The fastest growing suburb with home values under $500,000 is Mooresville, NC

As Americans continue to leave major cities in search of more affordable living, many are choosing to settle within commuting distance of large urban areas that offer strong job prospects. It’s no surprise, then, that one of the country’s fastest-growing suburbs is near Charlotte, North Carolina, a city that has seen significant population growth since the pandemic.

Mooresville, just 27 miles north of Charlotte, was recently named the fastest-growing suburb in the U.S. with a median home price under $500,000 by GoBankingRates.com.

The website examined two-year population growth data for mid-sized cities with up to 200,000 residents and home prices from July 2024. The findings show that Mooresville experienced a 30% increase in population, rising from 38,500 in 2020 to 50,000 in 2022. The median home price in Mooresville was $480,430, about $50,000 higher than the national median in July.

However, Mooresville is far from a quiet suburb. Known as “Race City USA,” it hosts numerous NASCAR teams, racing tracks, and auto manufacturers. Motorsports enthusiasts from all over the country visit to explore attractions like the North Carolina Auto Racing Walk of Fame and the Memory Lane Motorsports and Historical Automotive Museum. Visitors also enjoy touring racing facilities and experiencing the city's various tracks.

Another major draw is Lake Norman, the state’s largest man-made lake, a popular destination for relaxation. Outdoor recreation thrives here, with easy access to the Blue Ridge Mountains (Asheville is only a two-hour drive away) and plenty of hiking and biking trails nearby.

Second on GoBankingRates.com’s list is Hamtramck, Michigan, a suburb of Detroit that has seen a 28% population increase in two years. It also boasts the lowest median home value on the list at $157,930.

Third is Buckeye, Arizona, located west of Phoenix, where the population grew by 27% since 2020, now totaling 95,000 residents.

tastytrade logo+
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.