Latest news with #PrincetonTX
Yahoo
23-05-2025
- Business
- Yahoo
This Is the Fastest-Growing Town in the U.S.—and It's Being Praised for Its Affordability
What was once a quiet, rural outpost in Texas is now one of the fastest-growing towns in the nation—and it's struggling to keep up with the influx of residents. In just a year, Princeton, TX, about 40 miles from Dallas, has seen its population skyrocket, sparking a construction boom and pushing local leaders into overdrive to manage the rapid pace of growth. 'While Texas cities have been leading in population growth, Princeton's rapid ascent to the top spot was mostly unexpected,' the town's mayor, Eugene Escobar, tells Princeton's population grew 30.6% from July 2023 to July 2024, according to the latest data from the U.S. Census Bureau. This makes it the fastest-growing town in the nation with a population under 37,000. To put that growth in perspective, in 2020, the town had only 17,000 residents. In 2013, the area had only two traffic lights, Escobar adds. For new residents, Princeton's location adds to its appeal. 'Fast-growing Princeton offers buyers ample for-sale home options at a lower price tag than the nearby North Dallas suburbs and Dallas itself,' says Hannah Jones, senior economic research analyst at 'Buyers hoping to be on the north side of the Dallas metro can take advantage of low home prices in Princeton, without sacrificing access to the amenities and job opportunities in the ever-expanding greater Plano area.' With a median home list price of $337,000, Princeton is more affordable than the nearest large metro of Dallas ($437,000), but it also hits a lower price point than the neighboring towns of Allen ($549,700), McKinney ($550,000), Plano ($556,000), and Frisco ($727,000). Most homes for sale (96.1%) are single-family. There were 330 homes for sale in Princeton in April, up 72.9% year over year, and up from just 88 homes for sale in April 2019. Many of the listings are new construction with builders such as KB Home, DR Horton, and Starlight Homes (a subsidiary of Aston Woods) all creating new developments in recent years. Escobar credits the popularity of Princeton to its relative affordability, combined with its proximity to bigger cities with better job opportunities; nearby Lavon Lake, where many come to vacation; high-quality schools; and the area's 'small-town feel despite its growth.' The mayor says those moving in are mostly well-off, younger professionals. The city has a median household income of approximately $90,809, with a median age of 33.2 years—'indicating a youthful and economically active population.' 'Princeton is drawing a wide range of buyers,' Dallas-based , of Douglas Elliman, tells 'From young families priced out of Dallas' urban core to professionals seeking a lower cost of living without sacrificing access to job markets. We're also seeing buyers coming in from California, Illinois, and parts of the East Coast—markets where affordability and taxes have become pain points.' KB Home is one of many builders that have descended upon the once-sleepy town. It opened its 10-plan Princeton Estates there in 2024 and homes are still being built on site. 'Princeton is quickly emerging as one of the most desirable areas in Collin County, thanks to its highly rated schools, access to new jobs, and family-friendly atmosphere,' Marcia Dillon, president of KB Home's Dallas Division, tells Local real estate agent Jennifer Vokolek, of Re/Max DFW Associates, notes other reasons for the area's growth spurt: USDA financing (rural development); access to the new 402-acre EPIC Muslim community in unincorporated Collin and Hunt counties (which Gov. Greg Abbott opposes); and the large amount of new construction that can offer pricing incentives that older homes can't compete with. In fact, so many builders—and new residents—fell in love with Princeton that last year the town put a pause on new residential development to give time for infrastructure to catch up. 'The city is working on updating water and wastewater plans, improving road conditions, increasing public safety, and addressing development standards,' said the mayor's office of the construction pause (which does not affect commercial building). It also raised a $109 million bond program to benefit the city's parks. Despite the pause on new-home construction, the mayor noted that about 10,000 houses are in the pipeline. Still, there are signs things are slowing. The April 2025 median home list price was down 6.2% year over year, and houses are lingering longer on the market: 45 days, a 44% increase over last year. For example, a brand-new four-bedroom, 2.5-bath house (96% of listings are single-family) in the Princeton Estates built by KB Home has had its price slashed four times since February, from $387,259 to $357,444. (All four of the active Princeton Estates listings have seen price cuts.) Vokolek says the residential building moratorium pushed homebuyers into nearby towns Anna, Celina, and Melissa. Princeton isn't the only Texas town to see incredible growth. Other towns in the top 15 include Fulshear (26.9% increase in population); Celina (18.2%); Anna (14.6%); Fate (11.4%); Melissa (10%); and Hutto (9.4%). It's not only rural areas that saw growth. Big cities such as Houston, Fort Worth, San Antonio, Georgetown, and San Angelo also saw high population increases. In fact, almost all Texas cities with populations of 20,000 or more saw population increases from 2023 to 2024. Only nine areas in the Lone Star State lost residents, and the loss was less than 0.3% of their population. But it's not just cities in Texas experiencing a growth spurt. The Census Bureau lists plenty of other cities that saw significant growth in one year. Urban cores that had residents fleeing at the start of the COVID-19 pandemic are now seeing a reversal: New York City again tops the list of major cities adding residents, an increase of 87,184 from 2023 to 2024. Rounding out the top five gainers were: Houston (43,217), Los Angeles (31,276), San Antonio (23,945), and Fort Worth (23,442). Florida and Texas continue their major gains that started with the pandemic. Seven cities crossed the 100,000-population threshold, with five of them in those two states: Deltona, FL (population 100,513); Plantation, FL (100,694); Sunrise, FL (100,128); Georgetown, TX (101,344); and San Angelo, TX (100,159). Two others are in the West: Tracy, CA (100,136), and Federal Way, WA (100,252). 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Yahoo
17-05-2025
- Business
- Yahoo
Ranked: These are now the largest US cities, based on new Census data
The Brief According to new data, many Southern and Western cities led in population gains, but New York City remained the largest U.S. city with over 8.4 million residents. Princeton, TX was the fastest-growing city, expanding by nearly 31% in just one year. Seven cities crossed the 100,000 population mark, five of them in the South, highlighting continued regional growth. WASHINGTON - New data shows that cities across the United States have experienced renewed population growth from 2023 to 2024, with Southern and Western cities driving the largest gains, but the most populus U.S. cities, overall, have remained the same. The newly released estimates are from the U.S. Census Bureau's Vintage 2024 data. By the numbers The data showed that 12 of the 15 cities with the largest numeric population gains between 2023 and 2024 were located in the South or the West, but the Northeast's New York, New York still topped the list with an increase of 87,184 residents between 2023 and 2024. Rounding out the top five most populus cities were: Los Angeles, California; Chicago, Illinois; Houston, Texas and Phoenix, Arizona. See the full report here. Seven cities crossed the 100,000-population threshold, with five of them in the South: Deltona, Florida (100,513); Plantation, Florida (100,694); Sunrise, Florida (100,128); Georgetown, Texas (101,344); and San Angelo, Texas (100,159). The two others are in the West: Tracy, California (100,136), and Federal Way, Washington (100,252). Dig deeper Across the nation, cities with populations fewer than 5,000 grew by 0.3% on average, compared with average growth rates of 1.0% for those with populations of 5,000 to 9,999; 1.1% for those with populations of 10,000 to 49,999; and 1.0% for those with populations of 50,000 or more. Princeton city, Texas, a suburb of Dallas, was the fastest-growing city in 2024. Princeton increased its population by nearly one-third in just one year and has more than doubled it since 2020, from roughly 17,000 to 37,000. Washington, D.C. also added almost 15,000 residents in 2024, nearly doubling its population gain in 2023. RELATED: Here's where Gen Zers are buying homes – and it's not in LA or NYC Los Angeles, California, returned to the list of top gainers for the first time since 2016, adding over 31,000 residents in 2024, making it third among the nation's largest-gaining cities. Two cities crossed the 1 million-population threshold between 2023 and 2024 — Jacksonville, Florida (1,009,833), and Fort Worth, Texas (1,008,106). The Source The information for this story was provided by newly released estimates from the U.S. Census Bureau's 2024 data published on May 15, 2025. This story was reported from Los Angeles.
