About the Georgetown Housing Market
This suburb right outside of Texas’ capital takes the top spot for the fastest-growing city in the country. Its beautiful town square, scenic views of the San Gabriel River and proximity to Austin make Georgetown attractive to visitors and new residents alike. Some of the town’s attractions include its Annual Red Poppy Festival, the Georgetown Art Center, Lake Georgetown and the Inner Space Cavern.
Georgetown’s population increased by 10.5% from July 2020 – July 2021. At that rate, Georgetown’s population could double in less than 7 years. With such fast growth, the median home sale price in Georgetown has increased exponentially in the past year. According to the US Census Bureau, Georgetown’s population grew from around 47,000 in 2010 to over 85,000 in 2020. This represents a growth rate of over 80% in just 10 years.
With plenty of fun things to do around town, Georgetown also boasts good job opportunities, quality community amenities and safe, friendly neighborhoods. Major employers in the area are a part of the manufacturing, health care, education and transportation industries. The Georgetown Independent School District has a 95.5% graduation rate, which is 5% above the state’s average.
Median Household Income: $77,188
Metro Population: 73,110
11-Year Population Growth: 82.9%
Median Home Price: $500,000
Median Rent Per Month: $1,697
1-Year Equity Growth: -9% (Due to rising interest rates)
8-Year Equity Growth : 155%
1-Year Rent Growth: 4.4%
8-Year Rent Growth (January 2014 – December 2022): 20%
Job Growth: +2,800 CES jobs created over the last year
1-Year Job Growth Rate: 8% (60% higher than the national average)
Unemployment Rate: 4.2% (16% lower than the national average)
Tenant Laws: Landlord-Friendly
What to Like
Affordable housing
Safe community
Excellent schools
Beautiful scenery
What to Watch Out For
Smaller job market
Limited night life
Traffic congestion
– Georgetown is located just 30 miles from Austin, making it a great place to live if you want to be close to the city but also have a more relaxed pace of life.
– Georgetown is a fast-growing city, which means there are plenty of job opportunities and new businesses opening up all the time. This also means that the city is constantly evolving and there’s always something new to see and do.
– Georgetown is a close-knit community with a strong sense of civic pride. There are many opportunities to get involved in the community, through volunteering, attending local events, or simply getting to know your neighbors.
– Georgetown is also experiencing significant growth in its business sector, with many companies choosing to locate in the city. This has led to an increase in job opportunities and economic development.
– The city is investing in infrastructure improvements to support its growth, including expanding its transportation network and improving water and wastewater infrastructure.
Steady population increase
Georgetown’s growth is being driven by its attractive quality of life, strong economy, and proximity to Austin. While this growth presents some challenges, such as the need for new infrastructure and housing, it also offers many opportunities for residents and businesses alike.
Quality of life
Georgetown has a very low crime rate, making it one of the safest cities in Texas. According to the FBI, Georgetown’s violent crime rate is about half the national average, and its property crime rate is even lower. Georgetown has a mild climate, with hot summers and mild winters. The average temperature in January is 52 degrees Fahrenheit, and the average temperature in July is 94 degrees Fahrenheit.
Steady home price appreciation
The demand for housing has increased along with the city’s population growth, and new residential developments are being built to accommodate this demand. Home prices have also risen, with the median home value in Georgetown increasing from around $200,000 in 2010 to over $360,000 in 2021.
Purchasing Property in Georgetown
Georgetown ISD is one of the best school districts in Texas. The district has consistently received high marks from state and national organizations, and its schools are consistently ranked among the best in the state.
Georgetown is surrounded by natural beauty, including Lake Georgetown, the San Gabriel River, and the Hill Country. There are plenty of opportunities to enjoy the outdoors, whether you’re hiking, biking, fishing, or swimming.
Georgetown is a relatively affordable city, especially compared to other major cities in Texas. The median home price in Georgetown is around $242,500, which is significantly lower than the median home price in Austin ($525,000).
Georgetown, Texas
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