Georgetown, Texas is the fastest growing city in the United States for the second year in a row. The town about 30 miles north of Austin grew by 14.4 percent between July 2021 and July 2022, according to the U.S. Census Bureau. The Census estimated the town at about 87,000 people in 2022. Georgetown is home to Southwestern University and is know as the Red Poppy capital of Texas.
According to Realtor.com®, the median home list price in Georgetown was $525,000 in April 2023, which is significantly less than Austin. Realtor.com® also cited ample homes available for purchase, with more than half the listed homes being new construction.
Texas Real Estate Research Center at Texas A&M University Executive Director Gary Maler said, “Austin got so much more expensive that people flocked to the suburbs because they were somewhat less expensive. There is just a lot of construction. … We haven’t been able to build it fast enough.”
Four of the top 10 fastest-growing cities were in Texas. The Austin suburbs of Kyle and Leander came in third and fourth, respectively. Little Elm, outside of Dallas, came in fifth. The bureau used only cities with at least 50,000 residents to compile the list.
Maler said, “Jobs in Texas outpace many other states. There’s a pro-business attitude in Texas. There’s a variety of cultures and sceneries in Texas. We have relatively lower costs than other states, although we’re starting to lose that.”
Eight of the top ten fastest-growing cities were in the South.