Top Growing Midwest Suburbs Highlighted for 2023
GOBankingRates recently released a study identifying the fastest-growing suburbs in America along with their cost of living. Among the top 50 cities, only four suburbs from the Midwest made the list, with Texas towns being particularly prominent.
Key Findings on Midwest Suburbs
Two suburbs of Indianapolis showed remarkable growth, exceeding 30% from 2018 to 2023. Here’s a closer look at these expanding Midwestern communities.
Westfield, Indiana
- Suburb of: Indianapolis
- Population Increase %: 35.3%
- Income Needed to Live Comfortably: $112,482
- Household Median Income: $119,598
- Total Cost of Living Annually: $56,241
- Average Home Value: $464,949
Avon, Indiana
- Suburb of: Indianapolis
- Population Increase %: 32.1%
- Income Needed to Live Comfortably: $97,404
- Household Median Income: $97,589
- Total Cost of Living Annually: $48,702
- Average Home Value: $352,278
Otsego, Minnesota
- Suburb of: Minneapolis
- Population Increase %: 31.9%
- Income Needed to Live Comfortably: $105,007
- Household Median Income: $127,219
- Total Cost of Living Annually: $52,503
- Average Home Value: $410,617
Hamtramck, Michigan
- Suburb of: Detroit
- Population Increase %: 26.8%
- Income Needed to Live Comfortably: $76,618
- Household Median Income: $40,103
- Total Cost of Living Annually: $38,309
- Average Home Value: $161,629
Editor’s note: Photos are for representational purposes only and may not exactly reflect the listed locations.
Study Methodology
This study focused on suburbs with 2023 populations between 20,000 and 100,000, specifically within metro areas of at least 1 million people. GOBankingRates gathered data from the U.S. Census American Community Survey to analyze population changes and household incomes. The cost of living figures were sourced from Sperling’s BestPlaces, incorporating various expenditure indices. Home values were taken from Zillow, and mortgage calculations were based on Federal Reserve Economic Data. All information was last updated on March 24, 2025.
