Originally Posted by slcskyline
This is a random observation and I'm not sure which thread it belongs in, but I personally have always felt like Salt Lake City doesn't get the credit it deserves, partially because of how small the MSA is, after you remove both Ogden and Provo as separate MSA's. And I feel that it has a negative impact on SLC's development patterns and overall perception as a market nationally. So, I decided to investigate the actual numbers and see if I was just making stuff up, so here goes...
SLC ranks 26th in CSA vs. being the 48th largest MSA. That's a significant difference! I analyzed the top 50 CSA's. Salt Lake's CSA of 2,423,912 is 110% larger than its MSA population of 1,153,340. Only Harrisburg (121%) and Greensboro (118%) have a larger % discrepancy among the top 50 CSA's. For whatever it is worth, San Francisco/San Jose is the next highest at 87%.
Perhaps, even more telling (at least to me), is that from a raw population standpoint, the only cities that add more people than Salt Lake (1,270,572) adds when analyzing CSA vs. MSA are as follows:
Los Angeles: 5,288,068 (2)
San Francisco: 4,013,363 (5)
New York City: 3,539,839 (1)
Washington DC: 3,512,842 (4)
Boston: 3,367,414 (6)
Cleveland: 1,434,253 (16)
With the exception of Cleveland, those are all top 6 overall markets (ranking in parenthesis). The only other cities that add more than 1,000,000 people are Philadelphia (1,113,620) and Detroit (1,018,640), which are the 8th and 12th largest CSA's, respectively.
Several cities, including Phoenix, Austin, San Antonio and San Diego have the exact same size CSA as MSA.
It just seems like SLC suffers more than its fair share, when solely looking at MSA figures. I know we talk a lot about the unique cultural and demographic factors in the SLC market, but could this also be a contributing factor to perception and appetite from developers and companies looking at Salt Lake? I would be curious to hear everybody's thoughts on this.
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