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These 3 Austin neighbors are the fastest-growing affordable suburbs in the U.S., report finds
When thinking about Austin-area suburbs like Leander, "affordable" may not be the first word that comes to mind anymore. But according to moving experts moveBuddha, Georgetown, Kyle, and Leander all ranked in the top three in a new report on the 20 fastest-growing affordable suburbs in the country.
Georgetown took the lead as the No. 1 fastest-growing suburb in the U.S., with moveBuddha's research showing the city has had a 26.7 percent growth rate since 2020. An earlier U.S. Census report also confirmed Georgetown's skyrocketing population growth.
The study says Georgetown's average housing price is $453,376 as of September 2023 – which is higher than Williamson County's median home price of $426,752 last month. Families are surely taking note of Georgetown's dedication to its park system and kid-friendly festivals when determining their futures in the city.
Coming in at No. 2 is Kyle, with the report stating the city had a 23.7 percent growth rate since 2020. Kyle's average housing price of $336,615 (the lowest out of the three Austin suburbs) coupled with its proximity to Austin makes it "the most happenin' suburb around," the study said.
Leander landed in the No. 3 spot with a 22.2 percent growth rate. The city's average home prices are slightly lower than Georgetown's, with homes costing about $450,798.
"[Leander's] phenomenal growth led to projects like Leander Springs (including a beach and lagoon) and the Northline (a planned downtown commercial district)," the report said. "Luckily, housing prices haven’t rocketed skyward at quite the same rate... With prices lingering below the 50th percentile, new residents get more bang for their buck than in other suburbs."
Home prices aside, the report took a not-so-subtle dig at the city using Georgetown's triumph as No. 1.
"Maybe Leander just got too famous for its own good," the report said. "But whichever suburb puts north Austin on the map first, Georgetown wins our final showdown for growth and affordability."
Overall, nine out of the top 20 suburbs in the report reside in Texas. Two North Texas cities – Little Elm north of Dallas and Burleson south of Fort Worth – earned No. 4 and No. 9, respectively. New Braunfels ranked No. 6, and Conroe (north of Houston) rounded out the top 10.
The top 10 fastest growing affordable American suburbs are:
- No. 1 – Georgetown, Texas
- No. 2 – Kyle, Texas
- No. 3 – Leander, Texas
- No. 4 – Little Elm, Texas
- No. 5 – Westfield, Indiana
- No. 6 – New Braunfels, Texas
- No. 7 – Maricopa, Arizona
- No. 8 – Buckeye, Arizona
- No. 9 – Burleson, Texas
- No. 10 – Conroe, Texas
The report defined a suburb as any "non-principal" city in a metropolitan area with a population of fewer than 100,000. Over 800 suburbs were examined based on 2020 and 2022 U.S. Census Bureau's population estimates, and narrowed down into the final 20. It also defined the "affordability" category by sorting cities with average home prices below $500,000 using the Zillow Home Value Index for single family homes. The cities were ultimately ranked based on their growth rates.
The full report can be found on movebuddha.com.