Yahoo Finance This Is the Biggest Boomer Hot Spot of 2024 — and It’s Not in Florida
There are pickleball courts, fitness centers, and an annual Mardi Gras ball. But, this isn’t a college campus. It’s a 55+ retirement community called Sun City Texas.
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Nestled in the town of Georgetown, this planned community has attracted thousands of retirees who want to stay active, drive golf carts, and feel like they belong to a community.
The Wall Street Journal reported that Georgetown “has now been the No. 1 city for population growth for three years in a row.” With so many different clubs, sports, fitness classes, and pools, it’s no wonder Boomers love spending their retirement years here.
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Economic Impact
Sun City residents are typically affluent, with a median age of 73, which means the influx of residents has had a positive economic impact on the city of Georgetown as a whole.
It’s a symbiotic relationship. Georgetown places a cap on property taxes for residents over 65. In return, those residents spend in the town and on real estate. In fact, nearly 55% of Sun City residents paid cash for their homes in 2023.
The city of Georgetown is growing rapidly, not only because of Sun City residents but also because Austin, which is nearby, continues to expand. Already, the median housing price in Sun City is nearly $500,000, up from just over $350,000 in 2019.
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It’s Not Florida, But It’s Home
Whenever you think of a community of retirees enjoying the sun, Florida comes to mind. But, the growth of Sun City shows that thousands are flocking to Texas instead.
Residents report having busy lives filled with fun activities, exercise, and clubs. There are also people from many different geographic regions. For example, there’s a club of New Yorkers that meets regularly to eat Italian cookies.
All in all, communities like Sun City seem to be a positive economic addition to small towns and also add joy to many people’s retirement lifestyles.
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This article originally appeared on GOBankingRates.com: This Is the Biggest Boomer Hot Spot of 2024 — and It’s Not in Florida
