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Geographic
Dallas makes up one-fifth of the much larger urbanized area known as the Dallas–Fort Worth Metro-plex, in which one-quarter of all Texans live.
Dallas has a humid subtropical climate, though it is located in a region that also tends to receive warm, dry winds from the north and west in the summer, bringing temperatures well over 100 °F (38 °C) at times. Winters in Dallas are generally mild to warm, with normal daytime highs ranging from 55 °F (13 °C) to 70 °F (21 °C).
Dallas is home to teams in all four major sports: the Dallas Cowboys (National Football League), Dallas Mavericks (National Basketball Association), Texas Rangers (Major League Baseball), and Dallas Stars (National Hockey League).
Transport
Dallas is at the confluence of four major interstate highways—Interstates 20, 30, 35E, and 45.
Dallas Area Rapid Transit (DART) is the Dallas-area public transportation authority, providing rail, buses and HOV lanes to commuters.
Dallas/Fort Worth International Airport is the 3rd busiest airport in the world (aircraft movement) and 7th busiest for passenger numbers. It covers almost 30 square miles, employs 60,000 ‘on-airport’ staff and is responsible for 305,000 full-time jobs. DFW airport is larger than Manhattan!
Education
Dallas is a center of education for much of the south central United States. In addition to those located in the city, the surrounding area also contains a number of universities, colleges, trade schools, and other educational institutions.
- § Population Growth
- § The Dallas-Fort Worth Metro-plex is the fastest growing metropolitan area in the U.S. with 6.8 million residents.
- § 6.5 million new residents expected in next decade, totaling 13.3 million.
- § Texas has become a retirement destination because of tax incentives.
- § 1 in 8 Americans now live in Texas, population increase in Texas is the highest in US history, more than the immigration to New York in the 1930’s.
Job Growth/Job Creation
- § More than 1.2 million jobs have been created in the past five years.
- § The unemployment rate in Texas is 8%, well below the national average. July 2011, USA today
- § From June 2009 to June 2011 the state added 262,000 new jobs, or half the USA’s 524,000 payroll gains. Federal Reserve Bank of Dallas and the Bureau of Labor Statistics.
Cost of Living
- § After monthly living expenses the average family has $72,000 in disposable income annually.
- § No state income tax.
- § Dallas ranks 2nd in the nation for lowest cost of living index.
Market Motivators
- § Texas has the 2nd largest economy in the U.S. and the 12th largest in the world.
- § Texas is the 5th largest producer of oil and gas in the world.
- § Future Boom Towns “Dallas ranks No. 7” July 2011, Forbes
- § Texas is the No. 1 exporting state in the U.S.
- § The Texas region’s consumer confidence index is up 23.5 % from its level one year ago.
Corporate Environment
- § No Individual or Corporate State Income Tax
- § Texas is encouraging corporations to relocate with corporate tax incentives and land deeds.
- § More Fortune 500 companies, regional and corporate head quarters are located in Texas, than any other state in the U.S.
- § “Dallas is emerging as the ideal place for corporate relocation” July 2011, Forbes
- § Tort Reform/Cap on Malpractice suits again physicians.
Corporate Headquarters
- § Exxon Mobil (Oil & Gas)
- § AT&T (Telecommunications/Technology)
- § American Airlines (Transportation)
- § Cadbury/Schweppes (Consumer Goods)
- § Research In Motion, Blackberry (Mobile Telecom)
- § Siemens (Technology)
- § JC Penney (Retail)
- § Texas Instruments (Technology)
- § Kimberly-Clark (Consumer Goods)
- § D.R. Horton (Home Builder / Construction)
- § Electronic Data Systems (Technology)
WHY NOW?
Rental Property Boom
- § Rental houses sold on average of 34 days vs. 55 in February 2011. CBSDFW News
- § Median rental prices climbed from $1,200 to $1,350. CBSDFW News
- § More individuals are renting vs. buying due to foreclosures and relocating to Dallas, while still owning a home in another state.
- § 53% of the Dallas – Fort Worth population rents vs. the national average of 32%.
Why is Dallas such a Good Market to Invest in?
- § Population Growth – Increasing or Decreasing? Dallas is Increasing more than any other this year expects 1,069,000 new residents and an additional 6.5 Mil in next ten years.
- § Cost of Living (CLI index) – the lower the better. Dallas is 28% 2nd lowest in U.S.
- § Job Growth and Creation of Jobs (increasing or decreasing?) again Dallas leads the nation in Job Growth and Creation.
- § Property Values – Is Real Estate Appreciating or still Depreciating? (Dallas is appreciating)
- § Market Motivators – What is driving the market? (low supply and high demand)
- § Median home price – Dallas average home prices went from 137,000 to $150,100 last year.
Property Values are Increasing Quickly
- § Dallas has seen a 12% increase in average home prices in the last 12 months. Northern Dallas Properties have seen a 31% increase in sales prices over the past 12 months
- § Home prices are expected to increase 30 to 50% in the next 24 months.
Inventory Rapidly Decreasing
- § Stable market is considered to have 6 months of inventory, Dallas currently has less than 4 months (under supply of good family homes in desirable suburbs).
- § Average days on market for under $200k is 32 days.
Foreclosure inventory of quality homes in good neighbourhoods is being swiftly exhausted.
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Why Savvy Real Estate Investors are Buying in Dallas Now
Dallas has long been one of the largest and most stable real estate markets and employment centers in the U.S. It is now in a particularly unique moment where both job and population growth are topping any other large metro area in the U.S. This means demand is currently outpacing supply and home prices are shooting up.
Importantly though, the average median home price in Dallas is about 20% below the national average. This means not only are you buying in the path of growth…..but you are buying in a market where homes prices can continue to increase and still be affordable to the residents who live there. This is a unique moment in the property cycle for savvy investors to get into one of the nation’s marquee real estate markets.
QUICK FACTS
City:
Dallas (city)
County:
Collin, Dallas, Denton, Kaufman and Rockwall Counties
State:
Texas
Population count 2011 est.
1,223,229
Population , percent change, April 1, 2010 to July 1, 2011
2.1%
People 65 and over, 2010
8.8%
Mean travel time to work (minutes), 2007-2011
25.1
Housing units, 2010
516,639
Homeownership rate, 2007-2011
45.2%
Housing units in multi-unit structures, 2007-2011
49.5%
Median value of owner-occupied housing units, 2007-2011
$129,600
Households, 2007-2011
452,487
Persons per household, 2007-2011
2.60
Median household income, 2007-2011
$42,259
Total number of firms, 2007
121,288
Land area in square miles, 2010
340.52
Persons per square mile, 2010
3,517.6