Dallas ranks No. 5 hottest market for real estate development in last decade
A new report has discovered Texas cities hold the top five most active real estate development markets in the country, with Dallas landing in the top five.
Dallas had the fifth highest number of single-family home permits between 2013 and 2022, totaling 17,332 units. At the same time, the city also permitted nearly 69,000 new multi-family/apartment units. The massive influx of housing ultimately adds up to an impressive national surge.
On the industrial end, Dallas also took the No. 5 spot for the most square feet of new industrial space construction. About 31.4 million square feet of industrial space was erected in the last decade, further solidifying the city's standing as a top destination for business.
The report attributes Dallas' success in growing its industrial sector to "a number of innovative companies establishing headquarters or offices in the area" within recent years during the pandemic.
Also on the rise since the pandemic is the number of build-to-rent single-family homes, where the Dallas market recently nailed the top spot for the most completions in 2022.
The true national winner in real estate growth is Houston(No. 1), with 55,600 single-family homes permitted between 2013 and 2022, and nearly 90,000 multi-family units, followed by San Antonio (No. 2) and Austin (No. 3). Also outshining Dallas in the list is Fort Worth (No. 4), which permitted nearly 50,600 single-family homes and 36,700 multi-family units.
The cities that complete the top 10 include:
- No. 6 – Phoenix, Arizona
- No. 7 – Jacksonville, Florida
- No. 8 – Las Vegas, Nevada
- No. 9 – Denver, Colorado
- No. 10 – Oklahoma City, Oklahoma