Santa Clarita has been ranked the 5th top “boomtown” in California from its growing population and business growth, officials said Thursday.

A boomtown is characterized by prosperity and robust development, and these towns are often desirable places to put down roots and take out a mortgage, according to SmartAsset, a personal finance website.

Santa Clarita was ranked 42nd in all cities in America, according to the study.

In order to find the top boomtowns in America, SmartAsset looked at the most recently available data for 500 of the largest cities across the following seven metrics: population change, unemployment rate, change in unemployment rate, GDP growth rate, business growth, housing growth and change in household income, measured between 2014 and 2018, according to SmartAsset officials.

After analyzing this information, the study determined that Santa Clarita ranked 5th, according to officials.

Over the past few years, a number of housing projects in Santa Clarita have either been completed or approved, with the largest development being the Newhall Ranch Project.

That housing project is expected to include 21,500 units of mixed housing and commercial units along a six-mile stretch of Highway 126 west of the 5 Freeway in Valencia.

“We have a reputation for being a family-friendly community and we want to make it remain that way,” said Santa Clarita Mayor Marsha McLean in a previous story.

According to the most recent estimates, Santa Clarita’s population is projected to reach 450,000 people within 15 years — an increase of 150,000 from today, according to officials.

To see SmartAsset’s full report, click here.

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