Texas is officially home to the most cities that are fast-growing and affordable enough for your money. The Lone Star State recently swept a new GOBankingRates study ranking the most affordable U.S. places that have large population growth, with 12 cities to rank out out of the top 50.
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For this study, GOBankingRates used qualifying cities with populations of 100,000, a 1-year and 5-year population growth larger than the national growth rate and average rental or mortgage costs lower than the national average. The U.S. Census American Community Survey from 2018, 2022 and 2023 helped source each city’s total population, total households and household median income, all of which were used to calculate the 1-year and 5-year population changes.
Key Findings
- Frisco, Texas, is the nation’s most affordable, fastest-growing city. Within a five-year span, the population has increased by 26.9%. The annual cost of living is reasonable for both renters and homeowners, with renters paying $46,718 and homeowners $72,262 annually.
- Frisco, Goodyear, McKinney, Fishers, Allen, Carmel, League City, Lewisville, Olathe and Round Rock ranked as the 10 fastest-growing and most affordable cities. More than half of these cities are based in Texas. The remaining states represented include Arizona, Indiana and Kansas.
- Texas dominated the top 50 with 12 cities. These include Frisco (#1), McKinney (#3), Allen (#5), League City (#7), Lewisville (#8), Round Rock (#10), Pearland (#11), Denton (#19), Fort Worth (#26), Austin (#35), Edinburg (#43) and Killeen (#49).
Ranked in order from largest to smallest population change and most to least affordable are the 50 fastest-growing, most affordable cities in 2025.
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1. Frisco, Texas
- 5-year population growth: 26.9%
- 1-year population growth: 4%
- Median household income: $146,158
- Total cost of living for renter annually: $46,718
- Total cost of living for homeowner annually: $72,262
- Average home value: $678,435
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2. Goodyear, Arizona
- 5-year population growth: 32.8%
- 1-year population growth: 5.5%
- Median household income: $101,814
- Total cost of living for renter annually: $49,011
- Total cost of living for homeowner annually: $58,494
- Average home value: $478,276
3. McKinney, Texas
- 5-year population growth: 16.6%
- 1-year population growth: 3.1%
- Median household income: $120,273
- Total cost of living for renter annually: $45,023
- Total cost of living for homeowner annually: $58,907
- Average home value: $512,667
4. Fishers, Indiana
- 5-year population growth: 13.8%
- 1-year population growth: 1.9%
- Median household income: $128,141
- Total cost of living for renter annually: $46,989
- Total cost of living for homeowner annually: $54,414
- Average home value: $438,966
5. Allen, Texas
- 5-year population growth: 8.5%
- 1-year population growth: 2.1%
- Median household income: $129,130
- Total cost of living for renter annually: $44,456
- Total cost of living for homeowner annually: $58,678
- Average home value: $514,490
6. Carmel, Indiana
- 5-year population growth: 11.5%
- 1-year population growth: 1.1%
- Median household income: $134,602
- Total cost of living for renter annually: $46,507
- Total cost of living for homeowner annually: $62,126
- Average home value: $553,141
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7. League City, Texas
- 5-year population growth: 13.9%
- 1-year population growth: 1.3%
- Median household income: $119,870
- Total cost of living for renter annually: $44,264
- Total cost of living for homeowner annually: $47,459
- Average home value: $369,058
8. Lewisville, Texas
- 5-year population growth: 22.5%
- 1-year population growth: 2.6%
- Median household income: $85,002
- Total cost of living for renter annually: $43,995
- Total cost of living for homeowner annually: $53,007
- Average home value: $404,946
9. Olathe, Kansas
- 5-year population growth: 5.7%
- 1-year population growth: 1.1%
- Median household income: $112,232
- Total cost of living for renter annually: $45,070
- Total cost of living for homeowner annually: $51,825
- Average home value: $401,785
10. Round Rock, Texas
- 5-year population growth: 3.4%
- 1-year population growth: 3.2%
- Median household income: $97,187
- Total cost of living for renter annually: $42,390
- Total cost of living for homeowner annually: $52,364
- Average home value: $433,767
11. Pearland, Texas
- 5-year population growth: 6.9%
- 1-year population growth: 1.2%
- Median household income: $112,470
- Total cost of living for renter annually: $51,032
- Total cost of living for homeowner annually: $54,241
- Average home value: $376,350
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12. Nampa, Idaho
- 5-year population growth: 16%
- 1-year population growth: 3.6%
- Median household income: $72,122
- Total cost of living for renter annually: $40,684
- Total cost of living for homeowner annually: $50,656
- Average home value: $404,082
13. Murfreesboro, Tennessee
- 5-year population growth: 20.3%
- 1-year population growth: 2.7%
- Median household income: $76,241
- Total cost of living for renter annually: $45,275
- Total cost of living for homeowner annually: $52,728
- Average home value: $410,857
14. Peoria, Arizona
- 5-year population growth: 18.1%
- 1-year population growth: 1.6%
- Median household income: $93,403
- Total cost of living for renter annually: $50,490
- Total cost of living for homeowner annually: $61,963
- Average home value: $495,587
15. Rio Rancho, New Mexico
- 5-year population growth: 12.2%
- 1-year population growth: 2.1%
- Median household income: $85,755
- Total cost of living for renter annually: $45,823
- Total cost of living for homeowner annually: $47,207
- Average home value: $348,895
16. Surprise, Arizona
- 5-year population growth: 12.5%
- 1-year population growth: 2.7%
- Median household income: $93,371
- Total cost of living for renter annually: $56,465
- Total cost of living for homeowner annually: $62,596
- Average home value: $432,225
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17. Concord, North Carolina
- 5-year population growth: 18.7%
- 1-year population growth: 1.1%
- Median household income: $84,752
- Total cost of living for renter annually: $45,267
- Total cost of living for homeowner annually: $49,274
- Average home value: $376,098
18. Chandler, Arizona
- 5-year population growth: 11.9%
- 1-year population growth: 0.9%
- Median household income: $103,691
- Total cost of living for renter annually: $47,908
- Total cost of living for homeowner annually: $61,788
- Average home value: $536,681
19. Denton, Texas
- 5-year population growth: 10%
- 1-year population growth: 3.3%
- Median household income: $73,719
- Total cost of living for renter annually: $41,775
- Total cost of living for homeowner annually: $47,235
- Average home value: $362,723
20. Sioux Falls, South Dakota
- 5-year population growth: 13.5%
- 1-year population growth: 2.2%
- Median household income: $74,714
- Total cost of living for renter annually: $36,600
- Total cost of living for homeowner annually: $45,244
- Average home value: $324,217
21. Palm Bay, Florida
- 5-year population growth: 13.6%
- 1-year population growth: 3.1%
- Median household income: $67,521
- Total cost of living for renter annually: $46,481
- Total cost of living for homeowner annually: $45,092
- Average home value: $308,797
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22. Henderson, Nevada
- 5-year population growth: 11.4%
- 1-year population growth: 2%
- Median household income: $88,654
- Total cost of living for renter annually: $47,942
- Total cost of living for homeowner annually: $61,049
- Average home value: $507,401
23. North Las Vegas, Nevada
- 5-year population growth: 14.3%
- 1-year population growth: 2.6%
- Median household income: $76,772
- Total cost of living for renter annually: $49,408
- Total cost of living for homeowner annually: $54,869
- Average home value: $411,605
24. Broken Arrow, Oklahoma
- 5-year population growth: 7.8%
- 1-year population growth: 1.5%
- Total cost of living for renter annually: $44,169
- Total cost of living for homeowner annually: $43,043
- Average home value: $275,440
25. Clarksville, Tennessee
- 5-year population growth: 14.1%
- 1-year population growth: 2.4%
- Median household income: $66,786
- Total cost of living for renter annually: $40,016
- Total cost of living for homeowner annually: $44,383
- Average home value: $305,125
26. Fort Worth, Texas
- 5-year population growth: 10%
- 1-year population growth: 1.8%
- Median household income: $76,602
- Total cost of living for renter annually: $42,209
- Total cost of living for homeowner annually: $42,844
- Average home value: $300,115
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27. Madison, Wisconsin
- 5-year population growth: 9.3%
- 1-year population growth: 2.6%
- Median household income: $76,983
- Total cost of living for renter annually: $43,320
- Total cost of living for homeowner annually: $53,633
- Average home value: $431,553
28. Huntsville, Alabama
- 5-year population growth: 13%
- 1-year population growth: 1.8%
- Median household income: $70,778
- Total cost of living for renter annually: $40,409
- Total cost of living for homeowner annually: $42,970
- Average home value: $272,010
29. Thornton, Colorado
- 5-year population growth: 6.2%
- 1-year population growth: 0.8%
- Median household income: $100,985
- Total cost of living for renter annually: $48,639
- Total cost of living for homeowner annually: $62,450
- Average home value: $540,519
30. Rochester, Minnesota
- 5-year population growth: 6.8%
- 1-year population growth: 0.7%
- Median household income: $87,767
- Total cost of living for renter annually: $41,894
- Total cost of living for homeowner annually: $45,420
- Average home value: $330,550
31. Durham, North Carolina
- 5-year population growth: 9.1%
- 1-year population growth: 1.5%
- Median household income: $79,234
- Total cost of living for renter annually: $43,122
- Total cost of living for homeowner annually: $51,307
- Average home value: $403,006
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32. Chesapeake, Virginia
- 5-year population growth: 5.6%
- 1-year population growth: 0.7%
- Median household income: $94,189
- Total cost of living for renter annually: $47,760
- Total cost of living for homeowner annually: $53,807
- Average home value: $414,816
33. Sparks, Nevada
- 5-year population growth: 10.7%
- 1-year population growth: 1%
- Median household income: $86,979
- Total cost of living for renter annually: $47,287
- Total cost of living for homeowner annually: $59,907
- Average home value: $517,816
34. Spokane Valley, Washington
- 5-year population growth: 9.8%
- 1-year population growth: 1.6%
- Median household income: $70,722
- Total cost of living for renter annually: $40,917
- Total cost of living for homeowner annually: $50,280
- Average home value: $403,655
35. Austin, Texas
- 5-year population growth: 3.4%
- 1-year population growth: 1%
- Median household income: $91,461
- Total cost of living for renter annually: $44,044
- Total cost of living for homeowner annually: $61,838
- Average home value: $542,887
36. Reno, Nevada
- 5-year population growth: 10.9%
- 1-year population growth: 1.4%
- Median household income: $78,448
- Total cost of living for renter annually: $46,609
- Total cost of living for homeowner annually: $63,108
- Average home value: $567,613
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37. Lakeland, Florida
- 5-year population growth: 10.5%
- 1-year population growth: 2.3%
- Median household income: $60,947
- Total cost of living for renter annually: $45,135
- Total cost of living for homeowner annually: $45,353
- Average home value: $316,979
38. Bakersfield, California
- 5-year population growth: 8.7%
- 1-year population growth: 1%
- Median household income: $77,397
- Total cost of living for renter annually: $46,344
- Total cost of living for homeowner annually: $50,573
- Average home value: $394,348
39. Oklahoma City
- 5-year population growth: 8.1%
- 1-year population growth: 1.1%
- Median household income: $66,702
- Total cost of living for renter annually: $39,567
- Total cost of living for homeowner annually: $38,032
- Average home value: $200,498
40. Visalia, California
- 5-year population growth: 8.8%
- 1-year population growth: 0.8%
- Median household income: $79,952
- Total cost of living for renter annually: $49,530
- Total cost of living for homeowner annually: $53,219
- Average home value: $388,842
41. Fargo, North Dakota
- 5-year population growth: 7.4%
- 1-year population growth: 1.4%
- Median household income: $66,029
- Total cost of living for renter annually: $34,968
- Total cost of living for homeowner annually: $44,032
- Average home value: $311,759
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42. Charlotte, North Carolina
- 5-year population growth: 5.3%
- 1-year population growth: 1.3%
- Median household income: $78,438
- Total cost of living for renter annually: $45,278
- Total cost of living for homeowner annually: $51,963
- Average home value: $403,178
43. Edinburg, Texas
- 5-year population growth: 9.1%
- 1-year population growth: 1.6%
- Median household income: $57,789
- Total cost of living for renter annually: $35,277
- Total cost of living for homeowner annually: $37,536
- Average home value: $210,010
44. Billings, Montana
- 5-year population growth: 8.1%
- 1-year population growth: 1.1%
- Median household income: $71,855
- Total cost of living for renter annually: $39,048
- Total cost of living for homeowner annually: $49,495
- Average home value: $389,820
45. Orlando, Florida
- 5-year population growth: 13.1%
- 1-year population growth: 1.3%
- Median household income: $69,268
- Total cost of living for renter annually: $48,930
- Total cost of living for homeowner annually: $53,784
- Average home value: $406,930
46. Colorado Springs, Colorado
- 5-year population growth: 5.6%
- 1-year population growth: 0.7%
- Median household income: $83,198
- Total cost of living for renter annually: $44,411
- Total cost of living for homeowner annually: $54,908
- Average home value: $460,117
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47. Raleigh, North Carolina
- 5-year population growth: 3%
- 1-year population growth: 1.1%
- Median household income: $82,424
- Total cost of living for renter annually: $43,532
- Total cost of living for homeowner annually: $54,289
- Average home value: $443,947
48. Aurora, Colorado
- 5-year population growth: 7.3%
- 1-year population growth: 0.7%
- Median household income: $84,320
- Total cost of living for renter annually: $46,855
- Total cost of living for homeowner annually: $60,213
- Average home value: $502,568
49. Killeen, Texas
- 5-year population growth: 9.1%
- 1-year population growth: 1.6%
- Median household income: $58,339
- Total cost of living for renter annually: $38,975
- Total cost of living for homeowner annually: $38,618
- Average home value: $217,761
50. Jacksonville, Florida
- 5-year population growth: 9.4%
- 1-year population growth: 1.2%
- Median household income: $66,981
- Total cost of living for renter annually: $44,087
- Total cost of living for homeowner annually: $45,414
- Average home value: $298,418
Methodology: For this study, GOBankingRates analyzed U.S. cities to find the most affordable places with large population growth. Using the Census American Community surveys from 2018, 2022 and 2023, the total population, total households and household median income were all sourced and used to calculate the [1] 1-year and [2] 5-year population changes. To qualify for this study, the city had to have a total population of at least 100,000, a 1-year and 5-year population growth larger than the national growth rate from the same time period and an average rental cost or average mortgage cost lower than the national average. Relevant data was sourced from Zillow Observed Rental Index and Zillow Home Value Index, Federal Reserve Economic Data, Sperling’s BestPlaces and the Bureau of Labor Statistics Consumer Expenditure Survey. Using the median household income and the total cost of living for homeowners and total cost of living for renters was used to calculate the [3] leftover savings for homeowners and [4] leftover savings for renters. [1] The 1-year population change, [2] 5-year population change, [3] leftover savings for homeowners, and [4] leftover savings for renters were all scored and sorted. All data was collected on and is up to date as of April 15, 2025.
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This article originally appeared on GOBankingRates.com: 50 Most Affordable, Fastest-Growing Cities in 2025
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