For the second year in a row (and third time since 2015), we saw Georgetown named the fastest growing US city of cities with populations of at least 50,000 people by the US Census Bureau. Georgetown first began appearing on this top 10 list in 2015 and topped it in 2016, 2022 and now again in 2023.
Georgetown Grew an Estimated 14.4% from 2021 to 2022
The US Census Bureau estimates that Georgetown grew an estimated 14.4% between July 2021 and July 2022, the time period for this year’s list. The next fastest growing city in this segment, Santa Cruz, saw a 12.5% increase in the same time period.
How Does this Compare to Last Year’s Growth?
Last year, Georgetown added an estimated 10.5% to its population from July 1, 2020 to July 1, 2022. This year we added nearly another 4% to last year’s increase. If you’ve felt like you’re sitting in traffic for longer, running into more lines at the grocery store and seeing schools add kids, it’s not just something you’re imagining. Georgetown is growing and fast.
Why Georgetown?
Why did Georgetown top the list? Not only is Georgetown adding employers, it’s also one of the more low key Austin suburbs with a quaint downtown square, affordable homes and master planned communities with top rated amenities. If you’re looking for an acre in a luxury gated community, a large tract of land or a first home on a small lot, Georgetown has got it. So, the whole family can move and live somewhat near each other, even if they’re at different stages of life and price points. Georgetown is also easily accessible to 35, making commuting a little easier than suburbs to the east or west. Though Georgetown was recently known as a retirement community, that reputation is quickly changing as residents of all ages are seeing what Georgetown has to offer and making it their top choice.
Other Austin Area Suburbs to Make the Top 5 – Kyle and Leander
Both Kyle and Leander also found themselves on this top 10 list of cities, with Kyle coming in at #3 and Leander at #4. Both cities saw a 10.9% increase in residents from July 2021 to July 2022. With Kyle’s median price still in the mid $300k’s, I would expect Kyle to remain on this list for years to come. Though Leander’s prices are a little higher, with a median price in the mid $400k’s, Leander is a little easier place to commute to the northwest Austin tech jobs from, making it a more sensible choice for someone who doesn’t want to spend too long in the car.
How Do Prices and Real Estate Markets Compare Across These Cities?
Kyle is the least expensive, followed by Georgetown and then Leander. Despite prices having gone up in the past few years, we are still much more affordable than other cities across the US with similar employment industries, which is a huge reason we are seeing such growth. Here is a snapshot of each market as of May 2023.
Georgetown Real Estate Market Snapshot May 2023
Kyle Real Estate Market Snapshot May 2023
Leander Real Estate Market Snapshot May 2023
Central Texas is Growing Despite Austin Falling off the Best Places to Live List
Though Austin did not make the best cities to live list for the first time in years, the metro area is still in growth mode. This data shows us that people are still relocating to the Austin area in large numbers but they’re moving to Austin suburbs rather than Austin proper like they were 5-10 years ago. The Austin suburbs give residents a more reasonable cost of living, more space and generally better quality of life not too far outside the city.
Looking to Relocate to Georgetown?
Whether you’re looking to relocate to Georgetown, Kyle, Leander or any other Austin area suburb, our team of buyer’s agents can help. We know the area and the market well and can help you negotiate a favorable deal on your next house. The Austin market is finally shifting and buyers are starting to see the light at the end of the tunnel when it comes to buying a house they like at a fair price, not just a house they won in a bidding war. Let our team of buyer’s agents help you find the right part of town and the right house at the right price. Check out our Home Buyer section to learn more about how we work. Then call us at (512) 827-8323, email us at info@11OaksRealty.com or fill out our Buyer Survey to schedule an online or in person consultation.
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