The three keys to a growing area – housing, job and population increases are on the rise in Dallas and its surrounding suburbs; continuing to make it one of the fastest growing cities in 2018.
Starting with the Texas population which topped the charts as the number one state experiencing numeric growth year over year from 2016 to 2017 in study conducted by the U.S. Census Bureau with Dallas as the number one location; it’s no wonder this city is growing in popularity for 2018.
The southwestern state has had some of its top city and suburb areas named among the most popular places to live in the US. Dallas’ neighboring city of Allen lands itself as the second most popular place to live in 2017 – an area experiencing high volume economic growth and a place where young, affluent buyers are going for their housing purchases.
With buyers migrating to the Dallas area and housing purchases on rise, another noteworthy title falls in the hands of this lonestar city; taking the number two spot for housing appreciation in the nation for 2017.
But growing isn’t all that this new-age city offers. With an ability to accommodate a diverse range of generations, cultures and families through its widespread landscapes, vast commercial offerings and urbanization; adds an appeal that has positioned Dallas for this growing popularity.
So how have these three keys to city growth begun to take shape in Dallas?
Housing and population increases go hand in hand in this city’s case as younger generations become the majority in the home buyers’ market. With recognition as one of the top places to live in 2018 coming directly from their evolving demands on urbanized suburban areas and wide spread amenities; Dallas has honed into what matters most to Gen Y’s who are looking to put down roots.
No longer is the overly congested city lifestyle and its limited housing market on the wishlist for these younger buyers who seek convenience, accessibility and affordability as the top requirements for their choice living situation. What this breaks down to is an evolving generation’s desire to be located in an area that offers the continued expansion that Dallas does so well.
This leaves us with the promise of growing job opportunities in the popular city which has been recognized as a hub for tech startups and other young businesses who are doing their best to get legs, and recruit talent in this city. Taking the city of Allen again for example, this Dallas suburb reported economic development of 1.6 billion in 2017 alone, enabling hundreds of new jobs with a projected growth of 17.6% in the next year. With Allen’s population amongst the best and brightest in the US, where nearly 97% graduate high-school and majority goes onto college; not only do these younger markets have incentive to make the Dallas area their home – but also the businesses that employ them.
Higher value job opportunities, increasing home appreciation and well-educated population growth is a recipe for success in any city; and looks to be the sustainable future for Dallas. However as we make our way into 2018 we will have to watch how the predictions of Dallas as one of the most popular cities to live in comes full circle. Though one thing is for certain, this state will continue to do what it does best – that is to grow bigger where it matters the most.