It's official: Graceland is USA's latest summer hit.

The network announced this morning that it has renewed the drama for a second season, as the series that follows a group of undercover agents living under the same roof has averaged 4.3 million viewers over its initial run, with 1.8 million of those in the coveted 18-49-year old demographic.

"We're proud to be the home of one of the summer's top new cable dramas and we anticipate Graceland will be a long-term player for the network," said USA co-presidents Jeff Wachtel and Chris McCumber in a statement. “Graceland’s brilliant serialized storytelling mixed with striking cinematography and a captivating ensemble cast has clearly resonated with a wide audience. [We] anticipate Graceland will be a long-term player for the network.”

Graceland, which was created by Jeff Eastin, will wrap up Season 1 this Thursday, following the series finale of Burn Notice.

White Collar Season 5, also from the mind of Eastin, will then premiere on October 17.

Matt Richenthal is the Editor in Chief of TV Fanatic. Follow him on Twitter and on Google+.