These are California’s fastest-growing suburbs with home values under $500K
LOS ANGELES - A new study by GoBankingRates has revealed America’s fastest-growing suburbs with home values under $500,000. While another recent study found the median price of a starter home in Los Angeles is around $615,000 and $970,000 in San Francisco, some options in California offer home prices for less of a hefty price tag.
Suburbs are often a family-friendly option that have proximity to big cities without having to live in the heart of the hustle and bustle, along with the high cost of living that comes with it.
As an expensive state, not a single California suburb ranked in the top 10, but a few did make the top 50. For aspiring homeowners who feel leaving California is the best way of making that dream come true, the GoBankingRates study, which was based on median home prices in July, showed there are some options in the Golden State.
See the California options below.
Victorville (No. 47)
TOPSHOT - Homes on newer housing developments are located near powerlines in the high desert city of Victorville, California. (Photo by ROBYN BECK/AFP via Getty Images)
- July 2024 home value: $437,837
- 2020 total population: 122,958
- 2022 total population: 134,417
- 2-year percentage change in total population: 9.32%
Desert Hot Springs, California (No. 40)
(Getty Images)
- July 2024 home value: $388, 705
- 2020 total population: 29,280
- 2022 total population: 32,386
- 2-year percentage change in total population: 10.61%
San Jacinto, California (No. 38)
- July 2024 home value: $480,619
- 2020 total population: 48,786
- 2022 total population: 54,077
- 2-year percentage change in total population: 10.85%
Adelanto, California (No. 37)
Aerial view of homes in desert of Adelanto, Southern California. (Photo by: Visions of America/Joe Sohm/Universal Images Group via Getty Images)
- July 2024 home value: $397,484
- 2020 total population: 34,238
- 2022 total population: 37, 960
- 2-year percentage change in total population: 10.87%
All the California options are located in the Inland Empire, which encompasses San Bernardino and Riverside counties. With more affordable housing options, it's no surprise the area has seen a population boom.
RELATED COVERAGE: This California region is experiencing a population boom
More on the study
Overall, the states with the fastest-growing suburbs were Arizona, California, Florida, Maryland, Michigan and Texas. For those who left California, the Grand Canyon State is a popular choice. In addition to more affordable living, it’s nearby and offers plenty of sunshine.
SUGGESTED COVERAGE:
- People leaving California moving here in record numbers, data shows
- California continues to lose residents to Arizona, Nevada
- Nearly half of $1M-plus starter homes in California
- This is how much you need to make to afford a starter home in Southern California
- This map shows the hourly wage needed to afford rent in California
With that, three of the top 10 fastest-growing suburbs with home values under $500,000 are in Arizona. See the top 10 list below.
- Mooresville, North Carolina (Charlotte suburb)
- Hamtramck, Michigan (Detroit suburb)
- Buckeye, Arizona (Phoenix suburb)
- Union City, Georgia (Atlanta suburb)
- Canyon Lake, Texas (San Antonio suburb)
- Olive Branch, Mississippi (Memphis, Tennessee suburb)
- Maricopa, Arizona (Phoenix suburb)
- Clermont, Florida (Orlando suburb)
- Leesburg, Florida (Orlando suburb)
- Goodyear, Arizona (Phoenix suburb)