Charlotte NC and Houston TX have had a similar if not higher population growth rate compared to major west cost and north east cities, where their housing prices have remained below the national average.
The reason why cities where tech locates in are so expensive is the lack of low cost new housing which comes from the fact that all land prices in a reasonable commutable distance are already very high. While it's bad for the environment, greenfield sprawl is the only true success we've seen in constructing affordable housing.
> where their housing prices have remained below the national average
But are they higher than they were before the population grew? That's the important metric here, and would speak to whether home building kept up with the population growth.
Except cost of living in major tech cities is usually skewed higher because of housing in particular, things like groceries are generally only a small impact.
Net land values are absolutely higher than they once were, farm/ranching fields now have housing on them. And while prices are higher than before the population grew, the prices have remained affordable for those earning the median income the entire time since the agglomeration effects of this growth has caused wages to rise.
The reason why cities where tech locates in are so expensive is the lack of low cost new housing which comes from the fact that all land prices in a reasonable commutable distance are already very high. While it's bad for the environment, greenfield sprawl is the only true success we've seen in constructing affordable housing.