Located in the northern region of the state of Texas, the city of Dallas is the third largest in the state, behind Houston and San Antonio. Featuring a residential population of approximately 1.25 million inhabitants, Dallas provides locals and business owners with the opportunity to immerse themselves in a thriving cultural and economic infrastructure which offers a wide range of opportunities to those living there. Rental properties for lease in Dallas, including office space for rent and commercial space for rent, will prove to be ideal for business owners seeking to firmly establish themselves in the most prominent community in this region of the state. Properties available in Dallas range in type from small retail establishments to large manufacturing centers located on the outskirts of the city. As the region continues to expand, it is likely that business owners will be able to find properties in the area that are both affordable and advantageously positioned to offer lucrative growth potential.
Featuring median household incomes roughly 20% lower than state averages, residents living within the city limits of Dallas are commonly considered to exist within a middle-income demographic. Common occupations for residents here include positions in industries ranging from finance and business to the scientific, professional and technical services, among others. Dallas also features a large manufacturing and construction infrastructure, thanks in large part to the extensive volume of development currently occurring. The per capita income of Dallas is approximately $26,000. According to recent studies, roughly 20% of the local population in Dallas is currently living below the poverty line. Although a variety of high-end residences are available within Dallas proper, the abundance of suburban infrastructure in close proximity to the downtown regions of the city have proven to be attractive residential options for the city’s more wealthy individuals, many of whom are seeking a more tranquil domestic experience in which to raise children and start a family.
The economy of Dallas and the growth of the city’s population base has experienced mild fluctuations over the last several decades, due in large part to greater economic trends in the US. Following the 2008 financial crisis, Dallas has become a popular destination for individuals from across the country due to a wealth of job opportunities, low unemployment rates, and an affordable cost of living. Demographically, Dallas remains somewhat diverse, with 50% of the population classified as Caucasian and the remaining half of the population composed of individuals from a wide variety of ethnic backgrounds. Popular attractions in the area include numerous sporting teams, as well as an abundance of cultural attractions (Dallas Museum of Art, Meyerson Symphony Center) and shopping opportunities, such as the NorthPark Centre and The Galleria. The wealth of ethnic diversity in Dallas has also led to the development of numerous cultural centers and areas of congregation for individuals of specific cultures.
The origins of Dallas can be traced back to 1845, following the annexation of The Republic of Texas by the United States and the subsequent establishment of Dallas County. In 1856, Dallas was officially incorporated as a city within the state of Texas. Dallas was thrust into the international spotlight in 1963, following the assassination of then President John F. Kennedy in the downtown area of the city. In the past two decades, city planners have placed extensive attention on renovating the cultural fabric of the city. In addition to a variety of substantial new construction projects, including the establishment of the Winspear Opera House and the AT&T Performing Arts Center, Dallas now supports a variety of renowned chefs, visual artists, musicians and creative thinkers, as well as a vibrant tech sector.
The population of Dallas has grown tremendously in recent years, thanks in large part to an influx of both domestic and international migrants. Economic opportunity remains a significant attractor for many individuals. Although residential properties are relatively expensive within the neighborhoods of Dallas proper, the vast array of suburbs surrounding Dallas provide ample opportunity for newly established residents to successfully locate affordable housing. Although the city of Dallas currently hosts approximately 1.25 million residents, it is also important to remember that this figure fails to take into account the significant number of individuals residing in the vast array of suburbs surrounding the city on all sides.
Dallas remains a hotspot for economic and cultural investment, thanks to the preponderance of wealth and economic prosperity in the region. With a wide variety of development projects currently underway, Dallas is poised for significant growth in the next decade. As the population of the DFW metroplex continues to rise, many experts agree that Dallas will begin to invest further resources into evolving the residential experience inside of Dallas proper. Many believe that the cultural fabric of Dallas will change tremendously over the next several years as the demographics of the city continue to evolve. Dallas’ thriving arts center is also proving to be a significant draw for both audiences and entrepreneurs seeking to capture the attentions of an upwardly mobile, affluent demographic that frequents the cultural happenings of the city.
Depending upon the specific nature and type of business, a wide variety of locations in Dallas may be suitable for leasing. For those seeking to establish retail operations in Dallas that rely upon a steady stream of pedestrian traffic or consumers, areas such as Deep Ellum and various venues throughout “uptown” may prove to be ideal. As could be expected, the vast majority of office space leased in Dallas is found in the heart of downtown. Thanks to an extensive rail network integrated into Dallas proper, potential consumers and current employees can quickly make their way through the downtown area of the city. Businesses that require substantially more space for their operations, such as those engaging in manufacturing, construction or storage, may find better prospects for leasing on the outskirts of the city proper.