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

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. 

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

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). 

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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