North Texas is growing exponentially, with many of Dallas’ suburbs becoming more and more popular. A recent study revealed that several North Texas cities are among the fastest growing in the U.S., with home values still under $500,000.
According to a study by GoBankingRates, Lewisville, Waxahachie, Midlothian and Wylie are among the top 50. GOBankingRates analyzed key data, including population changes from 2020 to 2022, and identified cities with a population increase of 9% or more during that period. Additionally, these suburbs had to have a home value under $500,000 as of July 2024.
Lewisville, ranking 11th, saw significant growth between 2020 and 2022, with its population increasing from 107,740 to 125,028, marking a 16.05% rise in just two years. As of July 2024, the average home value in the area was approximately $410,904. In comparison, the average home in Frisco, Texas is approximately $687,690.
Coming in at 20th place, Waxahachie also experienced notable growth from 2020 to 2022, with its population increasing by 13.79%, rising from 36,735 to 41,801. As of July 2024, the average home value in the city was $363,709.
Midlothian saw its population grow by 12.45% between 2020 and 2022, increasing from 31,533 to 35,460 residents — ranking 27th on the list. As of July 2024, the average home value in the city is $454,929.
Wylie experienced an 11.34% population increase from 2020 to 2022, with the number of residents growing from 51,251 to 57,063. As of July 2024, the average home value in the city stands at $441,105, ranking 34 out of the 50 cities.
A total of eight Texas suburbs made it onto GoBankingRates' list of the fastest-growing suburbs with home values under $500,000. Two San Antonio suburbs, Canyon Lake and New Braunfels, ranked 5th and 44th nationwide, respectively. Baytown, located 26 miles east of Houston, claimed the 36th spot, while Hutto, a suburb of Austin, ranked 42nd.
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