SmartAsset study identifies top U.S. boomtowns

A study by SmartAsset analyzing over 400 U.S. cities with populations of at least 65,000 has identified 75 ‘boomtowns’ experiencing rapid economic expansion. The ranking is based on a composite score of five-year changes in economic output, housing units, and labor force size.

Florida leads the nation with 19 boomtowns, followed closely by Texas with 18. Georgetown, Texas, holds the top rank, followed by New Braunfels, Texas. Both Central Texas cities reported five-year increases of over 30% in both housing units and labor force size.

Lehi, Utah, ranks third, driven by significant population growth and the presence of major employers such as Adobe, Microsoft, and Texas Instruments. In the Northeast, Portland, Maine, is the sole representative on the list, with growth attributed to investments in biotechnology and artificial intelligence.