January 4, 2017
Those who live in the Dallas-Fort Worth metro know that single-family housing prices are increasing. The numbers bear that out; housing values increased by 11.1%, or $45.7 billion through the end of last year, according to research firm Zillow Inc. The result is a combined property value of $456.9 billion, roughly the national gross domestic product of Poland.
The combined value of homes throughout Dallas-Fort Worth is 34% higher than it was during the housing bubble, between 2006 and 2012, according to Zillow’s senior economist Aaron Terrazas. Though the housing values have skyrocketed, Terrazas said Dallas-Fort Worth continues to be relatively affordable, especially measured against Los Angeles or Southern California.
In the apartment arena, North Texas renters paid a total of $11.1 billion in 2016. The amount was a 4.8% increase year over year.
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