From Texas to the Midwest and beyond, a new wave of fast-growing cities is combining double-digit population growth with housing costs far below national averages.
The other night, I was reviewing city growth statistics, and I came across something surprising: Frisco, Texas, has seen a 27.0 percent increase in population over five years. Yet, renters are paying close to $46,700 per year, which is a bargain compared to other boomtowns. Goodyear, Arizona? It has increased by 32.8% in the last five years, has a median household income of more than 101K, and it does not cost a fortune to live in. One just had to ask: Where can you find other cities that compete in explosive growth without sky-high industry prices attached to them?
Consider Princeton, Texas, which was the quickest-growing city in the U.S. last year, with a 30 percent expansion in one year. In Des Moines, Iowa, the metro has seen a 6 percent increase since 2020, with homes still selling for under $300,000 — a figure significantly below the national average of $441,000. Just envision it: residing in a place that is filled with new employment opportunities, new eateries, and new neighbors moving in truckloads, but without the high prices that big cities are known to charge…