As the sun sets on the bustling cityscapes, a new dawn rises in the serene suburbs, beckoning a wave of young adults seeking affordability and tranquility away from the urban hustle. The real estate landscape is shifting, with low-priced suburban areas emerging as hotspots for investment and growth. Let’s explore the allure of the suburbs and dive into the top five booming markets that offer a blend of affordability, population growth, and proximity to major cities.
The Shift to Suburban Serenity:
- Mooresville, North Carolina
- July 2024 home value: $480,430
- 2020 total population: 38,498
- 2022 total population: 50,025
- Two-year percentage change in population: 29.94%
- Median rent: $2,273
Nestled as a Charlotte suburb, Mooresville boasts a mix of high-end homes and affordable options below $250,000. Its proximity to Charlotte’s bustling economic sectors makes it an attractive location for those seeking a balance between suburban peace and urban opportunities.
- Hamtramck, Michigan
- July 2024 home value: $167,930
- 2020 total population: 21,704
- 2022 total population: 27,842
- Two-year percentage change in population: 28.28%
- Median rent: $1,050
Hamtramck offers affordability with homes priced under $200,000, just a stone’s throw away from the vibrant city of Detroit. Residents can enjoy the tranquility of suburban life while being moments away from the city’s cultural offerings.
- Buckeye, Arizona
- July 2024 home value: $407,118
- 2020 total population: 74,467
- 2022 total population: 95,042
- Two-year percentage change in population: 27.63%
- Median rent: $1,995
In Buckeye, just a scenic drive away from Phoenix, residents enjoy stylish homes under $400,000 amidst a backdrop of urban growth and employment opportunities. The allure of Phoenix’s diverse job market and recreational offerings draws individuals seeking a blend of suburban tranquility and urban vibrancy.
- Union City, Georgia
- July 2024 home value: $259,054
- 2020 total population: 21,976
- 2022 total population: 26,869
- Two-year percentage change in population: 22.27%
- Median rent: $1,829
With affordable housing options under $250,000, Union City offers a strategic location just a short commute from Atlanta. This commuter suburb appeals to those balancing work in the city while relishing the joys of suburban living.
- Canyon Lake, Texas
- July 2024 home value: $461,779
- 2020 total population: 26,338
- 2022 total population: 32,035
- Two-year percentage change in population: 21.63%
- Median rent: $1,688
Nestled in Central Texas’ Hill Country, Canyon Lake offers a retreat from the Texas heat with water sports and family-friendly activities. With a mix of homes in various price ranges, residents enjoy a blend of nature and community amidst San Antonio’s urban growth.
While millennials and older generations flock to the suburbs for affordability and family life, Gen Zers are reshaping urban landscapes with co-living arrangements and a penchant for city living. The suburbs offer stability, proximity to good schools, and access to urban centers, making them ideal investment locations for those seeking long-term gains.
The future of real estate investment lies in the tranquil streets of the suburbs, where affordability meets growth and opportunity. Whether you’re looking for a bustling community or a serene retreat, the suburbs beckon with open arms, ready to welcome a new wave of residents seeking the perfect blend of urban convenience and suburban charm.
