Texas ranked second in the nation for relocation activity in 2017, according to the Texas Relocation Report released earlier this year by Texas REALTORS®.The number of years the city has led that list is remarkable. Of course, what really puts Dallas on top is the fact that there are actually two distinct types of relocation entities that consistently make their way to the metro area: people and businesses. It’s a unique mix that illustrates the versatility of the city. Dallas appeals not only to individuals who are looking for a certain lifestyle, but also to companies of all sizes that require a very specific business climate in order to succeed—and metro Dallas checks all the boxes for both. Here, we take a deeper look at the people and businesses moving to the area and consider what the future holds.
Cost of Living in New York vs. Dallas, TX
According to bestplaces.net, New York is a much more expensive city or raise a family compared to Dallas, Tx.
- Overall, New York, New York is 84.3% more expensive than Dallas, Texas - Median Home Cost is the biggest factor in the cost of living difference. - Median Home Cost is 216% more expensive in New York.
The People
1. How many people are moving to Dallas?
From 2017 to 2018, the region added about 361 residents per day, according to population estimates released by the U.S. Census Bureau. Put another way, DFW gained 131,767 residents in just one year. From 2010 to 2018, DFW ranked first among all U.S. metro areas for population growth on a numeric basis. Currently, the metro region’s population sits at about 7.5 million people, which makes it the fourth largest metro area in the country.
2. How many people are expected to move to metro Dallas in the future?
According to the North Central Texas Council of Governments, the ten counties - Wise, Denton, Collin, Hunt, Parker, Tarrant, Dallas, Rockwall, Kaufman, Johnson, Ellis - in North Texas will have over 9.1 million people living in households by the year 2030.
3. Who is moving to Dallas?
There is great diversity among those who relocate to Dallas, particularly in terms of age. One of the largest groups of new residents is comprised of millennials.
In 2019, SmartAsset.com named Dallas the number one city for people between the ages of 21 and 36; Dallas ranks as the No. 1 U.S. city on the new Millennial Desirability Index from Meyers Research, a California-based housing research firm. Berlin-based housing website Nestpick examined 22 factors — including digital connectivity, environmental friendliness, affordability, career opportunities, recreation, and safety — to pick the best cities in the world for Gen Zers. Dallas ranks No. 3 in Texas, No. 11 nationwide, and No. 49 globally, according to the study. Also making Dallas home are retirees; WalletHub recognized Dallas as the 22nd best place to settle down during your golden years thanks to affordability, quality of life, healthcare and availability of recreational activities. Of course, families love Dallas as well. According to Niche, metro cities like Coppell, University Park, Frisco Flower Mound, Murphy, Southlake and Allen are among the best for raising a family; the population growth in these areas reflect those positive rankings. Many of those new families come to Dallas thanks to a corporate relocation.
4. Where are people relocating from when moving to Dallas?
According to 2019 Texas Relocation Report released this year, the highest number of new Texans relocated from California (63,175), Florida (33,740), Louisiana (28,700), Illinois (26,214) and New York (20,644).
5. Where are residents settling down in the metro area?
According to 2019 Texas Relocation Report released this year, out of top 10 Texas counties with the highest gains of out-of-state residents (inflow of people) in Texas, four are in the Dallas/Fort Worth/Arlington area - (No. 2 Dallas, No. 3 Tarrant, No. 6 Collin, No. 9 Denton).
According to a list recently released by the U.S. Census Bureau of the country’s fastest-growing large cities, Seven of the 15 fastest-growing cities are in Texas. The top three cities on the nationwide fastest-growing list are in the Lone Star State. Frisco is number 1 in the country. New Braunfels and Pflugerville follow Frisco at Nos. 2 and 3.Two other North Texas cities made the fastest-growing list, too. McKinney was No. 9 with a 4.8 percent increase, and Flower Mound was No. 11 with a 4.3 percent increase.
6. Why are so many people moving to Dallas?
There are many reasons to move to Dallas. The city was ranked 63rd on the 2019 Quality of Living list, a study conducted by Mercer that evaluates local living conditions in more than 230 cities worldwide; it was one of only 17 cities from the U.S. included on the list. The economy is the 2nd largest in the country, and the Bureau of Labor Statistics reports that the area has had over-the-year employment gains every month since July 2010. Employment opportunities abound, the housing market is affordable and robust and people can choose either an urban lifestyle or a suburban way of life within the metro Dallas area.
The Businesses
1. How many businesses relocate to or choose to open locations in Dallas?
More than 75 companies have relocated their national or international headquarters to Dallas-Fort Worth in the past seven years. The biggest win for the DFW Metroplex in 2019 is Core-Mark, a Fortune 500 company moving to Westlake from San Francisco. The Dallas-Fort Worth region has been a magnet for corporate headquarters and major company operations, attracting 22 Fortune 500 company headquarters (with 2 additional, McKesson and CoreMark, coming on board in 2018) and 43 headquarters among the Fortune 1000. A diverse group of household names such as ExxonMobil, Texas Instruments, AT&T, American Airlines, J.C. Penney, KimberlyClark, Toyota, and Keurig Dr Pepper call the region home, reflecting the area’s strong fundamentals when it comes to workforce, access, and cost of doing business.
The DFW region’s corporate powerhouse companies are distributed throughout Dallas-Fort Worth, an indication of its strength, quality of the workforce, and ease of navigation between cities and corporate centers. Scanning the roster of major employers located here, it’s easy to see the breadth and depth of the business community, from high-tech industry leaders, telecommunications, logistics, and finance to consumer brands that ease the daily lives of families across the globe. Dallas–Fort Worth’s diverse base of employers drives the region’s economic strength, pulling from a variety of industries, so that growth is possible even during weak business cycles.
Texas is home to 39 companies in the Dallas metro area, including AT&T, ExxonMobil and Texas Instruments. And it boasts some of the nation’s largest privately-held companies, including supermarket operator H-E-B, Neiman Marcus Group and Hunt Oil.
2. Which companies have expanded and relocated to Dallas metro area recently?
The Dallas-Fort Worth region is regularly identified as one of the nation’s top markets for new and expanded corporate facilities. Dallas-Fort Worth attracts an impressive list of companies from diverse industries. Past relocations to the region included headquarters moves for Fortune 500 and Forbes Top Private companies such as Golden Living, Fluor, Comerica, and AT&T. These companies are more recently joined by well-known industry leaders like Toyota, Top Golf, NTT Data, and Jamba. During the same period, companies including Amazon; Bed, Bath & Beyond; BMW; Galderma; and General Motors have expanded into distribution, logistics, and manufacturing centers. Meanwhile, corporations including 7-Eleven, American Airlines, Liberty Mutual, State Farm, FedEx, and Mr. Cooper (formerly Nationstar Mortgage) have expanded into new office space.
OTHER NEW HQ ESTABLISHMENTS include
Blackberry North American HQ (Canada)*
Commemorative Air Force (Midland, TX)
GuestLogix U.S. HQ (Canada)
Hisun Motors North American HQ (China)
Howard Hughes Corp.
KidZania (Mexico)
Leclanché (Switzerland)
Lone Wolf Real Estate Technologies ( Canada)
NGC Renewables North American HQ (China)
Nutribiotech (South Korea)
Triathlon Battery Solutions (Germany)
Taleris Zinwave (UK)
3. How many jobs do businesses bring to Dallas?
Texas has added more than 350,000 jobs in the past year. Put another way, 1 in 7 jobs created in the United States in the past year was created in Texas. According to the Bureau of Labor Statistics report, the area that includes Dallas, Fort Worth, Arlington, Plano and surrounding cities added 100,400 jobs between November 2016 and November 2017. As of March 2019, Dallas-Fort Worth added 100,100 jobs year-over-year in January, making it the second-largest driver of job growth in the U.S. behind New York, which added 141,000 jobs.
4. What kinds of businesses are moving to Dallas?
The Dallas Chamber of Commerce has identified key industry segments for the area, and it’s these segments that are seeing incredible growth:
Advanced Services
Manufacturing
Financial
Food
High Tech
Health Care
Health Industry Impact
Life Sciences
Aviation and Aerospace
Telecommunications
Data Centers
Hospitality
Logistics
While some businesses are being started right here in the city, many companies are moving from their founding cities to the metro area as well.
5. Where are businesses relocating from when moving to the metro area?
Companies relocating to Dallas actually come not only from across the country, but also from around the world. And when it comes to technology, Dallas has become a very attractive option for companies of all sizes. The city has become known as a major tech hub and location for company growth, and it has attracted tech firms from other well-known technology locales like Silicon Valley, New York and Durham, N.C.
6. Where are businesses relocating to within the metro Dallas area?
Of course, three locations inside the perimeter are key business centers: Plano, Las Colinas and Frisco. Yet, counties and cities outside these popular destinations are welcoming relocating companies as well. The sister city Fort Worth Is Also Jumping Into the Corporate Relocation Game. Fort Worth already has 68 active projects in its pipeline with interested parties, including many companies of various sizes and from different industries.
What’s more, the Dallas Chamber of Commerce reports that companies are moving to or opening in counties across the DFW metro area, from Westlake to Deep Ellum in Dallas where Uber has committed to a new development for as many as 3,000 new high-tech jobs with a $400 million annual payroll.
The city is also home to the University of Texas Southwestern Medical School, Texas Woman's University, University of North Texas at Dallas, Paul Quinn College as well as a number of religious affiliated and community colleges. This provides well educated workforce to all the employers.
7. Why are so many businesses moving to Dallas?
For many companies and employees, no state income tax for employees are a key draw to the metro Dallas area. In addition, a good cost of living, excellent schools, housing that's affordable with lots of price points, safe neighborhoods, access to arts and sports, racial and ethnic diversity and Dallas/Fort Worth International Airport are motivating Fortune 500 and other companies to setup shops in Dallas metro area. While Texas offers incentives such as tax abatements to lure companies, like most states and cities do, it also has an aggressive economic development policy that's been successful in attracting companies such as the PGA to Frisco, TX. A host of companies including Toyota, Boeing, Charles Schwab, Merck, Kubota and the thousands of other game-changing companies have chosen Texas for its pro-business tax climate, world-class infrastructure, skilled workforce and central North American location.
8. How many jobs are expected in Dallas in the near future?
According to Dallas Fed in Aug 2019, incorporating July job growth of 3.4 percent and a slight increase in the leading index, the Texas Employment Forecast suggests jobs will grow 2.6 percent this year (December/December). Based on the forecast, 331,100 jobs will be added in the state this year, and employment in December 2019 will be 12.9 million.
About us:
What is most important to you in your new city - Dallas? With a little bit more info about what you’re looking for in a new city, we can help you determine whether or not Dallas would be a good fit. Send us an email at info@NitinGuptaDFW.com, fill out our Relocation Questionnaire, or give us a call at (469) 269-6541 to schedule a no obligation consultation. We’ll give you honest advice about Dallas that you can use to help make your relocation decision. In the meantime, check out our Guide to Relocating to Dallas.
Whether you are an individual simply relocating to Dallas, or moving your entire family due to transferring with your company, we can help. Our relocation professionals ease the transition whether you are moving across town or across the globe. We will work with you to find an area that best suits your professional, family and lifestyle needs. Since many of our clients are relocation buyers, we have all the tools you need to help your home search. Whether it is video previews of homes, extended work hours, digital signatures for documents or more, we can make this process as comfortable as possible no matter where you are located.
