The Dallas population continues to grow and for understandable reasons. Professionals, families, and retired individuals choose Dallas for its abundant opportunities, diverse population, and relatively affordable cost of living.
As of 2022, Dallas is ranked fifth among the fastest-growing economies nationwide. Today, it’s well-known as one of the most populous cities in the United States. With a GDP growth of 3.1%, it’s one of the top cities in Texas experiencing mass migration, along with Houston, San Antonio, and Austin.
Major business enterprises are attracted to Dallas because of its prominent and diverse professional culture. There are 22 Fortune 500 companies and 43 Fortune 1000 companies in Dallas-Fort Worth alone, with national headquarters such as Exxon Mobil, Charles Schwab, and Southwest Airlines. In 2022, the Dallas-Fort Worth area had a 6% job growth rate across non-farm industries.
To learn why so many are moving to Dallas and if it’s the best choice for you, continue reading.
Dallas Community, Culture, and Pride
There’s a palpable sense of pride and community in the Dallas metroplex. Being centrally located, Dallas is an ideal spot for anyone looking to establish a network through the state and to other major cities in the U.S.
In addition to the well-known Texas pride of football, country music, and delicious BBQ, Dallas is now proud to be known as one of the most diverse cities in the country. Because more than one-fourth of Dallas’s population is born outside of the U.S., there exists a rich tapestry of cultures, traditions, and languages that make Dallas distinctively unique.
Economically, the diversity in Dallas upholds exceptional opportunities for individuals and communities. There is a booming job market that sustains key industries, including business services, hospitality, education, healthcare, and transportation.
Careers and Job Opportunities
Labeled as one of the top rising technologically-innovative cities in the United States, Dallas draws in companies and employees that spearhead society’s latest advancements. Dallas is home to the Richardson Innovation Quarter (Richardson IQ), which is a large living laboratory that supports further technology development across industries in the region. With Dallas’s expansive business and technology pool plus its reputation for diversity, there are unparalleled benefits presented to businesses, entrepreneurs, and employees in these fields.
There are recognized companies already headquartered in Dallas, and many more embarking on relocation. Some of the top Fortune 500 companies currently located in Dallas include:
- Exxon Mobil
- Energy Transfer Partners
- American Airlines
- DR Horton
- Charles Schwab
- HF Sinclair
- Tenet Healthcare
- Commercial Metals
- CBRE Group
- Builders Firstsource
Dallas has an abundance of local office suites and commercial rentals, making it convenient for startup companies and big business transplants planning to find a permanent location. In recent years, companies in manufacturing, finance, and trade have taken advantage of the widely available and affordable industrial space in the Dallas area.
From small businesses to high-level enterprises, Dallas has a place for any organization. Its overall pro-business climate, accessible capital, and surging talent pool make it an ideal location for those who value community and economic impact.
Food and Entertainment
One favorable scene Dallas is known for is its food and entertainment. The city is buzzing with good food, a vibrant art scene, ample entertainment opportunities, and popular retail shopping. Businesses and residents benefit from this flourishing Dallas lifestyle.
Renowned for its BBQ and Tex-Mex traditions, as well as its culinary expertise, Dallas is a central hotspot where people from all around the country flock. As an industry, Dallas restaurants total over $8 million in annual revenue. Aspiring chefs and restaurant owners also choose Dallas because of its unparalleled culinary schools, such as The International Culinary School at the Art Institutes and El Centro College culinary program.
Popular restaurants in Dallas include Uchi, Town Hearth, Pecan Lodge, Lucia, Rodeo Goat, and The French Room. The city also hosts noteworthy food festivals throughout the year, welcoming thousands of tourists to enjoy the city’s diverse, delicious cuisine. Such festivals include the Dallas Wine & Food Festival, Texas State Fair, Taste of Dallas, and the Big Texas Beer Festival.
The thriving art scene in Dallas dates all the way back to the late 1800s. There’s a storied history of local artists establishing themselves while contributing to the local community. From popular museums to provocative street art, there’s no shortage of creative output in Dallas.
Favored art and museum establishments in Dallas include the Deep Ellum murals, the Dallas Museum of Art, the George W. Bush Presidential Library, the JFK Sixth Floor Museum, Perot Life Science Museum, and the Holocaust Museum.
Art and history lend a meaningful, honorable outlet for many populations in the city and surrounding suburbs.
The live music and entertainment scene is another major attraction in Dallas. Performing arts centers, festivals, event centers, and learning centers can be found throughout the city.
Sports are among the most popular forms of entertainment in Dallas. Home to professional sports teams like the Dallas Cowboys (NFL), Dallas Mavericks (NBA), Dallas Rangers (MLB), and Dallas Stars (NHL), sports lovers and tourists from all over the country visit Dallas to experience the passion that runs deep for its professional teams.
Cost of Living
Compared to other major cities in the U.S., Dallas is well-known for its feasible cost of living. You won’t find such an affordable city with still so much diversity, business, and entertainment to enjoy.
The average cost of rent for a 2-bedroom apartment in Dallas is under $1,600 per month. For a standard 3-bedroom home, the average purchasing cost is around $421,380.
To compare the cost of living to other major U.S. cities:
Some of the most highly favored neighborhoods and surrounding suburbs of Dallas include Highland Park/University Park, Frisco, McKinney, Southlake, and Plano. The cost of living varies depending on the neighborhood. However, no matter what part of Dallas you move to, it proves to be reasonably priced for families working in various occupations.
Commercial Real Estate in Dallas
The thriving commercial real estate market is one of the reasons companies and investors continue to pursue Dallas as their home base for business. There is plenty of office space and retail space available for operations of nearly any size, with room to scale and grow.
In addition to such promising commercial real estate, the self-storage market in Dallas is another major consideration for commercial enterprises. In today’s growing real estate market, access to storage space is a valuable asset for the overall management and production of a business. Consumers also value self-storage options throughout Dallas, as it offers affordable short-term and long-term rentals with special features like climate control.
Top Tier Education System
The Dallas Independent School District (DISD) accounts for many of the schools in the area. Alternatively, there are several private schools to choose from. The DISD is notably the second-largest public school district in the state of Texas, educating more than 157,000 students.
Surrounding the city, the Dallas-Fort Worth suburbs offer some of the top schools in the region. Highly-rated independent school districts include Carroll, Lovejoy, Frisco, Grapevine-Colleyville, Prosper, McKinney, and Highland Park.
Higher education institutions include the University of Texas at Dallas, the University of Dallas, Southern Methodist University, and Paul Quinn College. In total, there are 230 schools and over 100 higher education options in Dallas alone.
Tax Benefits of Living in Dallas
There are several important tax benefits that families and businesses enjoy upon moving to Dallas, Texas. Aside from there being no individual or corporate income taxes, there are various economic development programs and incentives.
Tax abatements, tax credits, and clean energy tax initiatives are becoming more useful in the city of Dallas. For example, The Dallas City Council currently has a tax incentive that assists adaptive reuse projects, which many developers can take advantage of as it renovates old properties into new spaces. In 2022, over 4.5 million square feet of existing building space was converted into residential and mixed-use properties.
Local sales tax remains at a national average in Dallas, adding only 2% to Texas state’s 6.25%. Low tax rates combined with growing economic and cultural opportunities make moving to Dallas a dream for many aspiring professionals.
The Healthcare System in Dallas
The well-established medical facilities in Dallas-Fort Worth make its healthcare industry recognized nationally. Even amid national medical shortages from 2020-2022, Dallas contributed widely to the $38.4 billion economic impact among northern Texas hospitals.
Dallas healthcare is high-quality and accessible. New technology and the large pool of highly-trained medical professionals make Dallas a promising city for growing a career in healthcare or for seeking the highest quality care.
Parkland Memorial Hospital in Dallas is known for specialized medicine for epilepsy patients, arrhythmia management, and cardiology. Similarly, Baylor University Medical Center is one of three adult trauma centers in the Dallas region, serving more than five million residents. The University of Texas-Southwestern Medical Centers have a recognized cancer care center, transplantation center, and internal medicine specializations. Medical students, professionals, and researchers frequent Dallas to focus on up-and-coming health science developments.
Weather in Dallas
Throughout the year, temperatures in Dallas range from 39℉ to 96℉. The summer season is known to be hot and humid, while the winters tend to be cold and cloudy.
The best time to enjoy outdoor activities in Dallas is from late March to late June and late September into November. The hottest months last from June to September, whereas the coldest months persist from November to February.
Whether the temperature is warm or hot, popular outdoor attractions include the Dallas Zoo, White Rock Lake, the Dallas Arboretum, Trinity Forest Adventure Park, Klyde Warren Park, and Six Flags Over Texas. There are also plenty of air-conditioned, indoor entertainment attractions to enjoy too when the heat peaks!
Dallas Transportation and Infrastructure
Transportation throughout Dallas is functional and highly maintained. Its comprehensive light rail system, Dallas Area Rapid Transit (DART), serves the entire Dallas-Fort Worth metroplex. The Trinity Railway Express (TRE) and Denton County Transportation Authority (DCTA) offer well-known railway, train, and bus operations to take you from points A to B throughout the area.
People come and go from Dallas via two recognized airports: DFW International Airport and Dallas Love Field Airport.
If you’re moving to Dallas, there are plenty of reliable transportation systems to accommodate your personal and professional lifestyle.
Moving to Dallas: Embracing Innovation and Opportunity
At this point in history, Dallas is one of the top places to live and run a business in the United States. With its robust innovation, thriving diversity, and vast professional opportunities, it’s a renowned location for individuals of all lifestyles. It’s no wonder why people from all over the U.S. are moving here.
If you’re considering moving to Dallas, know that you’ll quickly be welcomed by its growth-positive locals and creative social communities. The booming job market, affordable cost of living, and flexible lifestyle options make it ideal for anyone seeking a new home or business headquarters.
Learn more about moving to Texas and its many benefits here.
If you are looking to relocate your business to Dallas, contact us today to speak with one of our commercial leasing representatives.
Silver Star Properties REIT, Inc.
2909 Hillcroft, Suite 420
Houston, Texas 77057
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