The characteristics of an area have a huge impact on demographics. There are a lot of people, both residents and city planners alike, who look ahead to try and predict what life will be like at some future time.What businesses will still be in the area? Which ones will dry up, move, or close for some other reason?
In the year 2000, people might not have guessed that corporations like State Farm and Toyota would someday move their headquarters to North Texas, for example. Both of these companies, however chose to do just that. As a result, a large number of employees were required to relocate to the Dallas-Fort Worth area to keep their jobs.
The diversity in Northern Texas is changing. Younger people are moving into the area at a rapid pace. There are more births than deaths in the area, which also has an impact on the diversity of the people who live in this area of the state. A strong economy, which is projected due to the number of corporations moving their businesses into the area, will continue to bring new people.
All of these people will affect the housing market. There could be as many as 1.5 million new households within the next 15 years, for a total of 4 million new residents across the entire northern area of the state. Of course, a change in circumstances could cause the forecast to swing in either direction, causing either far less or far more people to move into the area.
One thing is for certain and that is the need for more homes. It will not only cause a need for more homes, but also for the type of homes. Aging homeowners will look at downsizing to something smaller, like a condominium or rancher in a retirement village. Because there are more of the young families who need big homes than the number of residents downsizing, there will also be a need for more single-family homes as well.
More people moving into the area also means the need for more eco-friendly homes that respect the local ecosystems. It will be necessary to respect the current wildlife and vegetation while expanding neighborhoods into formerly rural areas to encourage the lowest possible carbon footprint. Failure to meet this goal could result in a negative impact, not only on the ecosystem but also on the economy.
Transportation measures would also need to be planned to accommodate all these people who are expected to move into the area by 2030. Over the next 15 years, city and county officials will be required to plan, fund, construct, and operate roadways, railways, and other venues that allow people to travel from one place to another across and through northern Texas. It is sure to look much different than the area does in 2015.