A recent report from GoBankingRates highlighted cities with growth potential that were still affordable for American families, and several Texas suburbs made it to the top 50 list.
The study focused on cities with population growth of at least 9% or greater between 2020 and 2022 and an average home price under $500,000 as of July 2024.
Yet, for many, these boastful claims of “affordability” is still a steep ask. Still, the results are in, and several Texas suburbs made the list.
New Braunfels stands out with an average home value of $361,132 and a population increase of 9.89%. It was ranked No. 44 on the list of top 50.
Hutto, a suburb of Austin, is also on the rise. It ranked at No. 42 on the list, with home values averaging around $361,031 and a population boost of 10.16%.
The No. 36 city, Baytown, known for its strategic location along the Houston Ship Channel, is also experiencing considerable growth. The city’s average home value is $245,910, and its population grew by 10.99%.
In North Texas, Wylie has similarly attracted attention, with home values averaging $441,105 and substantial population growth of 11.34%. It ranked No. 34 on the list.
Midlothian, located about 25 miles southwest of Dallas, was ranked No. 27. The city experienced a 12.45% population increase and has an average home value of $454,929.
Waxahachie was ranked No. 20, with a 13.79% population growth and home vales averaging $363,709.
Lewisville ranked at No. 11, logging a whopping 16.05% population growth. The average home value in the city is $410,904.
Canyon Lake, a small community in the Texas Hill Country, was the top-ranked city in Texas, coming in at No. 5 on the list. Its population increased by 21.63%, from 26,338 in 2020 to 32,305 in 2022 — the average home price there is $461,779.
The remaining top five cities were Union City, Georgia, at No. 4; Buckeye, Arizona, at No. 3; Hamtramck, Michigan, at No. 2; and Mooresville, North Carolina, at No. 1.
In addition, many North Texas cities have ranked favorably in various independent studies for affordable rental housing.
As previously reported by The Dallas Express, Plano recently secured its position as the top city for renters in Texas, according to a WalletHub study that analyzed 182 cities across the country. Plano ranked No. 11 nationwide based on availability, affordability, and quality of life.
Additionally, a recent RentCafe report placed McKinney at 4th place in the rankings of the best cities for renters nationwide, based on 20 metrics that included apartment quality, traffic, air quality, natural amenities, and economic strength.
Renters and homebuyers have recently flocked to the Lone Star State.USAFacts reported that Texas’ population grew every year from 2010 to 2022. The highest annual growth rate during this period was 1.9% from 2014 to 2015. On average, the state’s population increased by 1.5% annually over these twelve years.