26 Cities Where the Population Is Growing Rapidly — but Home Prices Are Shrinking

Typically, as populations rise, so do home prices due to an increasing demand for a limited supply. However, this isn’t always the case.

Zoocasa analyzed cities with a population of 100,000 or more where the population changed by more than 0.5%, either increasing or decreasing, between July 2022 and July 2023. Zoocasa then compared median home prices from 2022 to 2024 to calculate the percentage difference in home prices in relation to these population shifts. In some cities, the population increased while home prices surprisingly dropped.

Here’s a look at the places where the population recently boomed, but homes have become more affordable.

• Population % change (July 2022 to July 2023): 3.2%
• Median home price (2022): $440,000
• Median home price (2024): $396,995
• Home price % change: -9.8%

• Population % change (July 2022 to July 2023): 1.5%
• Median home price (2022): $341,600
• Median home price (2024): $314,000
• Home price % change: -8.1%

• Population % change (July 2022 to July 2023): 0.7%
• Median home price (2022): $463,500
• Median home price (2024): $431,000
• Home price % change: -7%

• Population % change (July 2022 to July 2023): 0.7%
• Median home price (2022): $557,500
• Median home price (2024): $519,000
• Home price % change: -6.9%

• Population % change (July 2022 to July 2023): 3.9%
• Median home price (2022): $589,990
• Median home price (2024): $551,950
• Home price % change: -6.5%

• Population % change (July 2022 to July 2023): 2.7%
• Median home price (2022): $467,500
• Median home price (2024): $438,470
• Home price % change: -6.2%

• Population % change (July 2022 to July 2023): 2.2%
• Median home price (2022): $355,000
• Median home price (2024): $335,907
• Home price % change: -5.4%

• Population % change (July 2022 to July 2023): 2.8%
• Median home price (2022): $549,450
• Median home price (2024): $525,000
• Home price % change: -4.5%

• Population % change (July 2022 to July 2023): 2.4%
• Median home price (2022): $549,450
• Median home price (2024): $525,000
• Home price % change: -4.5%

• Population % change (July 2022 to July 2023): 0.9%
• Median home price (2022): $355,000
• Median home price (2024): $339,500
• Home price % change: -4.4%

• Population % change (July 2022 to July 2023): 3.1%
• Median home price (2022): $491,600
• Median home price (2024): $471,500
• Home price % change: -4.1%

• Population % change (July 2022 to July 2023): 1.1%
• Median home price (2022): $245,000
• Median home price (2024): $236,200
• Home price % change: -3.6%

• Population % change (July 2022 to July 2023): 4%
• Median home price (2022): $507,000
• Median home price (2024): $490,000
• Home price % change: -3.4%

• Population % change (July 2022 to July 2023): 1.6%
• Median home price (2022): $324,900
• Median home price (2024): $313,900
• Home price % change: -3.4%

• Population % change (July 2022 to July 2023): 1.2%
• Median home price (2022): $453,600
• Median home price (2024): $440,900
• Home price % change: -2.8%

• Population % change (July 2022 to July 2023): 1.3%
• Median home price (2022): $390,000
• Median home price (2024): $380,000
• Home price % change: -2.6%

• Population % change (July 2022 to July 2023): 1.3%
• Median home price (2022): $739,900
• Median home price (2024): $726,500
• Home price % change: -1.8%

• Population % change (July 2022 to July 2023): 0.9%
• Median home price (2022): $605,500
• Median home price (2024): $595,500
• Home price % change: -1.7%

• Population % change (July 2022 to July 2023): 2%
• Median home price (2022): $560,000
• Median home price (2024): $552,000
• Home price % change: -1.4%

• Population % change (July 2022 to July 2023): 1.2%
• Median home price (2022): $545,000
• Median home price (2024): $538,450
• Home price % change: -1.2%

• Population % change (July 2022 to July 2023): 2%
• Median home price (2022): $269,900
• Median home price (2024): $268,400
• Home price % change: -0.6%

• Population % change (July 2022 to July 2023): 1.3%
• Median home price (2022): $283,800
• Median home price (2024): $282,500
• Home price % change: -0.5%

• Population % change (July 2022 to July 2023): 1.8%
• Median home price (2022): $466,400
• Median home price (2024): $465,400
• Home price % change: -0.2%

• Population % change (July 2022 to July 2023): 0.7%
• Median home price (2022): $466,400
• Median home price (2024): $465,400
• Home price % change: -0.2%

• Population % change (July 2022 to July 2023): 0.6%
• Median home price (2022): $375,567
• Median home price (2024): $375,000
• Home price % change: -0.2%

• Population % change (July 2022 to July 2023): 0.8%
• Median home price (2022): $756,200
• Median home price (2024): $755,300
• Home price % change: -0.1%

Data is sourced from Zoocasa and is accurate as of June 20, 2024.