18 Most Affordable, Fastest-Growing Cities in the South
Relocating to the South is a win-win for Americans seeking a lower cost of living as homeowners and renters compared to what they’d pay in coastal cities. Key findings from a recent MoneyLion analysis reveal 18 cities have ranked among the most affordable and fastest-growing in the Southern region of the United States.
A recent MoneyLion study on America’s affordable and fast-growing major cities yielded data for this piece. Each city mentioned has a total population of at least 100,000, recent population growth larger than the national growth rate and an average rental or mortgage cost lower than the national average. We calculated the leftover savings for homeowners and renters using each metro’s median household income and total cost of living for homeowners and renters.
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All cities were ranked with their one-year population change, five-year population change and the leftover savings for homeowners and renters. To ensure these cities are fast-growing, we kept only those locations with five-year population changes of 10% or greater.
Check out the South’s 18 most affordable and fastest-growing cities.
1. Frisco, Texas
5-year population growth (%): 23.9%
Median household income: $150,212
Annual cost of living for homeowner: $66,499
Annual cost of living for renter: $46,027
Leftover savings for homeowner: $83,713
Leftover savings for renter: $104,185
2. New Braunfels, Texas
5-year population growth (%): 31.7%
Median household income: $86,021
Annual cost of living for homeowner: $45,672
Annual cost of living for renter: $41,910
Leftover savings for homeowner: $40,349
Leftover savings for renter: $44,111
3. McKinney, Texas
5-year population growth (%): 15.7%
Median household income: $124,215
Annual cost of living for homeowner: $55,252
Annual cost of living for renter: $44,266
Leftover savings for homeowner: $68,963
Leftover savings for renter: $79,949
4. League City, Texas
5-year population growth (%): 12.5%
Median household income: $121,099
Annual cost of living for homeowner: $47,487
Annual cost of living for renter: $45,240
Leftover savings for homeowner: $73,612
Leftover savings for renter: $75,859
5. Conroe, Texas
5-year population growth (%): 21.3%
Median household income: $76,206
Annual cost of living for homeowner: $44,014
Annual cost of living for renter: $42,369
Leftover savings for homeowner: $32,192
Leftover savings for renter: $33,837
6. Lewisville, Texas
5-year population growth (%): 23.2%
Median household income: $89,233
Annual cost of living for homeowner: $49,382
Annual cost of living for renter: $42,859
Leftover savings for homeowner: $39,851
Leftover savings for renter: $46,374
7. Concord, North Carolina
5-year population growth (%): 18.2%
Median household income: $86,921
Annual cost of living for homeowner: $47,762
Annual cost of living for renter: $43,555
Leftover savings for homeowner: $39,159
Leftover savings for renter: $43,366
8. Cape Coral, Florida
5-year population growth (%): 17.2%
Median household income: $78,104
Annual cost of living for homeowner: $48,921
Annual cost of living for renter: $48,944
Leftover savings for homeowner: $29,183
Leftover savings for renter: $29,160
9. Palm Bay, Florida
5-year population growth (%): 16.2%
Median household income: $72,614
Annual cost of living for homeowner: $43,216
Annual cost of living for renter: $45,807
Leftover savings for homeowner: $29,398
Leftover savings for renter: $26,807
10. Murfreesboro, Tennessee
5-year population growth (%): 18.4%
Median household income: $80,108
Annual cost of living for homeowner: $51,580
Annual cost of living for renter: $44,304
Leftover savings for homeowner: $28,528
Leftover savings for renter: $35,804
11. Denton, Texas
5-year population growth (%): 12.2%
Median household income: $76,019
Annual cost of living for homeowner: $46,436
Annual cost of living for renter: $41,252
Leftover savings for homeowner: $29,583
Leftover savings for renter: $34,767
12. Clarksville, Tennessee
5-year population growth (%): 15.4%
Median household income: $69,303
Annual cost of living for homeowner: $43,790
Annual cost of living for renter: $39,882
Leftover savings for homeowner: $25,513
Leftover savings for renter: $29,421
13. Huntsville, Alabama
5-year population growth (%): 13.5%
Median household income: $74,714
Annual cost of living for homeowner: $42,603
Annual cost of living for renter: $40,226
Leftover savings for homeowner: $32,111
Leftover savings for renter: $34,488
14. Fort Worth, Texas
5-year population growth (%): 10.2%
Median household income: $79,507
Annual cost of living for homeowner: $44,388
Annual cost of living for renter: $43,987
Leftover savings for homeowner: $35,119
Leftover savings for renter: $35,520
15. Orlando, Florida
5-year population growth (%): 13.9%
Median household income: $72,336
Annual cost of living for homeowner: $51,244
Annual cost of living for renter: $47,862
Leftover savings for homeowner: $21,092
Leftover savings for renter: $24,474
16. Lakeland, Florida
5-year population growth (%): 11.2%
Median household income: $64,185
Annual cost of living for homeowner: $43,526
Annual cost of living for renter: $43,638
Leftover savings for homeowner: $20,659
Leftover savings for renter: $20,547
17. Tuscaloosa, Alabama
5-year population growth (%): 11.7%
Median household income: $51,464
Annual cost of living for homeowner: $38,128
Annual cost of living for renter: $41,482
Leftover savings for homeowner: $13,336
Leftover savings for renter: $9,982
18. Gainesville, Florida
5-year population growth (%): 10.3%
Median household income: $46,195
Annual cost of living for homeowner: $44,127
Annual cost of living for renter: $43,690
Leftover savings for homeowner: $2,068
Leftover savings for renter: $2,505
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Methodology: Using the Census American Community surveys from 2019, 2023 and 2024, the total population, total households and household median income were all sourced and used to calculate the [1] 1-year and [2] 5-year population changes. To qualify for this study, the city had to have a total population of at least 100,000, a 1-year and 5-year population growth larger than the national growth rate from the same time period and an average rental cost or average mortgage cost lower than the national average. Relevant data was sourced from Zillow Observed Rental Index and Zillow Home Value Index, Federal Reserve Economic Data, Sperling’s BestPlaces, AreaVibes and the Bureau of Labor Statistics Consumer Expenditure Survey. The median household income and the cost of living for homeowners and renters were used to calculate the [3] leftover savings for homeowners and [4] leftover savings for renters. [1] The 1-year population change, [2] 5-year population change, [3] leftover savings for homeowners, and [4] leftover savings for renters were all scored and sorted. All data is up to date as of Feb. 20, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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