For much of the decade before 2022, Austin, Texas, stood as one of the country’s most closely watched real estate success stories, drawing buyers, investors and companies at a remarkable pace.
But as the once red-hot Austin housing market has cooled in recent years, other fast-growing Texas cities and suburbs appear to be taking their turn in the spotlight.
A new report shows just how dominant the Lone Star State has become in the latest boomtown rankings, with Texas cities claiming four of the top five positions among America’s fastest-growing boomtowns.
Real estate agent Alexei Morgado said the broader Sun Belt has continued to attract waves of new residents, with Texas standing out as one of the strongest magnets for homebuyers.
‘What I’m seeing in many of these rapidly expanding suburbs and secondary cities is a similar pattern: growth pushing farther into outlying areas, more new construction and buyers looking for additional space,’ Morgado told Our News Outlet.
The report underscored the ongoing strength of the Texas real estate market, where population growth, a powerful state economy and a steady stream of newly built homes have helped fuel expansion.
Morgado noted that people weighing a move are influenced by more than rising home values, pointing instead to a mix of factors such as expanding housing inventory, job growth and overall economic momentum.
The SmartAsset analysis reviewed more than 400 U.S. cities with populations of at least 65,000, measuring five-year changes in housing supply, labor force growth and local economic output.
Austin saw an influx of new residents around the Covid-pandemic, although the demand for housing in the city has since waned
During the Covid-19 pandemic, remote workers flocked to Texas – Austin in particular. But the boom quickly went bust as developers flooded the market with new homes.
According to the Federal Reserve, the median home price in Austin surged from around $365,000 at the beginning of 2021 to well over $450,000 by late 2021.
Real estate developer Uri Man explained that Austin had one of the fastest growing cycles in the country during Covid.
‘That surge in new units has temporarily shifted the market in favor of renters and led to more than two years of rent declines,’ Man told Our News Outlet.
But for some Texas suburbs, including Georgetown and New Braunfels, that housing boom didn’t result in vacant apartments collecting cobwebs.
Georgetown, instead, emerged as America’s biggest boomtown. Just 30 minutes from Austin, the suburb is known for its historic downtown and its stunning lagoon along the San Gabriel River.
There’s also the Inner Space Cavern to the south, covered with hundreds of stalactites.
Additionally, the area is somewhat of a haven for new residents looking for a cheaper and cozier alternative to Austin.
Even in Austin continues to have excess housing supply, Americans are flocking to suburbs in the area
Austin Avenue in Georgetown is home to historic buildings, shops and restaurants
Andrew Gardner, founder of Houston-based Leap Properties team, told Our News Outlet that people are moving to Texas suburbs so they still have access to major job markets ‘without paying core-city prices.’
‘Georgetown gives families and retirees breathing room,’ Gardner told us. ‘You can still be connected to the Austin economy while getting more space and a different pace of life. That’s a pretty compelling trade.’
The city saw its number of housing units climb 34 percent between 2019 and 2024, while its labor force also grew by 34 percent. The median sale price for a home in Georgetown, Texas, is $430,000 according to Redfin data.
Meanwhile, real GDP in Williamson County, used by SmartAsset as a proxy for the city’s economic output, grew at a compound annual rate of 7.7 percent.
Mitch Coluzzi, Head of Construction for SoldFast, told Our News Outlet that Georgetown has noticeably grown ‘a ton’ in the past few years.
That could be in part, he said, because many seniors are starting to avoid expensive metros in Florida and Arizona. As a result, suburbs like Georgetown are ‘picking up some of the slack.’
‘Honestly, this is just another example of the pattern small towns experience all over,’ Coluzzi said. ‘Word spreads that the town has charm and good job prospects, developers take note and homeowners looking for lower prices/new builds start moving in.’
‘Once property taxes spike and the rate of building slows down, another suburb will have a turn,’ he added.
The median home price in New Braunfels, Texas, is about $385,000 to $395,000, according to Realtor.com
Less than two hours from Georgetown, New Braunfels claimed second place.
The Central Texas city added 40 percent more housing units over the five-year period and saw its labor force grow by 32 percent. Real GDP in Comal County increased at a compound annual rate of 6.8 percent.
Part of New Braunfels’ appeal is also its proximity to Austin, but it also has its own sense of community and city, with a world-famous waterpark, a historic district and even an annual ten-day German festival.
Fourth on the boomtown list is Texas’ Leander, which had the biggest housing-unit increase among the top five – the number of homes in the area jumped 48 percent.
‘The city’s population has continued to grow, which is a testament to its growing appeal,’ the city said in a statement. ‘People from all over the country are flocking to this gem of a city, enticed by its natural splendor, strategic location and vibrant economy.’
Leander describes itself as ‘business-friendly,’ with many residents holding ties to tech companies Samsung, Dell, Tesla and Apple. Leander’s labor force expanded by 25 percent, while county-level real GDP grew 6.1 percent.
In fifth place was Lewisville, north of Dallas.
Just minutes from Dallas Fort Worth Airport and near two major highways, Lewisville says it is ‘perfectly positioned for easy access to the rest of North Texas and the world.’
Lehi, Utah is one of the fastest growing cities in the US – and the only one to break the five top that isn’t from Texas
Lehi has added thousands of new residents since 2020, with some moving in for job opportunities in the city
The median sale price for a home in Lewisville, Texas is current hovering around $400,000, according to Redfin.
The city added 24 percent to its housing stock and expanded its labor force by 23 percent, while its county-level GDP grew at 6.7 percent annually.
Texas may dominate the boomtown ranking, but Lehi, Utah, breaks up the Lone Star State’s sweep.
Ranked third overall, Lehi is the fastest-growing city outside Texas, boasting a 39 percent increase in housing units and a stunning 67 percent increase in its labor force over the five-year period analyzed.
Recently, the area has become an technology and business hub along Utah’s Wasatch Front, attracting companies like Adobe, Microsoft and Texas Instruments.
That growth has transformed Lehi from a relatively small Utah community into a city of nearly 100,000 residents. US Census Bureau estimates put Lehi’s population at 95,313 in 2025, up from 47,407 at the 2010 census – roughly doubling in 15 years.
