About the Dallas Housing Market
Dallas is a great place to invest in real estate because it continues to attract jobs and business. In fact, between July 2021 and July 2022, Dallas created 276,799 new jobs at a growth rate of 7.17%, 87% higher than the national average. Between July 2021 and July 2022, Dallas created 276,799 new jobs—an increase of 7.17%—87% higher than the national average.
The Dallas real estate market is one that continues to show rapid growth. It has been one of the fastest-growing markets in the country since 2012, and it has consistently remained one of the most competitive markets in the US. Over the past 8 years, Dallas-area home prices have risen by 122.39 percent at an annual rate of 12.1 percent. Home values in certain Dallas–Fort Worth neighborhoods have increased 270% in the past decade as more people look to settle down in North Texas.
Texas is known for its business-friendly environment, with low taxes and regulations that make it attractive to companies looking to relocate or expand. This has led to the creation of many new jobs and businesses in the Dallas area.
Median Household Income: $75,975
Metro Population: 7.76 Million
11-Year Population Growth: 21.39%
Median Home Price: $377,991
Median Rent Per Month: $1,770.7 (0.47% rent-to-value ratio)
1-Year Equity Growth: 21.2%
8-Year Equity Growth (January 2014 – December 2022): 122%
1-Year Rent Growth: 12%
8-Year Rent Growth (January 2014 – December 2022): 42%
Job Growth: +276,799 CES jobs created over the last year
1-Year Job Growth Rate: 7.17% (87% higher than the national average)
Unemployment Rate: 3.5% (5.7% lower than the national average)
Tenant Laws: Landlord-Friendly
What to Like
Strong economy
No state income tax
Lower cost of living
Diversity
Things to do
What to Watch Out For
Summer heat
Lack of public transportation
Traffic congestion
Tornadoes, hail, flooding
– Dallas has experienced steady population growth for years—which has pushed prices of Dallas investment properties higher as builders have been unable to keep up with demand.
– Dallas has a diverse economy with many thriving industries, including technology, healthcare, finance, and energy. This has led to a strong job market and low unemployment rates, which in turn have attracted many new residents to the area.
– The Dallas real estate market is one of the strongest in the country. Home values have gone up 21% over the past year and 122% over the past eight years.
– In the past decade, Dallas has become one of the fastest-growing areas in the country because of its popularity as a job hub.
– The median home value in Dallas, Texas is $377,991. This is 10% higher than the average US home price. The median rent price in Dallas is $1,795. This is 10% lower than the average US monthly rent.
Steady population increase
The population of the Dallas-Fort Worth area has increased by over 21% since 2010, growing from 6th place to 4th place among major U.S. metro areas. The area’s population growth rate is almost 200% faster than the national average. The Dallas-Fort Worth area could see the biggest population surge in the country this decade, with an increase of nearly 18% forecast between 2020 and 2029.
Quality of life
Dallas offers a high quality of life, with many cultural and recreational opportunities, including world-class museums, parks, and sports teams. Dallas has a relatively low cost of living compared to other major metropolitan areas, with affordable housing, food, and transportation costs.
Steady home price appreciation
Over the past eight years, the average home price in Dallas has increased 12.1% per year on average. This high appreciation rate is due to low housing supply relative to demand.
Purchasing Property in Dallas
The largest employers in the region include American Airlines, Dallas ISD (the second-largest school district in Texas), Texas Health Resources (a hospital chain), Bank of America (the largest bank in Texas), Baylor Scott & White (a hospital chain), and Lockheed Martin Aeronautics.
The Dallas metro area is home to several of the fastest-growing cities in Texas. Among them are Wylie in Collin County, Frisco in Collin and Denton Counties, Burleson in Johnson and Tarrant Counties and McKinney in Collin County.
The 10 neighborhoods in Dallas that have seen the greatest increase in home values since 2000 are: Pleasant Grove, Wynnewood North, Rylie West, Government District, Rylie South, Convention Center District, West Texas, Pleasant Grove East, S Westmoreland Rd, and City Center District.
Dallas, Texas
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