Aug. 14, 2013/Release No. 16-0813
COLLEGE STATION, Tex. (Real Estate Center) – In the next 40 years, Texas will add twice as many people than it did in the previous 40. That’s especially good news for home builders, real estate agents and property managers.
“Texas is projected to add around 30 million residents, an increase of nearly 120 percent, over the next four decades,” said Dr. Jim Gaines, research economist with the Real Estate Center in the Mays Business School at Texas A&M University. “This will severely impact the need for new housing and a slew of other goods and services.”
At the long-term average of 2.849 people per household, Gaines calculates 10.5 million new housing units will be needed.
“No place in Texas will grow more than the big cities,” he said. “The long-term outlook calls for the ongoing urbanization of the state.”
- The Dallas-Fort Worth Consolidated Metropolitan Statistical Area (MSA) is projected to expand to nearly 16.8 million in 2050. That is an increase of 163 percent from 2010.
- The Houston-Sugar Land-Baytown MSA will swell to more than 14.9 million, a growth rate of more than 143 percent.
- Population of the Austin-Round Rock-San Marcos MSA is expected to more than triple to more than 5.3 million.
- The San Antonio-New Braunfels MSA’s population will hit 4.2 million, double what it was in 2010.
In 2010, more than 64 percent of the state’s population lived in one of the four major metros. By 2050, nearly three-quarters of all Texans will live there.
Real Estate Center
Gary Maler, 979-845-9691 (director)
Dr. Ali Anari, 979-845-2094 (econometrics)
Dr. Mark Dotzour, 979-862-6292 (chief economist)
Attorney Judon Fambrough, 979-845-2007 (legal issues)
Dr. James Gaines, 979-845-2079 (residential)
Dr. Charles Gilliland, 979-845-2080 (rural land)
Dr. Harold Hunt, 979-847-9021 (commercial)
Dr. Luis Torres, 979-845-7972 (econometrics)
For information on the Real Estate Center, contact Senior Editor David S. Jones at 979-845-2039 (voice), 979-845-0460 (fax) or email@example.com. Or contact Associate Editor Bryan Pope, 979-845-2088 (office) or firstname.lastname@example.org.
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