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Here are America's 'fastest-growing suburbs' with home values under $500K

By FOX TV Digital Team
Published  September 6, 2024 10:57am CDT
Real Estate
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The Brief

    • There are a number of fast-growing suburbs where you can still buy a home for less than $500,000.
    • A number of cities on the list are suburbs of the hottest real estate markets in the country.

If you’re in the market for a more affordable home, there are a number of fast-growing suburbs in the U.S. where you can still find homes valued below $500,000. 

GOBankingRates looked at suburbs with a 9% or higher population growth from 2020 to 2022 – then narrowed that list down to suburbs with home values below $500,000. 

RELATED: Map: Here are the states with the most 'stale' home inventory

According to the report, states with the most fast-growing suburbs are Arizona, California, Florida, Maryland, Michigan and Texas.

FILE - A for sale sign is displayed outside of a home for sale in California. (Photo by PATRICK T. FALLON/AFP via Getty Images)

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A number of cities on the list are suburbs of the hottest real estate markets in the country, including Charlotte, North Carolina and Nashville, Tennessee. Other cities that made the list are suburbs of the top 10 cities for buying a home, like Dearborn, Michigan (a suburb of Detroit) and Crown Point, Indiana (a suburb of Chicago). 

RELATED: Things they don’t tell you about buying a home

50 fastest-growing suburbs with home values under $500K

  1. Mooresville, North Carolina: Charlotte suburb with July 2024 home value of $480,430
  2. Hamtramck, Michigan: Detroit suburb with July 2024 home value of $167,930
  3. Buckeye, Arizona: Phoenix suburb with July 2024 home value of $407,118
  4. Union City, Georgia: Atlanta suburb with July 2024 home value of $259,054
  5. Canyon Lake, Texas: San Antonio suburb with July 2024 home value of $461,779
  6. Olive Branch, Mississippi: Memphis, Tennessee, suburb with July 2024 home value of  $329,937
  7. Maricopa, Arizona: Phoenix suburb with July 2024 home value of $364,112
  8. Clermont, Florida: Orlando suburb with July 2024 home value of $445,666
  9. Leesburg, Florida: Orlando suburb with July 2024 home value of  $299,317
  10. Goodyear, Arizona: Phoenix suburb with July 2024 home value of $483,061
  11. Lewisville, Texas: Dallas-Fort Worth suburb with July 2024 home value of $410,904
  12. Homestead, Florida: Miami suburb with July 2024 home value of $471,483
  13. Elkridge, Maryland: Baltimore suburb with July 2024 home value of $487,954
  14. Westfield, Indiana: Indianapolis suburb with July 2024 home value of $461,255
  15. Clayton, North Carolina: Raleigh suburb with July 2024 home value of $372,523
  16. Laurel, Maryland: Baltimore and Washington, DC, suburb with July 2024 home value of $484,783
  17. Dearborn, Michigan: Detroit suburb with July 2024 home value of $232,290
  18. McDonough, Georgia: Atlanta suburb with July 2024 home value of $354,810
  19. Lebanon, Tennessee: Nashville suburb with July 2024 home value of $439,223
  20. Waxahachie, Texas: Dallas-Fort Worth suburb with July 2024 home value of $363,709
  21. Wesley Chapel, Florida: Tampa suburb with July 2024 home value of  $436,295
  22. Trussville, Alabama: Birmingham suburb with July 2024 home value of $387,835
  23. Jenks, Oklahoma: Tulsa suburb with July 2024 home value of $340,703
  24. St. Cloud, Florida: Orlando suburb with July 2024 home value of $417,466
  25. Ruskin, Florida: Tampa suburb with July 2024 home value of $348,342
  26. Apollo Beach, Florida: Tampa suburb with July 2024 home value of $482,251
  27. Midlothian, Texas: Dallas-Fort Worth suburb with July 2024 home value of $454,929
  28. Dearborn Heights, Michigan: Detroit suburb with July 2024 home value of  $202,285
  29. Sun City Center, Florida: Tampa suburb with July 2024 home value of $345,841
  30. Concord, North Carolina: Charlotte suburb with July 2024 home value of $383,893
  31. Gallatin, Tennessee: Nashville suburb with July 2024 home value of $432,521
  32. Sahuarita, Arizona: Tucson suburb with July 2024 home value of $366,557
  33. Marana, Arizona: Tucson suburb with July 2024 home value of $441,998
  34. Wylie, Texas: Dallas suburb with July 2024 home value of $441,105
  35. Crown Point, Indiana: Chicago suburb with July 2024 home value of $348,547
  36. Baytown, Texas: Houston suburb with July 2024 home value of $245,910
  37. Adelanto, California: San Bernardino suburb with July 2024 home value of $397,484
  38. San Jacinto, California: Riverside suburb with July 2024 home value of $480,619
  39. Brownsburg, Indiana: Indianapolis suburb with July 2024 home value of $354,613
  40. Desert Hot Springs, California: Riverside suburb with July 2024 home value of $388,705
  41. Wentzville, Missouri: St. Louis suburb with July 2024 home value of $379,853
  42. Hutto, Texas: Austin-Round Rock suburb with July 2024 home value of $361,031
  43. Lawrence, Massachusetts: Boston suburb with July 2024 home value of $499,929
  44. New Braunfels, Texas: San Antonio suburb with July 2024 home value of $361,132
  45. Brockton, Massachusetts: Boston suburb with July 2024 home value of $497,572
  46. Noblesville, Indiana: Indianapolis suburb with July 2024 home value of $377,306
  47. Victorville, California: San Bernardino suburb with July 2024 home value of $437,837
  48. Pasadena, Maryland: Baltimore suburb with July 2024 home value of $442,528
  49. Frederick, Maryland: Baltimore and Washington, DC, suburb with a July 2024 home value of $473,668.
  50. Lincoln Park, Michigan: Detroit suburb with a July 2024 home value of $147,251

The Source 

  • This story includes information from GOBankingRates, WalletHub, Clever and the U.S. Census Bureau.