What do you get when a city is surging in population, housing growth, and economy all at once? For a place like Georgetown, it adds up to being named America's No. 1 newest boomtown, according to a new survey from SmartAsset.

The personal finance website's just-released report analyzed more than 400 U.S. cities with populations of 65,000 or more to identify places experiencing rapid growth based on five-year changes in economic output, housing units, and labor force size.

Texas is home to the second-highest concentration of new boomtowns in America with 18 out of 75 located in the Lone Star State. Only Florida ranks higher than Texas by just one.

However, Texas nearly locked out the top five most bustling boomtowns in America. Behind Georgetown are Central Texas neighbors New Braunfels (No. 2) and Leander (No. 4), with the Dallas-Fort Worth suburb of Lewisville ranking No. 5. Lehi, Utah, claimed third place.

Georgetown topped the list with a 34 percent increase in housing units from 2019 to 2024, with its labor force growing by the same percentage during that time. SmartAsset also determined that Williamson County's economic output grew at compound annual rates of 7.7 percent — higher than any other county in the U.S.

The report says population booms and "expanding business activity" can create "visible momentum" for an up-and-coming city, but these fast changes can alter places in ways residents may not expect.

"In recent years, some American cities stand out for attracting people, investment and development at a pace that sets them apart," the report said. "Boomtown status does not mean growth benefits everyone equally, but it does reflect a city’s expanding economic capacity and the new opportunities that come with it."

Georgetown has soared in popularity as one of America's most sought-after suburbs, boosted by its family-friendliness, its livability for retirees, and its overall safety for residents. The city's food scene has also seen rapid expansion this year with the opening of new restaurants like Haji Moto and Sovian Restaurant & Cocktail Lounge. H-E-B has also continued to expand into this booming area.

Elsewhere in the Austin area, Leander saw a 48 percent increase in its housing for residents over the last five years, and its labor force has grown by 25 percent, SmartAsset found. Travis County's GDP grew 6.1 percent during the same period.

Austin, meanwhile, ranked 37th on the list with a 17 percent increase in housing units and a 6 percent increase in its labor force since 2019.

Four more Central Texas cities earned spots in the report: Cedar Park (No. 28), Temple (No. 29), Round Rock (No. 43), and Pflugerville (No. 60).

America's top 10 new boomtowns are:

• No. 1 – Georgetown
• No. 2 – New Braunfels
• No. 3 – Lehi, Utah
• No. 4 – Leander
• No. 5 – Lewisville
• No. 6 – Palm Coast, Florida
• No. 7 – Nampa, Idaho
• No. 8 – McKinney
• No. 9 – Conroe
• No. 10 – Frisco