10 US Cities Where a Bump Up in Population Is Affecting Housing Prices
While population growth can be an indicator of a city’s desirability, it can also lead to more expensive housing
July 29, 2024
Image: f11photo / stock.adobe.com
A recent population increase in Austin, Texas, has caused home prices to increase.
Population growth often indicates that a city is desirable due to its job opportunities, affordable housing, and nearby amenities. However, it can also result in overcrowding and increased demand for housing. This demand can drive up home prices, which benefits homeowners but can make buying a home more challenging. GoBankingRates identified several cities that have been most affected by population increases. Austin, Texas, leads the pack with the most overcrowding, followed by Raleigh, N.C., and Orlando, Fla.
If more people move to a city than leave, housing demand increases and drives up home prices. Home price appreciation is great news if you’re a homeowner, but it makes buying a home slightly harder.
