DALLAS, TX / ACCESSWIRE / August 6, 2018 / Development in the Northern Texas region is booming in businesses, workforce, construction and roadways - and it is all connected. From a spike in population, the Dallas-Fort Worth area has been building out its vast network of city and suburb communities.
Shaping more like an urban city in recent years, the metroplex has been the focus of national growth. Bringing together a collective group of thriving companies and residential communities, the region is making its way towards being one of the top city locations in the country.
As the interest continues to grow from new residents and organizations that want to share in the benefits, the metroplex is changing and shaping to become an urban city.
As these changes take place, the region's housing industry has given a clear indicator that North Texas is seeing an increase in activity and demand to both its residents and developers. Marcus Hiles, CEO and founder of Dallas-Fort Worth's Western Rim Properties shares, ''Housing in both the homeowner and renters' communities in Texas is changing and setting a new trend that is spreading from the city into its surrounding suburbs.'' The change we are seeing is moving to support the record-breaking larger numbers of populations flocking to the state.
Generational and demographic changes, shifting employment opportunities and fluctuations in the economy and housing market have all played a role in this growth and has in turn turned home buyers into renters nationally.
As the Dallas Business Journal shares, there is a dip in today's home buying market and new renters are moving in. A report by the Census Bureau analyzed housing data and found that between 2006 and 2016 the number of households renting their homes rose from 31%of to 36.6%. Apartments are also another area that are rising to keep up with new rental demands. As younger demographics have become one of the largest groups in today's market, generational differences for has had its own impact. ''Drawn to more city areas, smaller apartments are popping up across Dallas - a change that puts Dallas more in line with other major metros as most urban areas around the country focus on one-bedroom and studio apartments.'' adds Marcus who has continued expanding his over 20,000 rental properties throughout Dallas in 2018. By appealing to single millennials and helping to balance out high location costs in dense neighborhoods, it also benefits developers. Building smaller units means Texas developers can get more per square foot rent while residents pay less for their units. This is something that is becoming more important as interest continues to draw more to the Northern Texas city.
More than just the area changing and its continued growth, the groups of today's buyers and renters, availability for housing and trends in new construction development is helping shape Dallas into becoming a more urban city in the next few years.
Learn more about the Dallas-Fort Worth rental marketing marcushiles-news.com
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SOURCE: Marcus Hiles