TOWSON, Md. — Michael Phelps was honored by his hometown today with a parade attended by thousands eager to pay homage to the record-setting Olympian.

Phelps was the focal point of the "Parade of Gold", which served as a homecoming for Maryland's Olympic heroes, most notably the swimmer who won a record-setting eight gold medals at the Beijing Games this summer.

An estimated 5,000 people attended the event, according to Baltimore County police.

Wearing sunglasses, jeans, a T-shirt and a brightly colored jacket, Phelps waved to admiring fans from within an open-air military vehicle on a gorgeous autumn afternoon. Those in attendance waited months to show their affection for the Baltimore native, whose haul in China raised to 14 his career gold medals.

Lining the 1›-mile route, many onlookers held red, white, and blue signs. Participants in the parade passed under large American flag strung between the ladders of two fire trucks.

Caroline Dill, 13, was in position with four friends more than three hours before the parade began.

"He's an amazing person because he won eight gold medals and beat Mark Spitz's record," Dill said of Phelps. "Plus, he's from here."

The parade also honored swimmer Katie Hoff, who won three medals at Beijing Games, and Special Olympians and Paralympians.

The city staged a parade for Phelps after the 2004 Games, but arranged a two-pronged affair in anticipation of far bigger crowds this time around.

After the parade, Phelps was to be ushered to historic Fort McHenry for a "Star-Spangled Salute," featuring several local dignitaries, music and fireworks.