Culture, History, and Business
The city is 170 years old and was formed as an army outpost at the time. Established in 1849, it has been a historical center of the longhorn cattle trade.
The economy of Fort Worth is rising up and showing good signs of growth from the last couple of years. The job market has seen a hike of 2.7% annually over the last two years. The growth of the jobs in the next decade is estimated to be booming up to 41.5%. The regional triangle of Dallas/Ft. Worth/Arlington, in recent years, has a combined Gross Domestic Product of $504.36 billion.
A person living in Fort Worth has an average income of $24,700 annually. The median income of a household of a resident is $52,000.
The city’s cost of living is well improved. Food and grocery have a rate of 7% lower compared to the national average. Also, the healthcare system is 2% lower compared to the national average. The real estate prices of the region are 5% lower than that of the country.
The number of residents with homeownership in this city is quite high. Almost 44% of the residents own a house in this city. Between 2009-2018, the property market in the city appreciated by 60.81%, with 2018 alone witnessing an appreciation rate of 7.37%. More positive appreciations are predicted as a new decade approach. The prices of houses here in the city are rising day by day with the growing population and it is best to invest at this time in the city. The greater city region, Dallas-Fort Worth, was ranked number one in the 2019 Emerging Trends in Real Estate report. Additionally, it was also placed first for the most prospective market in 2019 among 78 other cities
According to Mashvisor’s 2019 reports, the average sale price of a house here in Fort Worth is $313,000, while the median property price of the city is $292,822. The average period of sales property on the market is 25 days. Furthermore, the traditional rental income and Airbnb rental income are $1,638 and $2,665, respectively while their CoC returns are 1% and 4% respectively. Data from Zillow in 2019 shows that the median home value is $197,400. The value has gone up by 8.5% from 2018 and is expected to gain an additional 4.3% within 2020. For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.