The Dallas-Fort Worth area is one of those places. There has been a steady climb in the Dallas job market, overall employment, and population growth in and around the city.
While some cities are floundering, Dallas seems to be primed for a boom in 2021 and coming out of the pandemic. Here are a few more details.
The population of the United State has been growing, overall. Between 2010 and 2019 the country has seen a 6.3% nationwide.
In that same time, the Dallas area has seen more than 12% growth. In fact, over the last 30 plus years, Dallas has regularly outpaced the population growth of the country.
Since 2010, 2 of the 4 fastest growing areas in the entire country (Frisco, TX and McKinney, TX) over that time are in the greater Dallas area
Dallas Job Market
With such a population boom often come worries about employment opportunities. Those worries have certainly been compounded in the last year as employment has suffered everywhere. But the Dallas economic indicators like employment are also showing growth.
Unemployment, specifically, beat the national rates in nearly every month of 2020 and was able to stabilize much faster than the national numbers.
The job market itself is growing, as well. While the number of jobs everywhere took a major hit in the spring of 2020, the Dallas job market has grown steadily each month since April of 2020.
In that time, the number of jobs has increased by nearly 10%, making it the biggest jobs increase in the Dallas job market over an 8 month period in the last 10 years.
The trends are clear. The Dallas area has come through the toughest economic hardships this pandemic could throw and has reached the other side.
Certainly, many across the country continue to struggle to get back onto their feet and in some areas, it is harder than others. But for those looking for a beacon of hope, Dallas is not a bad place to start that search.
The trends in population, employment, and job growth paint a promising picture for Dallas in 2021. For those looking to model their personal lives after the success Dallas has seen in recovery, it may be time to consider how investing during the pandemiccould set you up for a boom in 2021.
Dallas Is Worth Your Time (and Money)
Whether you are looking to relocate to a place primed for growth or interested in investing in that growth in other ways, the Dallas real estate market might be right for you. Whether it’s the Dallas job market or the influx of people, it looks like now is the right time to do it.
While the builders get back to work and making Dallas one of the fastest-growing cities in the country, you can get involved, too. Head over to our investment page to see how you can capitalize on the coming boom and get a Texas-sized piece of the pie for yourself.
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Patrick has 11 years of real estate experience and a portfolio of four holdings in Houston, TX.
In addition to his real estate experience, Patrick holds a Bachelor of Science in Mechanical Engineering from University of the Pacific, and a Master of Business Administration and a Master of Science in Engineering from San Jose State University.