This Austin-area suburb has proven it's not just a laid back destination for tourists, but one of the fastest-growing cities in the nation. Georgetown experienced the fourth-highest population boom nationwide from 2022 to 2023, according to a new population growth study by SmartAsset.

The newly released report, "These Cities Saw the Largest Growth in Population – 2024 Study," examined U.S. Census population estimates for 2023, 2022, and 2018 to determine one-year and five-year population changes for 610 U.S. cities with populations of at least 65,000 residents in 2023 (where the most recent data was available).

Silver Spring, Maryland had the No. 1 biggest population boom from 2022 to 2023, SmartAsset found. The Washington, D.C. suburb grew 12.86 percent year-over-year, bringing the city's total population from 75,313 to 84,996 residents in 2023.

Georgetown trailed close behind with a 11.34 percent increase in population from 2022 to 2023, which landed it the No. 4 spot in the one-year population change analysis. The city gained 9,812 new residents in that time, adding up to a total population of 96,317 residents in 2023.

This should come as no surprise to those who already live in Georgetown, who may know their hometown was ranked one of the safest suburbs in America, and one of the best places to retire in the Hill Country. Georgetown was also named the eighth fastest-growing city this year by a separate list with a slightly different scope — so no matter how you slice it, Georgetown is way ahead of the pack.

According to SmartAsset's five-year population comparison, Georgetown had the seventh highest increase in the country, at 29.85 percent. There were only 74,176 residents living in the far-flung Austin suburb in 2018, showing an increase of 22,141 residents within the five-year period.

The report also examined the changes within Georgetown's working-age population:

• Number of working-age residents in 2022 – 37,290
• Number of working-age residents in 2023 – 40,074
• Percent of population of working age in 2022 – 43.11 percent
• Percent of population of working age in 2023 – 41.61 percent
• One-year change in the number of working-age residents from 2022 to 2023 – 7.47 percent increase

The report suggested major population shifts in communities like Georgetown can result in "a variety of interwoven economic and social impacts."

"The magnitude of the population change can affect demand for businesses and services, which in turn may impact costs – or even the availability of such amenities," the report's author wrote. "Similarly, the relative age of the population can determine the strength or weakness of the local job market, as well as have an impact on local culture, economic trajectory, tax base and more."

Georgetown's location 30 miles north of downtown Austin, coupled with its close proximity to I-35 and TX-130, makes this city the ideal place for Texans who want to escape the big city noise for a while and maintain a closer distance to outlying Hill Country towns.

Fast-growing cities elsewhere in Texas
Texas cities dominated the top 10 list of cities where population grew the most from 2022 to 2023.

New Braunfels, a San Antonio suburb, ranked No. 2 nationally with an 12.49 percent one-year population boom, and a 29.68 percent growth rate from 2018 to 2023. The city gained 12,318 new residents in that time, adding up to a total population of 110,961 residents in 2023.

Meanwhile, the Houston suburbs of Atascocita and Conroe ranked No. 5 and No. 9, respectively. Atascocita's total population grew to 119,502 residents in 2023, which represented a 11.03 percent growth rate from 2022, and a whopping 38.56 percent population increase since 2018. Conroe's 6.73 percent one-year population increase paled in comparison, but the city grew 23.49 percent during the five-year period from 2018 to 2023.

Just outside the top 10 was Round Rock, which had the 14th highest population boom in the U.S. from 2022 to 2023. The North Austin suburb gained more than 6,900 residents within the year, representing a 5.57 percent growth rate.

The top 10 U.S. cities where population grew the most from 2022 to 2023 are:

• No. 1 – Silver Spring, Maryland
• No. 2 – New Braunfels, Texas
• No. 3 – Glen Burnie, Maryland
• No. 4 – Georgetown, Texas
• No. 5 – Atascocita, Texas
• No. 6 – Pine Hills, Florida
• No. 7 – Elgin, Illinois
• No. 8 – Lehi, Utah
• No. 9 – Conroe, Texas
• No. 10 – Dale City, Virginia