Dallas-Ft. Worth, and North Texas in general, is top-of-the-list for Amazon’s HQ2, with good reason. Should the world’s biggest e-tailer decide on our region, providing homes for what is projected to be about 50,000 employees over a decade won’t be an issue, considering the number of new homes under construction and the fact that North Texas sells more residential homes than any other region of the country. According to news reports, the local home market wouldn’t suffer if it becomes necessary to provide new digs for about 5,000 or so new residents over a one-year time span.
As one of the top housing producing cities in the U.S., DFW can the load, according to Residential Strategies principal, Ted Wilson. In 2017, more than 30,000 homes were built by contractors in the area; approximately 35,000 apartments were completed by developers in North Texas. Affordability plays a role as well, and the Dallas-Ft. Worth area offers more affordable housing when compared to other cities on the list for Amazon’s HQ2.
If DFW is chosen, no doubt some who come into the area will be in the market for houses, while others will likely rent homes and apartments. In terms of pre-owned single family homes, our area has less expensive options for buyers, when compared to more than 50% of competing cities for the new HQ2, particularly those markets on the west and east coasts.
The median home cost in Amazon’s hometown of Seattle is currently just over $478,000, while the median cost in the DFW area is $250,000. Some of the companies who’ve relocated into the North Texas area in recent years include Boeing, State Farm Insurance and Toyota, creating demand for builders who have built thousands of new homes during this period.
Of the 18 U.S. cities, and Toronto, vying for Amazon’s HQ2, Dallas comes in sixth place in terms of single-family home resale prices, according to the National Association of Realtors, just behind Atlanta and Philadelphia.
The Dallas-Ft. Worth region is ideal for Amazon’s second headquarters, in our opinion – but we could possibly be just a little biased! The diverse culture, employment opportunities, affordable housing, and exceptional schools are just a few of the reasons we believe so many people (and companies) flock to North Texas every year. If you’re in the market for a home, count on the DFW real estate professionals at Team Nelson.