10 Cities Where the Population Is Booming — and So Are Home Prices

As a city becomes more populated, it’s only natural for home prices to increase as demand increases. However, population surges have led the home prices in some cities to become unaffordable for the average buyer.

The recommended price-to-income ratio is 2.6, meaning it would take the median household 2.6 years of income to purchase a home in their city. But in these 10 fast-growing cities identified by MarketWatch Guides, the average price-to-income ratio is now 3.9.

Here’s a look at 10 cities where both the population and home prices are booming.

• Percent change in population (2017 to 2021): 18.5%
• 2017 price-to-income ratio: 2.8
• 2021 price-to-income ratio: 3.3
• Percent change in price-to-income ratio (2017 to 2021): 17.9%

• Percent change in population (2017 to 2021): 0.8%
• 2017 price-to-income ratio: 2.0
• 2021 price-to-income ratio: 4.6
• Percent change in price-to-income ratio (2017 to 2021): 130.0%

• Percent change in population (2017 to 2021): 10.4%
• 2017 price-to-income ratio: 3.4
• 2021 price-to-income ratio: 4.5
• Percent change in price-to-income ratio (2017 to 2021): 32.5%

• Percent change in population (2017 to 2021): 4.8%
• 2017 price-to-income ratio: 3.1
• 2021 price-to-income ratio: 5.1
• Percent change in price-to-income ratio (2017 to 2021): 64.5%

• Percent change in population (2017 to 2021): 12.7%
• 2017 price-to-income ratio: 3.5
• 2021 price-to-income ratio: 3.8
• Percent change in price-to-income ratio (2017 to 2021): 8.6%

• Percent change in population (2017 to 2021): 12.5%
• 2017 price-to-income ratio: 3.2
• 2021 price-to-income ratio: 3.5
• Percent change in price-to-income ratio (2017 to 2021): 9.4%

• Percent change in population (2017 to 2021): 11.1%
• 2017 price-to-income ratio: 3.3
• 2021 price-to-income ratio: 3.9
• Percent change in price-to-income ratio (2017 to 2021): 18.2%

• Percent change in population (2017 to 2021): 6.0%
• 2017 price-to-income ratio: 2.9
• 2021 price-to-income ratio: 4.3
• Percent change in price-to-income ratio (2017 to 2021): 48.3%

• Percent change in population (2017 to 2021): 10.1%
• 2017 price-to-income ratio: 2.9
• 2021 price-to-income ratio: 3.4
• Percent change in price-to-income ratio (2017 to 2021): 17.2%

• % change in population (2017 to 2021): 6.3%
• 2017 price-to-income ratio: 2.0
• 2021 price-to-income ratio: 2.8
• % change in price-to-income ratio (2017 to 2021): 40.0%

All data is sourced from MarketWatch Guides and is accurate as of Nov. 14, 2023.