T
he small town of Princeton, Texas, has experienced a population surge of 30.6% in just one year, making it the fastest-growing town in the nation with a population under 37,000. Located about 40 miles from Dallas, Princeton's rapid growth has sparked a construction boom and put pressure on local leaders to manage the pace.
The town's mayor, Eugene Escobar, attributes its popularity to its relative affordability compared to nearby cities like Dallas and Plano, as well as its proximity to job opportunities and amenities. With a median home list price of $337,000, Princeton is more affordable than many neighboring towns, but still offers access to the greater Plano area.
New construction has been driving growth in Princeton, with builders like KB Home, DR Horton, and Starlight Homes creating new developments. The town's population has grown from 17,000 residents in 2020 to over 22,000 today, with a median age of 33.2 years and a median household income of approximately $90,809.
However, the rapid growth has also led to concerns about infrastructure and development standards. In response, the town put a pause on new residential construction last year to give time for infrastructure to catch up. Despite this, there are still over 10,000 houses in the pipeline.
While Princeton's growth shows no signs of slowing down, there are indications that the market may be cooling slightly. The median home list price has decreased by 6.2% year-over-year, and homes are lingering longer on the market. Some buyers have even been pushed into nearby towns like Anna, Celina, and Melissa.
Princeton's growth is part of a larger trend in Texas, where many cities saw significant population increases from 2023 to 2024. Other top-growing towns in Texas include Fulshear, Celina, Anna, Fate, Melissa, and Hutto. Big cities like Houston, Fort Worth, San Antonio, Georgetown, and San Angelo also saw high population growth.
Nationwide, cities that were previously losing residents due to the COVID-19 pandemic are now seeing a reversal, with New York City topping the list of major cities adding residents. Other cities experiencing significant growth include Los Angeles, San Antonio, Fort Worth, Houston, and Florida cities like Deltona, Plantation, Sunrise, and Georgetown.
