GOBankingRates recently conducted a study to find the fastest-growing suburbs in America and the cost of living in each. Among the top 50 cities, just four Midwest suburbs made the list (Texas towns dominated).
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Two of the places were suburbs of Indianapolis, with growth of over 30% between 2018 and 2023. See the salary you need to make it in these bustling Midwestern suburbs.
Westfield, Indiana
Suburb of: Indianapolis
Population increase %: 35.3%
Income needed to live comfortably: $112,482
Household median income: $119,598
Total cost of living annually: $56,241
Average home value: $464,949
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Avon, Indiana
Suburb of: Indianapolis
Population increase %: 32.1%
Income needed to live comfortably: $97,404
Household median income: $97,589
Total cost of living annually: $48,702
Average home value: $352,278
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Otsego, Minnesota
Suburb of: Minneapolis
Population increase %: 31.9%
Income needed to live comfortably: $105,007
Household median income: $127,219
Total cost of living annually: $52,503
Average home value: $410,617
Hamtramck, Michigan
Suburb of: Detroit
Population increase %: 26.8%
Income needed to live comfortably: $76,618
Household median income: $40,103
Total cost of living annually: $38,309
Average home value: $161,629
Editor’s note: Photos are for representational purposes only and might not reflect the exact locations/items listed.
Methodology: For this study, GOBankingRates found suburbs with 2023 populations between 20,000 and 100,000. Metro areas with at least 1 million people were kept for this study. GOBankingRates then found total population for 2023, total population for 2018 and household median income from the U.S. Census American Community Survey. The percentage change in population from 2018 to 2023 was then calculated. The highest percentage changes were selected to represent the fastest-growing suburbs. The cost of living was sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous indexes. Using data fom the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location was calculated. The average home value was sourced from Zillow Home Value Index for February 2025 and average mortgage was calculated using Federal Reserve Economic Data. Cost of living then was calculated. All data was collected on and is up to date as of March 24, 2025.
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This article originally appeared on GOBankingRates.com: Want To Live in One of These Bustling Midwest Suburbs? Here’s the Salary You Need
