Business Week magazine ranks Katy as America's second fastest growing region. The magazine conducted the study based primarily on new home growth between 2000 and 2008.
The survey showed that Katy had a 168 percent growth rate during that time. Katy's average household income also grew by 17 percent to over $75,000.
The top ranked boomtown is Summerlin South, just outside Las Vegas, which saw a housing growth of 618 percent.
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