The City of Prosperity
Discover Dallas's Real Estate
A city located in north-central Texas and lies along the coastline of the Trinity River. It got its name from one of the early Joseph Dallas and has since become an iconic city. Dallas is renowned for its commercial and artistic thinking, novel ideas, and success stories. The city offers a good standard of living, a favorable business environment, and affordable housing for residents and investors.
Culture, History, and Business
The landmass of Dallas spans over 343 square miles, and it is essentially an inland city. It houses the Dallas-Fort Worth, which is the fourth largest metropolis in the country. Dallas has a fast-growing population. As it relates to infrastructure and urban revitalization. The Trinity River flows down from the west side and separates the city from Oak Cliff City. The city has a lot of man-made lakes with about 60 of them within a 100 miles radius.
Dallas has a booming real estate industry and an unemployment rate of 3.6%. Dallas is known to be a city of prosperity, and over 60% of its workforce are Asians, blacks, and Latinos. In 2019, the Dallas job market witnessed a 3.3% increase. Also, predictions indicate the job market will increase by 45.1% in the next ten years. This figure exceeds the United States average of 33.5%. The median household income in Dallas is $43,359.
Real Estate Appeal
Most Dallas residents prefer to opt for home-ownership. More than 500,000 households own their homes. This accounts for about 44% of the homes. In Dallas, the most expensive home is the Crespi Estate, which spans over 25 acres. The house is worth about $36.2 million.
The property prices in the city have been increasing steadily, and it is expected to rise higher by the end of 2020. The median home value in the city was about $213,000 as of October 2019. The current median price is about $225,000. Also, the city has a regular supply of houses to suit the demand of the residents. Dallas has a high vacancy rate, which means you can buy choice properties at a fair rate in the city.
There are diverse housing options in the city. You could purchase properties ranging from half-acre houses to one-quarter houses. You could also find elegant mansions built in Fort Worth as well as renovated vintage bungalows built in the 20’s.
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