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The 25 Fastest-Growing Cities in the US in 2024 and 2025 — and How Much It Costs To Live in Each

August 10, 2024

6 min Read

Written by Nicole Spector

Edited by Chris Cluff

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“Where is the best place to live?” It’s an age-old question with an ever-evolving answer. Our values as consumers are always shifting, and in an increasingly digital age where working remotely isn’t uncommon, we don’t necessarily equate where we live with where we make our money.

One aspect to consider when considering the best place to live is the speed at which these cities are growing. A growing city is a healthy one and is appealing to folks for a few reasons, including a robust job market and affordable housing.

U.S. News & World Report recently published a study that determined the fastest-growing cities in the U.S. in 2024 and 2025. To do this, they analyzed 150 metros and used the U.S. Census Bureau’s net migration data from 2021 to 2022 to narrow in on the 25 that have grown the most during this period.

GOBankingRates then used data from PayScale to find out the cost of living in these cities, as compared to the national average. For the cost of living in Lakeland, Florida, GOBankingRates used data from the Economic Research Institute, and for York, Pennsylvania, and Ocala, Florida, we used data from RentCafe. The only city for which we did not find cost of living measurements was Port St. Lucie, Florida.

Here are our fastest-growing cities and the cost of living for each.

25. Phoenix

Best Places 2024-2025 Rank: 67
Population: 1,609,590
Median Age: 36
Median Home Price: $341,740
Median Household Income: $81,277
Net Migration: 2.83%
Cost of Living: 4% higher than the national average

24. Miami

Best Places 2024-2025 Rank: 123
Population: 461,672
Median Age: 41
Median Home Price: $448,531
Median Household Income: $64,587
Net Migration: 2.84%
Cost of Living: 21% higher than the national average

23. Boise, Idaho

Best Places 2024-2025 Rank: 2
Population: 277,498
Median Age: 39
Median Home Price: $422,080
Median Household Income: $85,886
Net Migration: 2.86%
Cost of Living: 8% higher than the national average

22. Denver

Best Places 2024-2025 Rank: 40
Population: 755,412
Median Age: 37
Median Home Price: $565,720
Median Household Income: $97,799
Net Migration: 2.87%
Cost of Living: 11% higher than the national average

21. Charleston, South Carolina

Best Places 2024-2025 Rank: 13
Population: 175,795
Median Age: 39
Median Home Price: $510,515
Median Household Income: $92,032
Net Migration: 2.95%
Cost of Living: 2% lower than the national average

20. Oklahoma City

Best Places 2024-2025 Rank: 16
Population: 681,446
Median Age: 36
Median Home Price: $199,303
Median Household Income: $74,604
Net Migration: 3.06%
Cost of Living: 16% lower than the national average

19. Austin, Texas

Best Places 2024-2025 Rank: 9
Population: 1,002,397
Median Age: 36
Median Home Price: $487,981
Median Household Income: $98,483
Net Migration: 3.11%
Cost of Living: 1% higher than the national average

18. Lakeland, Florida

Best Places 2024-2025 Rank: 80
Population: 163,774
Median Age: 41
Median Home Price: $204,765
Median Household Income: $65,531
Net Migration: 3.19%
Cost of Living: 10% lower than the national average

17. York, Pennsylvania

Best Places 2024-2025 Rank: 137
Population: $48,333
Median Age: 37
Median Home Price: $106,688
Median Household Income: $47,487
Net Migration: 3.34%
Cost of Living: 1% higher than the national average

16. Huntsville, Alabama

Best Places 2024-2025 Rank: 7
Population: 237,887
Median Age: 40
Median Home Price: $245,381
Median Household Income: $83,856
Net Migration: 3.35%
Cost of Living: 8% lower than the national average

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15. Brownsville, Texas

Best Places 2024-2025 Rank: 87
Population: 201,134
Median Age: 32
Median Home Price: $112,823
Median Household Income: $53,014
Net Migration: 3.49%
Cost of Living: 15% lower than the national average

14. Fayetteville, Arkansas

Best Places 2024-2025 Rank: 21
Population: 113,010
Median Age: 33
Median Home Price: $281,646
Median Household Income: $70,165
Net Migration: 3.54%
Cost of Living: 9% lower than the national average

13. Tampa, Florida

Best Places 2024-2025 Rank: 35
Population: 515,872
Median Age: 37
Median Home Price: $358,489
Median Household Income: $81,303
Net Migration: 3.58%
Cost of Living: On par with the national average

12. Naples, Florida

Best Places 2024-2025 Rank: 1
Population: 122,578
Median Age: 53
Median Home Price: $577,796
Median Household Income: $98,120
Net Migration: 3.63%
Cost of Living: N/A, but according to BestPlaces, the recommended annual minimum income for a single person in Naples is $62,000