Chuck Dannis

The Dallas area has been a clear leader in job creation in the United States. With the direct correlation between job growth and real estate activity well defined, major real estate investors—domestic and foreign—are constantly researching our market for new investment opportunities. And when they do, they are comparing us to alternative markets in terms of risk and reward.

When you factor in a good economic environment with relatively good pricing, our real estate market continues to look good. The following data from Real Capital Analytics, one of the world’s leading real estate research firms, shows how the price of Dallas real estate compares to other large U.S. cities in each of the four major food groups (click on image for larger view):

I like the fact that we are a perennial frontrunner in the country’s overall job growth, but equally impressive is that in general, our local real estate remains priced below the national averages. This comparison is even more compelling when you consider that those national averages include many smaller, tertiary markets that are not remotely competitive to Dallas, the fourth-largest metro area in the country.

What is also really easy to like is our apartment pricing: the Dallas average is more than 60 percent lower than the national average. Considering Dallas’ median household income is about the same as the national average, it’s no wonder people are coming here in droves to work—or find work. Dallas is affordable, accessible and hospitable.

Now, having objectively touted our local market, don’t get me started on the relative pricing in DC: of course people there can afford those high prices—they work for the federal government! Enough already.

All in all, the thought of working here in Dallas, in a relatively robust economy, surrounded by an abundance of relatively low-priced real estate investment opportunities, sounds pretty appealing to me—relatively speaking, of course.

Chuck Dannis is co-founder of Crosson Dannis Inc., which provides real estate appraisal and consultation services for many of the nation’s largest real estate lenders and owners. Contact him at cdannis@crossondannis.com.