Fastest Growing Cities with The Most Affordable Housing
October 11, 2018
Housing prices are increasing across the nation, but that doesn’t mean you can’t afford a new home. There are plenty of metropolitan areas that have anticipated the population and job boom with new housing permits. Managing housing supply is the first step in ensuring that housing prices continue to stay affordable. So, as you look for your next place – keep these cities in mind, as you may be able to get more for your money.
- Raleigh, North Carolina
- Population Growth: 12.3%*
- Employment Growth: 18%*
- New People Per Permit Issued: 1.78
- Home Value Appreciation: 37.8%
Raleigh may seem like a suburb when you look at the data, with a high homeownership rate (67%) and a high car commute rate (98%), but this city is far from feeling like the ‘burbs. It’s city living at its best with median city home prices around $265,000 where you can walk to everything. Central neighborhood is also an affordable option that allows you to still have the ability to walk to restaurants, shopping, breweries, museums, etc. with just a little bit more of a neighborhood feel.
- Charlotte, North Carolina
- Population Growth: 10.1%*
- Employment Growth: 18.6%*
- New People Per Permit Issued: 1.95
- Home Value Appreciation: 48.3%
If you’re looking for a job opportunity in the banking, financial or construction sectors, Charlotte may be a look place to look. The Uptown neighborhood of Fourth Ward may be a place to shop for homes, as this up and coming area is fun yet affordable, with home prices starting at $150,000. The neighborhood makes the city walkable, but also has easy parking options.
- Austin, Texas
- Population Growth: 15.3%*
- Employment Growth: 20.5%*
- New People Per Permit Issued: 1.99
- Home Value Appreciation: 57.2%
With job growth soaring, this trendy city is keeping up with demand by continuing to build out on the land surrounding the city. This is good for you if you’re looking for a vibrant city with lots of affordable housing options.
If the Carolinas or Texas isn’t your vibe, we hope you’ll find the perfect city for your next move. As always, we hope we are the next call you make after you find the perfect place. We would love to help make the new chapter of your life a reality.
*All numbers for 2012-2017