Georgetown, Texas, stands out as the fastest-growing city in the United States, a feat largely driven by its senior residents. Sun City Texas, an expansive planned community spanning 5,421 acres, has become a haven for those 55 and older, infusing the city with vibrancy and economic strength.
Sun City Texas is more than just a residential area; it’s a bustling community with pools, fitness centers, and pickleball courts. The median age in this enclave is 73, with residents like Suzanne Herndon, 70, who moved in 2021, declaring, “We’re not dead yet.”
Georgetown Mayor Josh Schroeder appreciates the economic boost these active seniors bring. “It’s like they’re at college except they don’t have to go to class and they have $3 million in the bank,” he said. This influx of affluent retirees has significantly bolstered the local economy, with Georgetown’s operating budget and rainy-day fund seeing substantial growth.
Sun City’s residents contribute to a thriving local economy. They patronize local stores, restaurants, hospitals, and health clinics, creating hundreds of jobs annually. Currently, about 17,000 of Georgetown’s 96,000 residents live in Sun City.
This growth reflects a broader national trend. Americans aged 55 and over now control nearly 70% of U.S. household wealth, a significant increase from 50% in 1989, according to the Federal Reserve. They also account for 45% of U.S. personal spending, up from 29% three decades ago, reports Moody’s Analytics.
Georgetown’s rapid expansion is not solely attributed to Sun City’s seniors. The city benefits from its proximity to Austin, a tech hub experiencing rapid growth. However, the senior population’s economic impact is undeniable. Their wealth, accumulated over decades, allows for a lifestyle rich in leisure activities like golf, concerts, and brunch, further stimulating local businesses.
PulteGroup, the developer behind Sun City Texas, plans to complete the community with its 10,550th house by 2028. The median home price here has surged to about $495,000, with 55% of homes purchased with cash in 2023.
The trend of age-restricted communities is growing, especially in the South and West. Texas, Florida, Arizona, Georgia, and the Carolinas have seen significant increases in their senior populations, driven by lower taxes, favorable climates, and vibrant communities like Sun City.
“We have more fun than our daughter,” said Ottavio Arena, 72, who moved from New York to Sun City last year. In sum, Sun City Texas exemplifies how an active senior population can transform a city into an economic powerhouse, driving growth, creating jobs, and fostering a lively community spirit.
