15 Fastest-Growing Suburbs in the US Where Homes Sell for Less Than $500,000: Report

Many US suburbs are now showing growth potential as their population grows.

A new GoBankingRates report made a list of suburbs with the most growth potential. That report studied population change in a two-year period.

The list focused on places where the population grew at least 9%. Homes in the area should also be affordable. This means home values are below $500,000.

Suburbs in the South appeared six times in the top 15. Arizona and Florida cities also appeared on the list.

Top 2 Suburbs

Mooresville, NC, landed first. Home values in Mooresville were $480,430. The population increased by 29.94%.

Many NASCAR and IndyCar racing teams are found in Mooresville. The NASCAR Technical Institute can also be found in the area.

Hamtramck in Michigan followed second. The area had home values of $167,930. The population also changed by 28.28%. Hamtramck is home to diverse cultures.

READ ALSO: US Home Sales Fell To Lowest Level Ever Recorded Despite Declining Mortgage Rates

Full List

1. Mooresville, North Carolina

Home Value: $480,430

2-Year Change in Total Population: 29.94%

2. Hamtramck, Michigan

Home Value: $167,930

2-Year Change in Total Population: 28.28%

3. Buckeye, Arizona

Home Value: $407,118

2-Year Change in Total Population: 27.63%

4. Union City, Georgia

Home Value: $259,054

2-Year Change in Total Population: 22.27%

5. Canyon Lake, Texas

Home Value: $461,779

2-Year Change in Total Population: 21.63%

6. Olive Branch, Mississippi

Home Value: $329,937

2-Year Change in Total Population: 20.04%

7. Maricopa, Arizona

Home Value: $364,112

2-Year Change in Total Population: 18.36%

8. Clermont, Florida

Home Value: $445,666

2-Year Change in Total Population: 17.71%

9. Leesburg, Florida

Home Value: $299,317

2-Year Change in Total Population: 17.65%

10. Goodyear, Arizona

Home Value: $483,061

2-Year Change in Total Population: 16.79%

11. Lewisville, Texas

Home Value: $410,904

2-Year Change in Total Population: 16.05%

12. Homestead, Florida

Home Value: $471,483

2-Year Change in Total Population: 16.04%

13. Elkridge, Maryland
Home Value: $487,954

2-Year Change in Total Population: 15.95%

14. Westfield, Indiana

Home Value: $461,255

2-Year Change in Total Population: 15.87%

15. Clayton, North Carolina

Home Value: $372,523

2-Year Change in Total Population: 15.78%

RELATED ARTICLE: US Buyers Must Earn $80,000 To Afford a Typical Starter Home; Median Earners Priced Out of 25 Housing Markets