Boomtown (noun)

A town or city that experiences sudden and rapid growth, especially as a result of the discovery of valuable resources.

Origin:

From boom (a sudden increase in economic activity) + town.

Examples:

1. The gold rush turned the small town into a booming boomtown.
2. The oil boom in Texas led to the development of many boomtowns.
3. The population of boomtowns can grow rapidly and unpredictably.
4. Many boomtowns were built on the back of the mining and natural resources industry.
5. The boomtown's sudden growth brought both prosperity and problems to the residents.