DALLAS — Housing construction in Dallas’ suburbs far exceeded home and apartment building in the urban core over the last decade, and there are no signs of that trend reversing.
That’s according to a new study by Zillow, which analyzed several housing market dynamics nationwide, including urban-suburban growth patterns, the ratio of new jobs to housing units constructed, housing affordability and more.
From 2010-2020 the Dallas-Fort Worth metro area added 438,000 new housing units, increasing the housing stock by 18%. Dallas's growth in new housing ranks No. 9 fastest among the nation’s 100 largest metros, Zillow’s stats show.
Over the same period, Dallas added 802,000 new jobs, an increase of 29%. A healthy housing market should add a new housing unit for every 1-2 new jobs as the local economy grows, according to the Zillow report and industry rule of thumb.
In Dallas-Fort Worth, 1.8 jobs have been added for every new housing unit, indicating that the area is building enough new housing to keep pace with demand, according to Zillow, although many realtors, homebuilders, and would-be buyers argue that’s not the case, at least right now.
To hear more from real estate experts on how the lack of inventory in North Texas has maxed out the housing market’s capacity, click here.