Growth in Texas Not Slowing Down

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Posted on 15th March 2013 by Grand_Homes in Dallas Real Estate |Homebuyer Tips

Texas Business, Texas Economy, Texas Growth

The explosive growth across Dallas-Fort Worth-Arlington and much of Texas isn’t slowing down.

The DFW metropolitan area recorded the largest increase in the nation from July 1, 2011, to July 1, 2012, adding 131,879 people, according to U.S. Census Bureau estimates released today.

The 2 percent uptick pushed the Metroplex population to 6,700,991.

Since the April 1, 2010, census, DFW’s growth spurt is even more impressive: The population has increased by 4.3 percent, or 274,781 people.

The Houston metro area was ranked No. 2 in growth over the one-year period, adding 125,185 people to reach 6,177,036. Since 2010, it has also grown by 4.3 percent, adding 256,579 people.

“What we are seeing is a continuation of very robust growth. When you see the No. 1 and No. 2 biggest gainers are Dallas-Fort Worth and Houston, you are seeing a state that continues to have phenomenal growth,” said Steve Murdock, a Rice University professor and former census director.

“The large population centers, particularly the triangle group of Dallas-Fort Worth, Austin-San Antonio and Houston, have been the growth drivers in Texas. And their growth is absolutely driven by jobs,” he said.

The same holds true in smaller metro areas in the midst of the oil and gas boom across Texas and the Great Plains.

Midland was the fastest-growing metro area as its population increased by a whopping 4.6 percent in one year. Nearby Odessa was No. 5, growing by 3.4 percent.

Austin-Round Rock was No. 7, growing by 3 percent, or 53,595. Since 2010, the Austin area has added 118,017 people, a 6.9 percent increase.

Among U.S. counties, Harris had the biggest numeric increase (80,000), followed by Los Angeles and Maricopa, Ariz., which each added 74,000.

Dallas County (46,000) was ranked No. 4, Travis County (34,000) No. 7 and Tarrant County (33,000) No. 9. Texas had 11 counties among the 50 fastest-growing, as well as 11 among the top 50 in numeric gains.

A solid indicator of the state’s economic health is that migration hasn’t lost momentum, Texas State Demographer Lloyd Potter said.

DFW had a natural increase (births minus deaths) of 58,974 but added 72,401 through net migration in the one-year period. That’s about 198 new migrants every day.

No. 2 Houston wasn’t far behind, adding 40,345 residents from elsewhere. No. 3 Phoenix added 37,025, followed by No. 4 Austin, with 30,324.

“Migration is not slowing down. We are seeing significant domestic migration, but international migration is right up there as well. We have people moving here from all over the country and all over the world,” Potter said.

“This adds to the understanding that Texas is a destination state. If you look at where migrants go, they are going towards economic opportunities. Part of that is employment, but you also have the economics of the low cost of living in Texas. Every migrant is making an economic decision.”

 

Article By: Steve Campbell,  Star Telegram
See full article here.
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