Sebastian, Florida

Personal income growth, 2012 to 2017: 20.9%
Population growth, 2012 to 2017: 9.3%
GDP increase, 2012 to 2017: 23.5%

2. Santa Fe, New Mexico

Personal income growth, 2012 to 2017: 17.2%
Population growth, 2012 to 2017: 21.5%
GDP increase, 2012 to 2017: 9.5%

1. Naples, Florida

Personal income growth, 2012 to 2017: 22.8%
Population growth, 2012 to 2017: 6.8%
GDP increase, 2012 to 2017: 34%

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