Affordable Housing Gap Widens Throughout Dallas-Fort Worth
After seeing its population grow by 97,000 between July 2020 and 2021, the Dallas-Fort Worth (DFW) metroplex is now home to nearly 8 million people, according to data from the U.S. Census Bureau. And it’s getting increasingly harder to adequately and affordably house the growing population.
The problem isn’t new, just exacerbated, and it’s hardly unique to DFW. But when a market experiences the rate of population growth that the metroplex has over the last decade, the question of how much housing inventory exists that’s financially feasible for the average resident to rent or own gets thrust under the microscope.
Of course, there’s a major difference between housing that’s affordable and affordable housing. The former is something of an arbitrary concept, whereas the latter carries a precise legal and regulatory definition. But the socioeconomic issue embodied within the two is largely the same...
Read the entire article on RE Business Online here.
— This article originally appeared in the June 2022 issue of Texas Real Estate Business magazine.
Palladium USA is underway on construction of Embree Eastside, a 107-unit mixed-income development in the northeastern Dallas suburb of Garland. The project team includes the Garland Housing Finance Corp. Units will be reserved for households earning between 30 to 60 percent of the area median income. PNC Bank provided equity and construction financing.