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

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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.

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).

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

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