Suburbs and exurbs fuel population growth in the Greater Phoenix area

Article originally posted on CoStar on May 18, 2026

Newly released data from the U.S. Census Bureau reiterates the Valley’s strong demographic profile and provides deeper insight into where population gains are happening.

In the five-year period from July 1, 2020, to July 1, 2025, the Phoenix metropolitan statistical area (MSA) added about 353,700 residents, the fourth-largest absolute gain in the United States. That amount represents a 7.3% cumulative increase, ranking 11th among the 56 MSAs with at least 1 million people.

Looking across individual towns and cities, growth has tilted toward more affordable areas on the outer edge of the market since the pandemic’s onset.

Pinal County, one of two counties that comprise the Phoenix MSA, notched a population increase of 25.4% over the past five years, the largest gain among the nearly 300 U.S. counties with at least 250,000 people. The area offers a lower cost of living, with median home sale prices that are 20% to 25% lower than in nearby Maricopa County, according to Homes.com data. Additionally, ample available land has attracted manufacturers, with Chang Chun, Kohler and Lucid, among others, setting up operations here in recent years.

As a result, Pinal County cities like Coolidge, Maricopa and Casa Grande have seen blistering growth rates, expanding by 30% or more during the five years. As emerging areas with smaller residential bases, however, their growth on an absolute basis is comparatively modest, particularly in Coolidge and Eloy.

Queen Creek straddles the border of Maricopa and Pinal counties and benefits from similar drivers. Residential developers have been active here, quickly growing the area’s stock of for-rent and for-sale housing, often at a more affordable price point. Queen Creek added 29,100 residents over the past five years, and the resulting 48% increase is one of the fastest growth rates in the Valley.

West Valley cities are also expanding quickly, with Buckeye, Surprise and Goodyear all posting population growth three times the metropolitan-wide level, each adding more than 25,000 people.

Buckeye has been particularly red-hot, and the 34.3% increase in population over the past five years ranks number one in the country among the 235 cities and towns with at least 125,000 people.

While more established areas in the interior of the metropolitan area have not seen the double-digit growth rates like those on the Valley’s periphery, many continue to expand at a steady clip.

For example, Gilbert added 17,900 people over the past five years, growing 6.6%. And the city of Phoenix saw a 53,000-person increase, up 3.3%.

Moving forward, the Valley’s demographic momentum will likely continue to drive local economic growth and underlying demand for nearly all types of real estate. The larger residential base fuels the need for housing, while an expanding pool of consumers strengthens demand among retailers. Additionally, the growing population base broadens the Valley’s labor pool, indirectly supporting demand for office and industrial space.