Dallas Real Estate Market 2021

Dallas Real Estate Market Trends & Statistics 2021

In this section, you’ll learn about the top factors that make Dallas one of the strongest real estate markets today, including affordability, job growth, and population growth. Explore Dallas’ housing market, population, and employment trends in the following tabs to learn more.

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Data Sources:

• https://www.zillow.com/
• https://factfinder.census.gov/
• https://www.deptofnumbers.com/
• RealWealth Property Team Data

Dallas home values are more affordable than the national average today.

• In 2020, the median purchase price of average homes in the Dallas metro area was $263,688. This is 4% higher than the national average of $254,000.
• However, in the neighborhoods where RealWealth members invest, the median price of average homes was $165,000 in 2020. This is 35% lower than the national average of $254,000.
• This shows us that it’s still possible to find affordable homes in Dallas.

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It’s possible to generate passive monthly income from Dallas investment properties.

• In 2020, the median monthly rent for average homes in Dallas was $1,563, which is 0.59% of the purchase price of $254,000. This is slightly lower than the national average of 0.68%.
• In the neighborhoods where RealWealth members invest, the median monthly rent of homes was $1,400, which is 0.85% of the $165,000 purchase price.
• This shows us that Dallas offers a strong opportunity for investors to make significant rental income every month.

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Dallas home values have been on the rise in the last six years.

• Over the last 6 years (2014 to 2020), average homes in Dallas have appreciated by 55%. During the same period,  home values appreciated by 36% nationwide.
• This shows us that home values are rising 52% faster than most other cities across the nation. As long as job growth and the affordable cost of living continue to attract people to move here (which seems likely – see next section, “Population Trends”), this trend will likely continue.

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Dallas rental prices are also rising more quickly than other U.S. real estate markets today.

• In the last 6 years, the median rent for average homes in the Dallas metro area increased by over 25%. Nationally, rents increased by 23% during this period.
• This shows us that rental prices are holding steady with national average increases. This trend is also likely to continue as long as people and corporations continue moving to the Dallas metro.

People are moving to Dallas at a much faster rate than most other cities across the nation today.

• Between 2010 and 2020, Dallas’s population increased by over 18%, which is 202% faster than the national population growth during the same period.
• This shows us that people are moving to Dallas at a much higher rate than most other cities across the nation today.

There have been more jobs created in the Dallas real estate market over the last year than most other U.S. metros.

• In the last year, Dallas lost 125,000 jobs due to the COVID-19 pandemic. In an average year, annual job growth rate in Dallas is around 2.70%. Compared to most other U.S. cities, Dallas’s job market fared 46% better during the pandemic.
• This shows us that there are more jobs being created in the Dallas area than most other U.S. cities today.

Dallas is Still Affordable & Cash Flowing

• In the neighborhoods where RealWealth members invest, the median price of an average home was $165,000 in 2020. This is 35% lower than the national average of $254,000.
• This shows us that home values in Dallas are still more affordable than the average home nationwide.

Dallas Population is Growing Rapidly

• Between 2010 and 2020, Dallas’s population increased by over 18%, which is 202% faster than the national population growth during the same period.
• This shows us that people are moving to Dallas at a higher rate than most other cities across the nation today.

In a Typical Year, Dallas Has Significant Job Growth

• In the last year, Dallas experienced 125,000 job losses to their economy – an annual job loss rate of 3.28%. This is significantly better than the national job loss rate of 6% during the same period.
• This shows us that Dallas’s economy is stable and in a typical year, there are more jobs being created in the area than most other U.S. cities today.

Dallas Real Estate Prices & Rents are Rising Fast

• Over the last 6 years (2014 to 2020), average homes in Dallas have appreciated by 55% (versus 36% nationwide) and the median rent for average homes increased by 25% (versus 23% nationally).
• This shows us that home values and monthly rents are rising more quickly than most other cities across the nation. These trends are likely to continue as long as new jobs and affordability continue to attract people to move her – both of which seem likely.