- Woodbridge, Virginia, was named the fastest-growing suburb within the nation by GOBankingRates.
- The inhabitants of this Northern Virginia group, positioned simply half an hour outdoors the nation’s capital, grew 887 % between 2018 and 2023.
- GOBankingRates studies {that a} household would want an annual earnings of over $120,000 to reside in Woodbridge.
People are moving out of big cities. Based on a 2024 report by Goldman Sachs, an estimated 650,000 individuals left the biggest U.S. cities in 2022 and a further 550,000—in 2023. So, the place are they heading? GOBankingRates has a good suggestion.
On Thursday, the web site launched its new examine rating the fastest-growing suburbs within the nation, and Woodbridge, Virginia, a city about half-hour outdoors of Washington, D.C., topped the checklist. The Northern Virginia group’s inhabitants grew by practically 900% to a whopping 43,443 in 2023.
“Woodbridge is by far the primary fastest-growing suburb in America, in keeping with our newest analysis,” CJ Williamson, a researcher at GOBankingRates, instructed Journey + Leisure. “The DC-area suburb skilled a large inhabitants increase of 887% between 2018 and 2023.”
Williamson added: “With a purpose to comfortably afford this city, you may want a family earnings of greater than $120,000.” That metric consists of the price of dwelling (assume groceries, transportation, and leisure) and the typical month-to-month mortgage value. “In the meantime, the typical single-family residence value is above $500,000,” Williamson added.
Whereas Woodbridge got here out on prime, Texas had one of the best exhibiting total, with six cities within the prime 10. That features Fulshear within the no. 2 spot, adopted by Celina and Princeton in third and fourth, respectively. Rounding out the highest 10 are Queen Creek in Arizona in fifth, adopted by Prosper, Texas; Fort Mill, South Carolina; Destiny, Texas; Anna, Texas; and Groveland, Florida, in tenth.
For this report, GOBankingRates recognized suburbs with a 2023 inhabitants between 20,000 and 100,000 individuals. Then, for every group, it thought of its inhabitants change from 2018 to 2023, the variety of residents aged 65 and over, whole households, and family median earnings. Moreover, it recognized every city’s value of dwelling, livability index, and the typical worth of a single-family residence.
See the whole checklist of suburbs that may make for an ideal new hometown at gobankingrates.com.
