Exploring America’s Fastest-Growing Suburbs and Their Financial Requirements
Living in the suburbs often provides a more affordable option compared to city living. Families can enjoy a comfortable lifestyle while reducing costs. GOBankingRates recently studied the 50 fastest-growing suburbs in the United States, highlighting the income levels needed in each metro area. Of these, 19 suburbs are located on the East Coast.
Some of the observable population growth may stem from the U.S. Census Bureau redefining certain Census Designated Places. All boundary data used is from 2023. For more details about the methodology, refer to the end of this article.
Key Suburbs and Financial Insights
Fort Mill, South Carolina
- Population Increase: 77.6%
- Income Needed for Comfortable Living: $121,572
- Household Median Income: $127,537
- Total Annual Cost of Living: $60,786
- Average Home Value: $527,953
Groveland, Florida
- Population Increase: 65.4%
- Income Needed for Comfortable Living: $105,272
- Household Median Income: $92,258
- Total Annual Cost of Living: $52,636
- Average Home Value: $380,076
Waxhaw, North Carolina
- Population Increase: 49.9%
- Income Needed for Comfortable Living: $134,366
- Household Median Income: $128,115
- Total Annual Cost of Living: $67,183
- Average Home Value: $604,211
Apollo Beach, Florida
- Population Increase: 45.7%
- Income Needed for Comfortable Living: $116,973
- Household Median Income: $113,130
- Total Annual Cost of Living: $58,487
- Average Home Value: $463,947
Apex, North Carolina
- Population Increase: 40.4%
- Income Needed for Comfortable Living: $132,730
- Household Median Income: $138,442
- Total Annual Cost of Living: $66,365
- Average Home Value: $612,709
Mooresville, North Carolina
- Population Increase: 38.4%
- Income Needed for Comfortable Living: $116,267
- Household Median Income: $88,592
- Total Annual Cost of Living: $58,133
- Average Home Value: $473,259
Clayton, North Carolina
- Population Increase: 38%
- Income Needed for Comfortable Living: $97,195
- Household Median Income: $73,348
- Total Annual Cost of Living: $48,598
- Average Home Value: $364,940
Sun City Center, Florida
- Population Increase: 35.4%
- Income Needed for Comfortable Living: $97,515
- Household Median Income: $71,012
- Total Annual Cost of Living: $48,757
- Average Home Value: $330,225
Fastest Growing U.S. Cities: Economic Insights and Trends
Clermont, Florida
- Population increase %: 34.2%
- Income needed to live comfortably: $111,951
- Household median income: $79,789
- Total cost of living annually: $55,975
- Average home value: $431,786
Doral, Florida
- Population increase %: 31.3%
- Income needed to live comfortably: $152,479
- Household median income: $88,474
- Total cost of living annually: $76,239
- Average home value: $693,544
That’s Interesting: Estimated Median Income for the Upper-Middle Class in 2025
Wesley Chapel, Florida
- Population increase %: 30.7%
- Income needed to live comfortably: $109,419
- Household median income: $107,004
- Total cost of living annually: $54,709
- Average home value: $420,097
Holly Springs, North Carolina
- Population increase %: 30.3%
- Income needed to live comfortably: $128,187
- Household median income: $132,435
- Total cost of living annually: $64,093
- Average home value: $578,214
Union City, Georgia
- Population increase %: 30.3%
- Income needed to live comfortably: $86,409
- Household median income: $47,635
- Total cost of living annually: $43,205
- Average home value: $248,507
Explore: How Much Money Is Needed To Be Considered Middle Class in Every State?
Ruskin, Florida
- Population increase %: 28.1%
- Income needed to live comfortably: $97,402
- Household median income: $76,402
- Total cost of living annually: $48,701
- Average home value: $331,571
Leesburg, Florida
- Population increase %: 28%
- Income needed to live comfortably: $87,863
- Household median income: $47,506
- Total cost of living annually: $43,932
- Average home value: $291,225
Discover: The Cheapest Place To Buy a Home in Every State
Elkridge, Maryland
- Population increase %: 27.6%
- Income needed to live comfortably: $119,076
- Household median income: $135,412
- Total cost of living annually: $59,538
- Average home value: $494,247
Canton, Georgia
- Population increase %: 27.5%
- Income needed to live comfortably: $123,056
- Household median income: $81,642
- Total cost of living annually: $61,528
- Average home value: $506,325
Wake Forest, North Carolina
- Population increase %: 27.5%
- Income needed to live comfortably: $120,895
- Household median income: $120,777
- Total cost of living annually: $60,448
- Average home value: $519,208
# Rapid Growth in Saint Cloud, Florida: Key Housing and Income Facts
Overview of Saint Cloud’s Economic Growth
- Population Increase %: 26.2%
- Income Needed to Live Comfortably: $108,487
- Household Median Income: $76,196
- Total Cost of Living Annually: $54,243
- Average Home Value: $405,506
Note: Images included are representational and may not depict specific locations mentioned.
Methodology Breakdown
This analysis from GOBankingRates identifies suburbs experiencing significant population growth between 2018 and 2023. The study focused on metro areas with over 1 million residents and suburbs that have populations ranging from 20,000 to 100,000. Data was gathered from the U.S. Census American Community Survey to determine population changes and median household income levels.
To assess living conditions, comprehensive cost of living data was obtained from Sperling’s BestPlaces, which includes metrics for groceries, healthcare, housing, utilities, and transportation. The average home values were derived from the Zillow Home Value Index and were accurate as of February 2025. Mortgages were analyzed using Federal Reserve Economic Data. All information was collected and confirmed as of March 24, 2025.
Additional Insights from GOBankingRates
The original article can be found on GOBankingRates.com: Want To Live in One of These Exploding East Coast Suburbs? Here’s the Salary You Need
The views expressed in this article reflect those of the author and may not necessarily align with Nasdaq, Inc.
