Union City and McDonough Named Among Fastest-Growing Suburbs in the Nation
GEORGIA, USA — Two cities in Georgia have recently gained significant attention for their rapid growth. According to a recent report, Union City and McDonough are now ranked among the fastest-growing suburbs in the United States. The report highlights key factors contributing to their rising popularity, including relatively affordable home prices and an upturn in population growth.
Union City’s Growth and Affordable Home Prices
Union City, located in the southern part of Fulton County, has seen remarkable growth numbers. The report positioned Union City at No. 4 on the list, surpassing other well-known suburbs such as Canyon Lake, Texas, and Clermont, Florida. Researchers indicated that from 2020 to 2022, Union City experienced a substantial 22.27% increase in its population. Last year, the average home value in Union City was recorded at $259,054.
McDonough’s Rise in Popularity and Population
About 30 miles south of Atlanta, McDonough also made it to the list, ranked at No. 18. The average home value in McDonough stood at $354,810 in July 2024. This city saw a notable 13.93% surge in its population over just two years, from 2020 to 2022. The city’s proximity to Atlanta and a more relaxed suburban lifestyle are likely contributing factors to its appeal among homebuyers.
Interest Rates and Market Trends
Adding to the attraction of these growing suburbs, recent data show that home interest rates have become more favorable. As of August 22, interest rates fell to 6.46%, a significant drop from over 7% a year ago. This decrease in interest rates could further stimulate the housing market in Union City and McDonough, making home purchases more accessible for potential buyers.
Analyzing the Broader Picture
The rankings were based on U.S. Census data from 2020 to 2022 as analyzed by researchers. Both Union City and McDonough offer a mix of affordable living, increasing job opportunities, and a growing population, making them attractive options for people looking to relocate. The combination of lower-than-average home prices and declining interest rates could drive future growth in these areas.
Mooresville Takes the Top Spot
Additionally, the report crowned Mooresville, North Carolina, as the top suburb in the nation. While Union City and McDonough came close, Mooresville’s robust growth stood out, placing it at No. 1 on the list.
The Implications for Georgia’s Growth
The inclusion of Union City and McDonough in the list of fastest-growing suburbs underscores the dynamic nature of Georgia’s housing market. As these cities continue to expand, they are likely to attract more residents, businesses, and investment opportunities, further boosting the state’s economic landscape.
Overall, the recent rankings serve as a testament to the growing appeal of these Georgia suburbs, which are not only expanding but also providing more affordable housing options for people looking to move away from congested urban centers.
