Georgetown, Texas, is the place to be, at least if you’re of a certain age. Thanks to a surge in baby boomers moving into the city just 40 miles north of Austin, it’s the fastest-growing city in America.
A new Wall Street Journal report stated that boomers are driving the local population boom as they move into an age-restricted community association known as Sun City Texas, mostly reserved for buyers 55 and older.
That wave of newcomers to the community dubbed by Georgetown Mayor Josh Schroeder as the “cruise ship on land,” the report says, is also driving an economic boom.
The town has been the top city for population growth for three straight years, according to Census Bureau data of cities with populations over 50,000, the WSJ reported. It grew 11% last year, 14% in 2022, and 11% in 2021.
“It’s like they’re at college except they don’t have to go to class and they have $3 million in the bank,” Schroeder told the outlet.
Baby boomers are generally considered the wealthiest generation in the U.S. today, with Federal Reserve data from Q3 2023 indicating those over 55 own 72% of wealth in America, with those over 70 holding 30% of all wealth.
Georgetown, Texas, is the place to be, at least if you’re of a certain age. Thanks to a surge in baby boomers moving into the city just 40 miles north of Austin, it’s the fastest-growing city in America.
A new Wall Street Journal report stated that boomers are driving the local population boom as they move into an age-restricted community association known as Sun City Texas, mostly reserved for buyers 55 and older.
That wave of newcomers to the community dubbed by Georgetown Mayor Josh Schroeder as the “cruise ship on land,” the report says, is also driving an economic boom.
The town has been the top city for population growth for three straight years, according to Census Bureau data of cities with populations over 50,000, the WSJ reported. It grew 11% last year, 14% in 2022, and 11% in 2021.
“It’s like they’re at college except they don’t have to go to class and they have $3 million in the bank,” Schroeder told the outlet.
Baby boomers are generally considered the wealthiest generation in the U.S. today, with Federal Reserve data from Q3 2023 indicating those over 55 own 72% of wealth in America, with those over 70 holding 30% of all wealth.
