DFW ECONOMY

Its little wonder that Dallas-Fort Worth is such an inviting place to live and why so many families are attracted to the area. The local economy is booming, with affordable median home prices and job growth second only to New York. The Metroplex is currently ranked as the #1 growth market in the U.S.

The strength and stability of the local DFW economy is based in its diversity. The area is home to a wide range of industries, from transportation, technology, trade, aviation, oil and gas and advanced services, providing startup and relocating companies with a favorable business environment where they can flourish and prosper.


Affordability


DFW & Houston Rank As The Most Affordable Housing Markets of the 20 Largest U.S. Cities

Housing affordability means that most families in North Texas can afford a bigger, nicer house. A household income near $60,000 likely is able to afford the median priced new home in DFW.


Source: National Association of Homebuilders (July, 2007)

DFW’s Affordable Housing Means Future Growth PMI Mortgage Insurance Winter U.S. Market Risk Index (see #10 below)

Housing affordability is one of the major reasons companies and families relocate to North Texas.


Source: PMI Mortgage Insurance

Job Growth


Texas Leads The U.S. In Job Growth (LAUS)

Job growth is the most important market driver in creating housing demand. Texas created 218,600 jobs in 2007.


Source: Bureau of Labor Statistics

DFW Ranks As the #2 Job Growth Market in the US

DFW’s diverse and strong economy produced 65,800 new jobs in 2007.


Source: Bureau of Labor Statistics

Job Growth Is Steady In DFW

DFW has maintained a steady production of new jobs.


Source: Texas Workforce Commission (CES)

Low unemployment


Unemployment Is Low In DFW

The unemployment rate has steadily declined in DFW this decade. At year end 2007, the unemployment rate for DFW was a very low 4.2%.


Source: Texas Workforce Commission (LAUS)

Population Growth


Population Growth—DFW Is Now the 4th Largest Metropolitan Area In the United States

The D/FW area adds 370 residents every day. The Dallas/Fort Worth area has been consistently growing for decades because of its central location, outstanding airport, low cost of living, housing affordability, pro-business environment and temperate climate. The metroplex is the largest metro area in Texas and ranked #4 largest MSA in the nation at over 6 million in population


Source: Greater Dallas Chamber of Commerce

Population Growth — Near Term Outlook

Economy.com ranks DFW as the #1 growth market in the U.S. for 2006-2011 with over 630,000 estimated population growth


Source: Economy.com

Population Growth — Long Term Outlook (NCTCOG 2030 Forecast)

Forecasts put population growth at a little over 100,000 persons per year


Source: North Central Texas Council of Governments