Texas is the 12th-best state when it comes to jobs, rent increases in Arlington are among the highest in the nation, and Dallas-Fort Worth is expected to add jobs this year. We have all the details in this week’s roundup of real estate news.
Texas Ranks 12th For Jobs
Texas was tops in the country for monthly average starting salary, but took 12th overall in a WalletHub ranking of the best states for jobs.
The top five states were Massachusetts, Washington, Colorado, Vermont, and New Hampshire.
Texas ranked 14th in median annual income, 26th in unemployment, 27th in job opportunities, 28th in employment growth, 33rd in job satisfaction, 37th in commute time, and 47th in average workweek length.
Arlington’s Rent Increases Are Among Highest in Nation
Arlington had the highest increase of any city in any region in any category, with a whopping 40.6 percent increase in average studio apartment rents year-to-year, Rent.com’s 2019 Rent Price Analysis revealed.
The analysis also revealed that in some areas, one and two bedroom apartments actually cost less than studio apartments — including Fort Worth, where a one-bedroom apartment averages $157 less than a studio, and a two-bedroom is only $75 more a month than a studio. Studio rent rates year-to-year increased 24 percent, while rental rates on one and two bedroom apartments fell.
Plano had the highest increase for two-bedrooms in the South region, with a 25.3 percent increase.
DFW Will Add Jobs, Analysts Predict
Dallas-Fort Worth is expected to add 105,000 new jobs this year, analysis by researchers at Marcus & Millichap found.
“Recently announced employment expansions by Allstate and Texas Instruments expected to come to fruition over the next several years highlight the metro’s economic diversity,” analysts said.
The company also forecasts that 3.1 million square feet of retail construction will be completed in DFW by the end of 2019, vacancies will drop 30 basis points, and rents will increase 4.8 percent.
Source: Marcus & Millichamp