Can You Afford a Home in the 15 Fastest-Growing Cities in the US?
In 2023, most of the fastest-growing cities in the country were located in the South, according to a May 16 Census Bureau release.
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“The population growth across the South in 2023 was driven by significant numeric and percentage gains among its cities,” Crystal Delbé, a statistician with the Census Bureau’s Population Division, said in the release. “Thirteen of the 15 fastest-growing cities were in the South, with eight in Texas alone.”
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Texas Attracting Many New Residents
Danielle Hale, chief economist with Realtor.com, said Texas has been very attractive lately due to a confluence of factors — “a strong jobs market, relative housing affordability and robust housing construction.”
And Tyler Drew, president of Anubis Properties, said that one of these Lone Star State cities — Lathrop City — used to be “somewhat of a joke.”
“Their claim to fame was a chicken wire factory when I was growing up,” Drew told Realtor.com. “Then a few years ago, Tesla moved in a battery production facility on the outskirts of town, and suddenly it became a mini Silicon Valley. There’s now a whole new subdivision with STEM elementary and high schools. The planned communities around the battery factories and other tech businesses have their own private lakes and recreational facilities.”
So, can you afford to live in one of these fastest-growing cities? Note: All median home prices sourced from Realtor.com.
No. 1: Celina, Texas
Percentage increase in population between July 1, 2022, and July 1, 2023: 26.6%
Median home price: $680,000, up 4.6% year-over-year.
No. 2: Fulshear, Texas
Percentage increase in population between July 1, 2022, and July 1, 2023: 25.6%
Median home price: $519,000, up 12.9% year-over-year.
No. 3: Princeton, Texas
Percentage increase in population between July 1, 2022, and July 1, 2023: 22.3%.
Median home price: $350,000, up 3% year-over-year.
No. 4: Anna, Texas
Percentage increase in population between July 1, 2022, and July 1, 2023: 16.9%
Median home price: $425, 000, up 4.3% year-over-year.
No. 5: Lathrop City, California
Percentage increase in population between July 1, 2022, and July 1, 2023: 13.6%
Median home price: $741,700, up 7.2% year-over-year.
No. 6: Centerton, Arkansas
Percentage increase in population between July 1, 2022, and July 1, 2023: 11.2%
Median home price: $447,800, up 21.1% year-over-year.
No. 7: Haines City, Florida
Percentage increase in population between July 1, 2022, and July 1, 2023: 10.8%
Median home price: $338,000, down 3.1% year-over-year.
No. 8: Georgetown, Texas
Percentage increase in population between July 1, 2022, and July 1, 2023: 10.6%
Median home price: $499,500, flat year-over-year.
No. 9: Prosper Town, Texas
Percentage increase in population between July 1, 2022, and July 1, 2023: 10.5%
Median home price: $919,000, up 8.1% year-over-year.
No. 10: Forney City, Texas
Percentage increase in population between July 1, 2022, and July 1, 2023: 10.4%
Median home price: $378,000, down 4.5% year-over-year.
No. 11: Kyle City, Texas
Percentage increase in population between July 1, 2022, and July 1, 2023: 9%
Median home price: $375,000, down 3.1% year-over-year.
No. 12: Lebanon City, Tennessee
Percentage increase in population between July 1, 2022, and July 1, 2023: 8.9%
Median home price: $484,900, down 3% year-over-year.
No. 13: Fort Mill Town, South Carolina
Percentage increase in population between July 1, 2022, and July 1, 2023: 8.8%
Median home price: $519,900, up 5% year-over-year.
No. 14: Leesburg City, Florida
Percentage increase in population between July 1, 2022, and July 1, 2023: 8.7%
Median home price: $329.200, down 3.1% year-over-year.
No. 15: Athens City, Ohio
Percentage increase in population between July 1, 2022, and July 1, 2023: 8.6%
Median home price: $315,000, up 32.9% year-over-year.
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