9 Of the Fastest Growing Cities are From Texas
If you’re looking for some of the fastest communities in the nation, look no further than the great state of Texas. The Lone Star State is home to many great places to live including 9 of the top 15 fastest growing cities, according to a report by Consumer Affairs. This means that renting and homeownership are inevitably growing. Take a closer look at some of the different factors contributing to this trend while exploring the Texan cities experiencing the highest growth rates.
Texan Suburbs Continue to Grow
You may think that only metropolitan cities such as Dallas, Austin, or Houston are seeing population growth, but it is the suburbs experiencing the most growth. Most of the cities on this list are near a larger metropolitan area; however, with many of these cities already dense in population, the outer suburbs are seeing a healthy boost in size.
Strong Economic Prospects Are Inspiring Growth in Texas
Many companies are viewing Texas as a business-friendly state. These conditions are inspiring growth in small and large businesses alike even through turbulent times. With job opportunities comes population growth. Even as other states such as New York and Louisiana continue to lose their population, Texas is a population growth leader as people seek different opportunities. The lack of a state income tax is also an attractive motivation for workers looking to cut their tax bills.
Again, even as cities see economic growth, it is the suburban areas that are seeing the largest increases in population. These are the top nine cities experiencing growth in Texas:
1. Frisco, Texas
Current Population*: 209,980
Population Increase Between 2010-2020*: 79.5%
Median Home Value**: $395,900
Median Rent**: $1,505/month
Avg. Homeowners Insurance Policy***: $3,467.00/year
Avg. Renters Insurance Policy***: $268.15/year
You’ll find Frisco, Texas, around 30 miles north of Dallas. This North Texas suburb is not only the top growing city in the state, but it is also the top spot in the entire country. Considering the city is filled with innovative companies, a strong educational foundation, and plenty of activities for many different lifestyles, it’s no wonder its population is growing at such an astounding rate. A wide range of industries attracts both large and small businesses.
Residents can enjoy easy access to recreational opportunities and small-town living while maintaining modern city amenities within arm’s length. The city’s mild winters mean that residents can enjoy cooler winter months with a much lower risk of extreme cold than some northern states endure. Even as the population continues to grow, residents of Frisco, TX, enjoy unemployment rates that are lower than the national average. Construction continues to move along as well, providing housing options for homeowners and renters alike.
2. McKinney, Texas
Current Population*: 208,272
Population Increase Between 2010-2020*: 58.8%
Median Home Value**: $309,200
Median Rent**: $1,394/month
Avg. Homeowners Insurance Policy***: $3,590.16/year
Avg. Renters Insurance Policy***: $269.92/year
Just over 30 miles northeast of Dallas is the city of McKinney, Texas. Small-town charm is met with a bustling population filled with culture. Art, recreation, and innovative business are at the heart of what this wonderful city has to offer. There is a nature preserve, parks, golf courses, and more! This helps explain how the city continues to showcase its historic past while attracting tech startups and innovative businesses for a bright future. Low unemployment and the access to quality living a stone’s throw away from big-city amenities continue to attract homeowners and renters alike. The McKinney National Airport (TKI) is a strategically placed airport that keeps residents connected for both business and personal needs.
3. Sugar Land, Texas
Current Population*: 117,875
Population Increase Between 2010-2020*: 49.6%
Median Home Value**: $323,300
Median Rent**: $1,775/month
Avg. Homeowners Insurance Policy***: $4,410.72/year
Avg. Renters Insurance Policy***: $338.73/year
If you are looking for beautiful homes on large lots in a desirable school district, look no further than Sugar Land, Texas. Around 22 miles southwest of downtown Houston, residents in Sugar Land, TX, live in one of the most desirable suburbs in the metro area. The Fort Bend ISD continues to hold strong educational values while serving the area. Whether you are renting or owning your home, the city provides plenty of neighborhoods throughout. There is ample shopping, entertainment centers, and parks for activities.
This affluent city has a slightly higher unemployment rate than the national average as it continues to recover from the ongoing effects of COVID-19; however, the Houston metro area offers some of the best options for employment in the country. Some prominent industries include hospitality, energy, healthcare, financial services, and manufacturing.
4. Round Rock, Texas
Current Population*: 137,575
Population Increase Between 2010-2020*: 37.7%
Median Home Value**: $244,300
Median Rent**: $1,316/month
Avg. Homeowners Insurance Policy***: $1,567.67/year
Avg. Renters Insurance Policy***: $289.51/year
Round Rock, TX, is a suburb 20 miles north of Austin boasting some of the best recreational facilities in the state. Recreation and youth sports are highlighted throughout this suburb and there are plenty of shopping and dining options. The local government continues to focus on economic development used to provide tax breaks to businesses and lower property taxes for homeowners.
You can find large companies such as Dell located in the city, but thanks to the steps put into place for keeping and growing businesses, smaller startups continue to breathe life into the area. A noted technological hub, Austin, Texas, provides even more business opportunities while Round Rock residents enjoy a more suburban-centric lifestyle and access to larger metro areas. Both renters and homeowners alike enjoy an unemployment rate that remains on par with the national average. There are plenty of job opportunities and real estate options available.
5. Pearland, Texas
Current Population*: 123,562
Population Increase Between 2010-2020*: 35.4%
Median Home Value**: $244,800
Median Rent**: $1,413/month
Avg. Homeowners Insurance Policy***: $2,831.50/year
Avg. Renters Insurance Policy***: $345.92/year
Approximately 21 miles south of downtown Houston is the suburban city of Pearland, Texas, one of the most sought-after suburbs in East Texas. The city continues to experience an impressive increase in its size as new construction continues to provide stellar homes, desirable rental units, and a growing list of businesses. Shadow Creek Ranch, a highly desirable neighborhood, boasts more than 90,000 residents alone.
Even facing an elevated unemployment rate when compared to national averages, Pearland, TX, continues to provide plenty of opportunities for its residents. The medical field and energy sector dominate the job market featuring major companies such as Shell, Chevron, and MD Anderson Cancer Center, with smaller companies finding plenty of growth due to a strong economic effort from local governments.
6. Edinburg, Texas
Current Population*: 102,374
Population Increase Between 2010-2020*: 32.8%
Median Home Value**: $121,900
Median Rent**: $794/month
Avg. Homeowners Insurance Policy***: $1,923.24/year
Avg. Renters Insurance Policy***: $337.73/year
Combining a commitment to investing in business development and a cost of living that is 21% lower than the national average, Edinburg, Texas, continues to attract new residents. Entertainment and education have a continued focus for the city and there are plenty of recreational opportunities for residents to enjoy. Thanks to the city’s proximity to Mexico, both companies and citizens will enjoy easier access to Foreign Trade Zones, ports, and an international market. Renters and homeowners alike can find employment through a variety of industries including healthcare, hospitality, agriculture, and education.
Out of all of the cities on our list, you’ll notice that both the price of a home or a rental is cheaper on average. This is an attractive feature for prospective residents. Growing outdoor activities are another attraction for residents who are looking to reconnect with nature. Edinburg, Texas, allows you to enjoy some of the finest living in the Rio Grande Valley, all with modern amenities and small-town charm.
7. Midland, Texas
Current Population*: 147,069
Population Increase Between 2010-2020*: 32.3%
Median Home Value**: $219,500
Median Rent**: $1,262/month
Avg. Homeowners Insurance Policy***: $2,499.80/year
Avg. Renters Insurance Policy***: $283.62/year
Ever since the discovery of oil in Midland, Texas, the city has had strong ties to the oil and gas industry. It should be no surprise that those roots remain to this day; however, the city is committing a concerted effort to develop businesses of all sorts, expand housing options, and revive many of its existing neighborhoods. The city’s Tall City Tomorrow initiative is proof. Unlike many of the suburban cities on this list, Midland sort of holds its own. Found in West Texas, it neighbors Odessa, TX, but continues to provide its residents with affordable housing, ample parks, and various shops, and other small businesses.
8. Denton, Texas
Current Population*: 147,515
Population Increase Between 2010-2020*: 30.1%
Median Home Value**: $218,800
Median Rent**: $1,082/month
Avg. Homeowners Insurance Policy***: $2,421.47/year
Avg. Renters Insurance Policy***: $276.65/year
The third and final city from North Texas on this list is the city of Denton, Texas. If you drive around 38 miles north of Fort Worth, TX, you’ll find a city rooted in education. Denton, TX, is home to many museums as well as Texas Woman’s University and the University of North Texas (UNT). The city continues to grow through strategic neighborhood planning and economic developments to help facilitate the growth of residents and businesses.
Renters and homeowners enjoy Denton, Texas, because it provides a quality balance of suburbia with big city features. Its closeness to even more metropolitan characteristics found in the Dallas-Fort Worth area and lower cost of living make it ideal for many residents. Many industries are available for workers with education being an obvious choice. UNT is one of the largest employers in the city.
9. League City, Texas
Current Population*: 106,483
Population Increase Between 2010-2020*: 29.9%
Median Home Value**: $245,100
Median Rent**: $1,377/month
Avg. Homeowners Insurance Policy***: $6,671.21/year
Avg. Renters Insurance Policy***: $389.58/year
Halfway between Houston and Galveston is the wonderful community of League City, Texas. Water features are everywhere throughout the city as are parks for ample recreational activities. The city is also home to the Space Center Houston, expanding the occupational opportunities you may find in other Houston-centric cities to literal rocket science. It should also be no surprise that there is plenty of economic development going on in the manufacturing, aerospace, and medical industries. Combine these factors with some of the freshest seafood available in Texas, and it is no wonder why renters and homeowners alike are flocking to this unique city!
**United States Census Bureau
***The Texas Department of Insurance and the Office of Public Insurance Counsel
Note: Statistics and averages are subject to change on a variety of economic factors and more. The figures and statements above are a guide and may change at any time.
Save Money on Renters Insurance or Homeowners Insurance in Texas
Everything is bigger in Texas and it only makes sense that our cities are too. Freedom Insurance Group is proudly located in North Texas and helps renters and homeowners save money on their insurance policies throughout the state.
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Are you a renter? No problem! Feel free to ask one of our agents about how you too can stay protected while renting in the great state of Texas!