Arizona population growth is booming, making it among the top five fastest-growing states in the U.S., according to new U.S. Census Bureau data.

Between July 1, 2017 and July 1, 2018 approximately 122,770 people relocated to the Grand Canyon State, placing Arizona at No. 4 on the list of fastest-growing states based on numeric growth. Arizona’s population currently stands at 7.1 million.

Arizona population growth

Arizona also ranked No. 4 percentage-wise, with a growth rate of 1.7 percent from 2017-2018, according to the new Census data, released last week.

On both lists, Arizona climbed year over year. At the end of 2017, Arizona ranked sixth for percentage growth and seventh for the number of new residents.

This year’s higher rankings are being attributed to Arizona’s strong and growing economy. Dozens of companies hiring new workers attracted people from across the country, and Phoenix’s ongoing apartment and housing booms were boosted by the population growth.

The metro Phoenix area continues to attract investors looking to add rental properties to their portfolios, as demand for housing continues to rise.

Arizona population growth