Dallas’ Slips to No. 5 on PwC’s Real Estate Investment List, But Don’t Count Us Out
Dallas still has the “secret sauce” even as our ranking on PwC’s real estate investment list slips three spots this year. Experts say it’s not from our city’s lack of performance in the commercial real estate sectors; but rather, other cities have stepped up. The list’s other four top contenders are Seattle, Austin, Salt Lake City and Raleigh/Durham.
So, what do all of these cities have in common to make them top the list? Here’s a quick breakdown:
- High net migration of 15- to 34-year olds
- Large job growth
- Low cost of living
- Low cost of doing business
- Proximity to higher education hubs
We know Dallas has all of the above but what other facts make our city great?
- DFW is 6% below the national average in cost of business
- Rent as a percentage of income per household is 19.6% (vs. national average of 26.6%)
- Diversity of employment and a unique mix of business realms
- Retail supply growth has been strong particularly in the suburbs and Fort Worth
- Industrial is on the rise
- Job growth in our area is 2.5% compared to the national average of 1.3%
- Nearly 88,000 people are expected to move to Dallas in the next five years