Olive Branch named Mississippi’s top ‘Boomtown’ amid rapid economic and population surge

OLIVE BRANCH, Miss. — For those looking to make a strategic move that benefits both lifestyle and finances, a new study suggests all eyes should be on DeSoto County. Olive Branch has been officially designated as Mississippi’s number one “boomtown,” leading the state in significant population growth and economic prosperity over the last decade.

The ranking comes from a new analysis by personal finance resource GOBankingRates, which examined cities across the United States with populations between 25,000 and 500,000. By utilizing data from the U.S. Census American Community Survey, the study identified the single city in each state that experienced the most explosive growth between 2015 and 2023.

A Decade of Rapid Growth

Olive Branch has undergone a remarkable transformation, outpacing other municipalities in the Magnolia State. According to the study, the city saw its total population climb to 46,538 in 2023, representing a staggering 32.9 percent increase since 2015.

However, the “boomtown” label isn’t just about the number of new neighbors; it is equally about financial upward mobility. During that same eight-year period, the per capita income in Olive Branch jumped by 46.7 percent, reaching $40,626 in 2023.

High Income, Low Cost of Living

What makes Olive Branch particularly attractive to prospective residents is the balance between high earning potential and affordability. While the city is experiencing a surge in wealth—boasting a robust median household income of $93,762—it remains more affordable than the national average.

The study highlights an attractive cost-of-living index for Olive Branch at 91.7, indicating that living expenses here are roughly 8% lower than the U.S. average.

• Average Monthly Cost of Living: $3,768
• Average Monthly Mortgage: $1,849

The National “Boomtown” Trend

Olive Branch’s success mirrors a larger trend across the Southern United States, where communities are seeing rapid expansion. While Fulshear, Texas, took the top spot nationally with a massive 736 percent population increase, Olive Branch stands out as a regional economic powerhouse.

“Boom towns, for those unfamiliar with the term, are towns and communities that undergo sudden growth,” the GOBankingRates report stated. “If business is booming, the rich are likely eyeing the area as a place to keep building their wealth.”

For families and professionals considering a relocation to Mississippi, the data points to Olive Branch not just as a growing suburb, but as a financially sound investment for the future.