FOR IMMEDIATE RELEASE
FORT WORTH, Texas (Sept. 5, 2012) – The area including and immediately surrounding AllianceTexas, Hillwood Properties’ 17,000-acre master-planned community in north Fort Worth, more than doubled its population during the past decade, according to a study released today. The population increase makes it one of the fastest-growing communities in the nation, while likely accounting for nearly half of Fort Worth’s population growth during the same period. The study further indicates that AllianceTexas is attracting one of the most educated workforces in the state.
The AllianceTexas area added 111,000 persons from 2000 to 2010, giving the area the second-largest absolute population gain and the third-fastest percentage of growth when compared to cities over 50,000 in the Metroplex. Taking into account a previous report by the U.S. Census Bureau, which identifies Fort Worth as the fastest-growing large city in the nation due to the addition of over 200,000 new residents during the past decade, it appears likely that more than half of the city’s population growth is taking place at AllianceTexas.
With this level of growth, if the AllianceTexas area were its own city, it would rank as the 7th-largest MSA in the Dallas/Fort Worth area. Compared with all Texas cities, the AllianceTexas area would rank as the 14th-largest city in Texas. Nationally, the AllianceTexas area would be the 5th-fastest-growing community among cities with over 100,000 individuals, just behind Surprise, Ariz.; Frisco, Texas; McKinney, Texas and Murrieta, Calif.
“It’s staggering to see how much this community has grown during the past decade,” said Mike Berry, president of Hillwood Properties. “There are many reasons why the AllianceTexas region has become a leading destination for North Texas residents, including a robust job center and affordable, quality housing. In tandem with our business, civic and government partners, we have built a sustainable community that offers a quality lifestyle for its residents. AllianceTexas is only 40 percent developed to date, and our challenge moving forward will be to create the infrastructure needed to meet the region’s demands. We’re very excited about the expansion of 35W, rail and mass transit. Each will play a significant role in AllianceTexas’ ongoing success.”
According to the report, between 2000 and 2010, the AllianceTexas area saw a 114 percent population increase. The community experienced a 115 percent increase of individuals 18 years or older. Hispanics/Latinos were the fastest growing ethnic group in the area with a 223 percent increase, while non-Hispanics accounted for a 102 percent increase.
In order to keep up with the growth, total housing units in the area increased just over 111 percent, with owner-occupied units increasing by 104 percent and renter-occupied units increasing by 151 percent. Occupancy remained steady at 95 percent, indicating that the housing supply kept pace with the demand. The average household size in the AllianceTexas area was 2.95 persons, a slight increase of 1.1 percent, which is higher than the national average of 2.59 and the Texas average of 2.78.
Along with the growing population, the value of homes in the AllianceTexas area also increased. During the 2000-2010 period, the median home value was $183,929, an increase of 23.8 percent. This is higher than the Texas median home value at $123,500, and slightly below the U.S. median home value at $188,400.
In addition to rapid growth, the demographic study shows that the AllianceTexas area has established one of the most highly educated workforces in the nation. Over 93 percent of residents 25 and over have earned at least a high school degree, ranking AllianceTexas first in educational attainment when compared to Texas cities with more than 100,000 residents. When compared nationally to cities with more than 100,000 residents, AllianceTexas ranks 6th, just after Overland Park, Kan.; Irvine, Calif.; Scottsdale, Ariz.; Gilbert, Ariz.; and Madison, Wis.
The AllianceTexas area is also among the top Texas communities attracting individuals with a college education. The study shows that just over 37 percent of residents in the region have earned a bachelor’s degree or higher. When compared to Texas cities with more than 100,000 residents, AllianceTexas is one of the top five communities attracting individuals with a college degree.
Higher education has led to higher incomes at AllianceTexas. The median household income increased by 17 percent, to $85,353. This is significantly higher than both the national median household income at $51,914 and the Texas median household income at $49,646.
The demographic study by Research and Demographic Solutions reviewed demographic trends from 2000-2010 for a 108,000-acre area identified as the AllianceTexas Area of Interest (AOI). The AOI includes portions of Denton and Tarrant Counties. It is bounded by the Wise County line to the west; Grapevine Lake to the east; Justin, Texas to the north; and Northwest Loop 820 to the south.
AllianceTexas (http://www.alliancetexas.com/) is a 17,000-acre, master-planned community anchored by the world’s first industrial airport. It includes the Alliance Global Logistics Hub, Circle T Ranch, Heritage, Alliance Town Center, Saratoga and Monterra Village projects. AllianceTexas is now home to over 300 companies, which have built nearly 32 million square feet and created more than 30,000 jobs. The community also now includes more than 7,700 single-family homes and 288 luxury apartment homes. Since its inception, AllianceTexas has generated $40.65 billion in economic impact for the North Texas region.
Hillwood, a Perot company, is ranked as one of the top commercial real estate investors and developers in the country and as the top residential developer in Dallas-Fort Worth. Hillwood is best known for its Alliance brand that includes the 17,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center and 2,000-acre AllianceCalifornia developments. For additional information about the company, please visit http://www.hillwood.com/.
ABOUT RESEARCH AND DEMOGRAPHIC SOLUTIONS (RDS)
Research and Demographic Solutions (RDS) is a professional consulting firm that specializes in demographic research and analysis specializing in household, population and employment estimates and forecasting. RDS staff uses Geographic Information Services (GIS) for planning, demographic and mapping solutions. Our mission is to provide outstanding data, unmatched service and innovative GIS techniques that ensure accurate planning and forecasting decisions.