Which US Cities Are Growing Fast Yet Remain Affordable? Texas Leads the Pack

When hunting for a place to call home, finding fastest growing US cities that won’t drain your wallet seems like asking for miracles. Yet a fresh GOBankingRates study reveals this combination is entirely possible—especially if you’re eyeing the right states.

Texas Dominates the Affordability-Growth Sweet Spot

The Lone Star State absolutely leads the charge, claiming a commanding presence with 12 cities landing in the top 50 fastest growing US cities nationwide. These communities aren’t just expanding; they’re doing so while keeping housing and living expenses manageable compared to national averages.

Frisco stands atop the list, boasting a stunning 26.9% population surge over five years while maintaining reasonable living costs. Renters here spend roughly $46,718 annually, while homeowners allocate $72,262. The median household income sits at $146,158, providing solid financial cushion for residents.

Beyond Frisco, Texas cities claiming spots include:

• McKinney (#3): 16.6% five-year growth, $120,273 median income
• Allen (#5): 8.5% growth with $129,130 household median
• League City (#7): 13.9% expansion, $44,264 for renters annually
• Lewisville (#8): 22.5% growth over five years
• Round Rock (#10): Consistent 3.4% five-year growth trajectory
• Plus six additional Texas cities in the upper 50

Where Else Are People Moving? Arizona, Indiana, and Beyond

Arizona contributes notable entries with Goodyear ranking #2, displaying an impressive 32.8% five-year population jump. Indiana brings Fishers (#4) and Carmel (#6) into the conversation, each showing double-digit growth rates with median household incomes exceeding $128,000.

Other states represented among fastest growing US cities include Kansas, Tennessee, Colorado, Florida, and Nevada—each offering distinct advantages for different buyer profiles.

The Real Numbers Behind Population Booms

What defines these fastest growing US cities? GOBankingRates applied strict criteria: minimum population of 100,000, one and five-year growth exceeding national rates, and housing costs below national averages.

Cost-of-living breakdown for top performers:

• Annual renter expenses range from roughly $34,968 (Fargo) to $56,465 (Surprise, Arizona)
• Homeowner expenses span from $38,032 (Oklahoma City) to $72,262 (Frisco)
• Median home values fluctuate between $200,498 (Oklahoma City) and $678,435 (Frisco)

Budget-Conscious Choices Among Fastest Growing US Cities

If you’re monitoring your expenses closely, several fastest growing US cities offer exceptional value:

Edinburg, Texas showcases the lowest living costs for both renters ($35,277) and homeowners ($37,536), though median household income runs lower at $57,789.

Fargo, North Dakota attracts budget shoppers with annual renter costs of just $34,968 and homeowner expenses of $44,032, paired with a $66,029 median household income.

Oklahoma City delivers homeowner costs of $38,032 annually—among the absolute lowest nationally—with average home values around $200,498.

Investment Perspective: What Makes These Cities Tick

The consistent thread running through fastest growing US cities involves economic vitality. Whether driven by tech hubs, manufacturing centers, or lifestyle appeal, these communities attract young families and professionals seeking opportunity without sacrificing affordability.

Population data sourced from U.S. Census surveys spanning 2018-2023 reveals that cities maintaining growth rates above national averages while keeping housing expenses manageable create magnetic environments for migration. This combination typically signals strong job markets, reasonable property values, and community investment.

The Bottom Line

For anyone considering relocation or real estate investment, fastest growing US cities—particularly those concentrated in Texas, Arizona, and Indiana—merit serious evaluation. The data demonstrates that explosive population growth and reasonable living costs aren’t mutually exclusive, though finding the right fit requires understanding your priorities: whether maximizing savings, securing affordable housing, or landing solid median incomes matters most to your situation.