The New Capital of Economic Momentum: Why This Texas City Is America’s #1 Boomtown

A massive shifts is occurring in the American economic landscape. For years, major metro hubs dominated growth headlines, but a new study proves that the real momentum has officially moved to the suburbs.

Financial technology platform SmartAsset recently released its “America’s New Boomtowns” study. The report analyzed over 400 U.S. cities with populations of 65,000 or more. Researchers evaluated five-year data points between 2019 and 2024 to rank municipal economies experiencing rapid, compounding growth.

The results are in, and Georgetown, Texas is officially the No. 1 boomtown in the United States.

Inside the Methodology: How SmartAsset Measures a “Boomtown”

The study avoided flashy, short-term metrics. Instead, SmartAsset evaluated long-term economic capacity by tracking five-year changes across three core pillars:

  • Housing Unit Growth: Tracks the expansion of residential infrastructure.
  • Labor Force Expansion: Measures the influx of working-age adults actively participating in the local economy.
  • Economic Output: Uses county-level compound annual real GDP growth as a proxy for localized wealth generation.

Texas and Florida absolutely dominated the overall list, claiming 18 and 19 of the top 75 slots respectively. However, Central Texas independent suburbs captured the absolute highest scores in the nation.

By the Numbers: Georgetown’s Meteoric Rise

Georgetown’s first-place finish isn’t just a marginal victory; its growth metrics outpaced hundreds of competing communities nationwide.

Georgetown, Growth Metrics (2019–2024)
├── Housing Units:   ▲ 34%
├── Labor Force:     ▲ 34%
└── Real GDP (Wilco): ▲ 7.7%

Over the five-year tracking period, Georgetown expanded its housing units by 34%. Mirroring that exact pace, the city’s labor force grew by 34%, successfully matching local housing supply with incoming employment demand.

Furthermore, SmartAsset noted that Williamson County’s economic output grew at a compound annual rate of 7.7%—representing the highest county-level economic growth rate anywhere in the country.

The Rest of the Top Five: Lone Star Dominance

The broader Central Texas region is moving in lockstep with Georgetown. Texas secured four out of the top five national spots:

  1. Georgetown, TX (+34% housing, +34% labor force)
  2. New Braunfels, TX (+40% housing, +32% labor force)
  3. Lehi, UT (+39% housing, +67% labor force)
  4. Leander, TX (+48% housing, +25% labor force)
  5. Lewisville, TX (+24% housing, +23% labor force)

While the city of Austin proper landed at No. 37, its surrounding exurbs are taking the spotlight. Developers, businesses, and families are choosing these peripheral areas for their combination of newer infrastructure, safety, and physical space to grow.

The ROCK Group Realtors® is an experienced and trusted Round Rock & Central Texas Real Estate brokerage. For more than 20 years, we have assisted clients across Central Texas, providing thoughtful and professional service that sets us apart. If you’re looking for experienced real estate agents in Round Rock, TX and surrounding areas, call the ROCK Group @ 512-850-4510.