Why Dallas-Fort Worth Leads the Nation in New Apartment Growth Behind Only New York
Did you know that the Dallas-Fort Worth Metro has emerged as one of the top cities for apartment development, second only to New York? This impressive surge is a reflection of a number of economic and demographic factors, many of which are unique to the region. Let’s take a closer look at why DFW is now leading the nation in apartment growth.
1. Welcome to the Boomtown
Bill Clinton’s campaign adviser James Carville is often credited for suggesting, “It’s the economy, stupid,” and that’s our first point. Right now, the Dallas-Fort Worth metro is booming. DFW is host to a diverse and robust economy thanks to the presence of a number of Fortune 500 companies. According to Fortworthinc.com Dallas-Fort Worth has “collectively amplified its status as one of the nation’s leading economic powerhouses.”
The area’s historically celebrated school system also means that its citizenry is well-educated and able to step up and absorb high-paying jobs in technology, finance, healthcare, manufacturing and logistics. As employment opportunities continue to expand, so does the need for more housing. New rental apartments are ideal for attracting young professionals and newcomers to the area.
2. People Can’t Get Enough of a Good Thing
There’s clearly more than just the economy at play. DFW new apartment growth can also be attributed to a number of other exciting factors. To start with, the cost of living in Dallas-Fort Worth is relatively tame compared to equally sized or larger cities around the country. Rent, groceries and even the cost of gas are significantly lower than what you will find on the west or east coasts or even in nearby Austin, Texas. There are plenty of attractions that span across sweeping growing suburbs. Combine this with DFW’s ideal location and business-friendly environment and you have a city that can’t expand quickly enough.
3. Land and Culture Combine
Unlike older, well-established cities, DFW has ample land available for expansion. You will also find relatively fewer zoning restrictions. As a growing metro, city planners are happy to learn from the mistakes of other cities that grew too quickly.
This is why new apartment communities are being built alongside greener spaces. Parks, trails and lakes are almost always nearby. Five-star dining and shopping boutiques are just around the corner. Family-friendly festival events pop up almost every weekend. In DFW, an apartment isn’t just a place to go home and sleep. It’s a place to celebrate. It’s a place to love and live. That’s a big reason why Dallas-Fort Worth has become one of the top cities for apartment development.
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