Fort Worth Arlington
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RealReal EstateEstate MarketMarket OverviewOverview FortFort Worth-ArlingtonWorth-Arlington Jennifer S. Cowley Assistant Research Scientist Texas A&M University July 2001 © 2001, Real Estate Center. All rights reserved. RealReal EstateEstate MarketMarket OverviewOverview FortFort Worth-ArlingtonWorth-Arlington Contents 2 Population 6 Employment 9 Job Market 10 Major Industries 11 Business Climate 13 Education 14 Transportation and Infrastructure Issues 15 Public Facilities 16 Urban Growth Patterns Map 1. Growth Areas 17 Housing 20 Multifamily 22 Manufactured Housing Seniors Housing 23 Retail Market 24 Map 2. Retail Building Permits 26 Office Market 28 Map 3. Office and Industrial Building Permits 29 Industrial Market 31 Conclusion RealReal EstateEstate MarketMarket OverviewOverview FortFort Worth-ArlingtonWorth-Arlington Jennifer S. Cowley Assistant Research Scientist Haslet Southlake Keller Grapevine Interstate 35W Azle Colleyville N Richland Hills Loop 820 Hurst-Euless-Bedford Lake Worth Interstate 30 White Settlement Fort Worth Arlington Interstate 20 Benbrook Area Cities Counties Arlington Haltom City Hood Bedford Hurst Johnson Benbrook Keller Parker Burleson Mansfield Tarrant Cleburne North Richland Hills Land Area of Fort Worth- Colleyville Saginaw Euless Southlake Arlington MSA Forest Hill Watauga 2,945 square miles Fort Worth Weatherford Grapevine White Settlement Population Density (2000) 578 people per square mile he Fort Worth-Arlington Metro- cane Harbor and The Ballpark at square-foot rodeo arena, and to the politan Statistical Area (MSA) Arlington, is known as Texas’ “most Bass Performance Hall and a newly T includes 20 cities with popula- entertaining” city. Fort Worth is home renovated downtown. tions of 10,000 or more. Arlington, to the world’s largest honky-tonk, Billy home to Six Flags Over Texas, Hurri- Bob’s Texas, which includes a 4,800- 1 POPULATION Kelly Air Force Base, San Antonio Fort Worth-Arlington MSA Population Year Population 1990 1,367,740 1991 1,396,371 1992 1,416,814 1993 1,434,144 1994 1,461,391 1995 1,488,292 1996 1,519,315 1997 1,554,162 1998 1,591,765 1999 1,629,213 2000 1,702,625 Source: U.S. Census Bureau County Population Growth Growth 1990–2000 County 2000 Population (in percent) Hood 41,100 41.8 Johnson 126,811 30.5 Parker 88,495 36.6 Tarrant 1,446,219 23.6 Source: U.S. Census Bureau 2 Area Cities With 10,000 or More Residents Percent Growth 1990–2000 City 2000 Population (in percent) Fort Worth 534,694 19.3 Arlington 332,969 27.1 North Richland Hills 55,635 21.2 Bedford 47,152 7.8 Euless 46,005 20.2 Grapevine 42,059 42.4 Haltom City 39,018 19.1 Hurst 36,273 8.9 Mansfield 28,031 80.8 Keller 27,345 100.1 Cleburne 26,005 14.2 Watauga 21,908 9.6 Southlake 21,519 200.8 Burleson 20,976 27.2 Benbrook 20,208 3.2 Colleyville 19,636 55.2 Weatherford 19,000 20.8 White Settlement 14,831 –4.1 Forest Hill 12,949 12.9 Saginaw 12,374 44.6 Source: U.S. Census Bureau ort Worth is the sixth largest city growing at a rate faster than the state as Texas State Data Center. The Texas in Texas, and Arlington ranks a whole. It is expected to continue to Water Development Board forecasts a Fseventh, according to the 2000 grow at a rapid rate, averaging 1.5 slightly faster growth rate of 1.7 Census. More than 1.5 million people percent per year, according to the percent per year. live in the metropolitan area, which is 3 Texas Metropolitan Area Population Change, 1990–2000 (in percent) McAllen-Edinburg-Mission 48.5 Galveston-Texas City 15.1 Austin-San Marcos 48.2 Tyler 15.5 Laredo 44.9 El Paso 14.9 Dallas 31.5 Corpus Christi 14.3 Brownsville-Harlingen-San Benito 28.9 Victoria 13.1 Brazoria County 26.1 Waco 12.9 Houston 25.8 Texarkana 9.4 Fort Worth-Arlington 25.1 Lubbock 9.0 Bryan-College Station 25.1 Wichita Falls 7.8 Texas 22.8 Longview-Marshall 7.7 Killeen-Temple 22.6 Beaumont-Port Arthur 6.6 San Antonio 20.2 Abilene 5.8 Sherman-Denison 16.4 San Angelo 5.6 Amarillo 16.2 Odessa-Midland 5.1 Source: U.S. Census Bureau Fort Worth-Arlington MSA Projected Population Texas State Texas Water Year Data Center Development Board 2005 1,727,308 — 2010 1,848,797 1,910,139 2015 1,953,353 — 2020 2,049,616 2,170,162 Sources: Texas State Data Center and Texas Water Development Board Projected Population Growth, 2000–2020 (in percent) 50 40 30 40.2 20 29.2 10 0 Fort Worth-Arlington MSA Texas Source: Texas State Data Center 4 Household Composition Tarrant County Texas Median household size (1990) 2.58 2.73 Population younger than 18 (1999, in percent) 27.3 28.5 Population 65 and older (1999, in percent) 8.5 10.1 Source: U.S. Census Bureau Ethnic Distribution (in percent) Tarrant County Texas Ethnicity 1990 2000 1990 2000 White 73.3 51.6 60.8 52.4 Hispanic 11.4 19.7 25.3 32.0 Black 12.2 12.8 11.7 11.3 Asian 2.6 3.7 0.3 2.7 American Indian 0.5 0.6 1.8 0.3 Other 0.0 9.1 0.1 0.2 Two or more races* _ 2.5 _ 1.1 * For the 2000 Census, the Census Bureau changed the “race” options, allowing people to report their race as “other” or as two or more races. Source: U.S. Census Bureau he Fort Worth-Arlington MSA is was $28,035. The state average was becoming more diverse, follow- $26,834, according to the U.S. Bureau T ing the state’s trend. The 1999 of Economic Analysis. median per capita income for the area 5 EMPLOYMENT 0 1 2 3 4 5 6 7 Source: U.S.BureauofLaborStatistics 1,000,000 Source: U.S.BureauofLaborStatistics 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 January-95 May 0 Sept UnemploymentRate MSA Fort Worth-Arlington 1990 January-96 Employment MSA Fort Worth-Arlington May 1991 Sept 1992 January-97 May (in percent) 1993 Sept 6 January-98 1994 May 1995 Sept January-99 1996 May 1997 Sept January-00 1998 May 1999 Sept January-01 2000 Top Ten Private Employers Fort Worth Arlington Bergstrom Air Force Base, Austin AMR Corporation Six Flags Over Texas Airline Amusement park 30,000 employees 3,250 employees Lockheed Martin Americredit Aircraft manufacturing Finance 11,300 employees 3,000 employees Bell Helicopter Textron The Parks at Arlington Helicopter manufacturing Mall 7,800 employees 3,000 employees Teleservice Resource Inc. General Motors Truck Group Telemarketing Vehicle assembly 6,000 employees 2,400 employees Delta Airlines Arlington Memorial Hospital Airline Medical care 5,000 employees 1,800 employees Sabre Decision Technologies Texas Rangers Baseball Club Data systems Baseball 5,000 employees 1,770 employees Harris Methodist Health Care System Providian Financial Medical care Call center 3,868 employees 1,219 employees PrimeCo National Semiconductor Wireless technology Semiconductor manufacturing 3,400 employees 1,200 employees Burlington Northern-Santa Fe Corp. Doskocil Manufacturing Co. Transportation Pet and outdoor products 3,100 employees 1,158 employees Alcon Laboratories Siemens Electrocom Manufacturing Mail sorting equipment manufacturing 2,500 employees 1,100 employees Sources: Arlington and Greater Fort Worth Chambers of Commerce 7 Fort Worth- Employment Growth by Industry Arlington MSA Texas Employment growth, 2000 (in percent) 3.6 3.2 Unemployment rate (in percent) 3.2 4.2 New jobs in 2000 27,600 288,900 Employment growth by sector (in percent) Services 4.1 4.7 Trade 3.0 3.1 Manufacturing 0.0 0.1 Mining –2.4 2.3 Finance, insurance and real estate 7.1 1.3 Construction 9.3 6.2 Government 3.6 1.7 Transportation, communications and public utilities 4.5 5.1 Sources: U.S. Bureau of Labor Statistics and Texas Workforce Commission Texas Metropolitan Area Employment Change, 1990–2000 (in percent) Austin-San Marcos 58.8 El Paso 15.4 Laredo 40.3 Waco 14.3 McAllen-Edinburg-Mission 35.8 Lubbock 14.0 Dallas 30.4 Sherman-Denison 12.5 Brownsville-Harlingen-San Benito 30.1 Longview-Marshall 12.2 Bryan-College Station 29.2 Abilene 11.4 Killeen-Temple 28.7 San Angelo 10.7 San Antonio 28.6 Corpus Christi 10.3 Fort Worth-Arlington 23.7 Galveston-Texas City 8.2 Texas 23.3 Wichita Falls 7.8 Tyler 22.9 Odessa-Midland 6.5 Victoria 22.4 Texarkana 4.5 Houston 22.1 Beaumont-Port Arthur 3.5 Amarillo 18.6 Brazoria County 2.3 Source: U.S. Bureau of Labor Statistics, February 2001 mployment in the Fort Worth- steady at 3.2 percent for 2000 com- Lockheed, General Motors, Bell Arlington area increased 3.6 pared to 3.1 percent for 1999. Helicopter Textron, National Semicon- E percent during 2000, a rate American Airlines is the largest ductor and Siemens Electrocom are all slower than the 3.7 percent increase employer in the Fort Worth-Arlington major manufacturers in the area. during 1999. Unemployment remained area. The company employs 30,000. 8 JOB MARKET Fort Worth center, adding 200 employees. FedEx Arlington Dell Computers is planning a announced plans at the end of 2000 to AmeriCredit plans to add a new customer service, sales and technical add 300 employees to its Southeast office building at their current facility support center in the Alliance area. Fort Worth Hub.