STAGNANT POPULATION GROWTH
The estimated population of El Paso, the nation's 22nd largest city, is on the decline. We currently have the slowest growth rate since 1930 to 1940, which will have far-reaching implications for years to come. Surrounding smaller cities are growing. Horizon's city population grew by 3%. Socorro grew by 6%. Homeowners as well as businesses are fleeing outside the city limits.
All this is compounded by low wages. Wages in El Paso are among the lowest in the nation and post pandemic job growth has been slow.