The Dallas-Fort Worth area has experienced a significant real estate boom over the past few decades, according to a recent report from StorageCafe. The report highlights the region’s impressive growth across various sectors, including multifamily, single-family, industrial, office, and retail.
Dallas has emerged as a top contender, ranking fifth in real estate growth from 1980 to 2023. The city has added an impressive 237,000 multifamily units, trailing only New York, Los Angeles, and Houston. Meanwhile, Fort Worth has experienced a sharp increase in single-family home permits, outpacing all U.S. cities except Phoenix, Arizona, Houston, and Jacksonville, Florida. The report also notes that Dallas has added over 102 million square feet of industrial space in the past 50 years, ranking fourth among the nation’s top development hubs.
The region’s booming office development has been driven by sustained economic growth and a surge in corporate relocations. Since 1980, Dallas has added an impressive 88 million square feet of office space, while Fort Worth has contributed an additional 30 million square feet. However, the retail sector has faced a sharp decline, with both Dallas and Fort Worth experiencing a significant drop in retail deliveries due to the rise of e-commerce and shifting consumer behaviors.
The report suggests that Texas’ major cities, including Dallas and Fort Worth, are poised to continue dominating the real estate landscape, thanks to a combination of favorable economic conditions, consistent population influx, and a business-friendly environment that continues to attract investment and innovation.
