{{titleBar.title}}

{{titleBar.tagline}}

 

 

Jobs outpace homes, more than ever commuting to Plano Jobs outpace homes, more than ever commuting to Plano https://www.recenter.tamu.edu/news/newstalk-texas/?Item=214752018-11-20T06:00:00Z2018-11-21T00:00:00Z

​​PLANO – New housing units haven't kept pace with the city's job growth, pushing more people to live outside the city and commute to work, according to the "City of Plano Housing Trends Analysis​" by Economic & Planning Systems Inc.

Here are some findings from the plan: 

  • Betwee​n 2002 and 2015, the city added around 84,000 jobs, or about 6,500 a​ year. But between 2000 and​ 2016, the city added only about 25,000 h​ou​seholds, a rate of nearly 1,600 a year. This imbalance in supply and demand affects affordability.
  • More of the city's workforce is commuting. In 2002, around 2,000 workers lived outside of the city. By 2015, that number ballooned to 59,000 workers.
  • The surge in commuters is affecting traffic. In 2007, about 28 local lane miles were at or above 100 percent volume over capacity. By 2017, there were 140 lane miles at that level. 
  • The city's residents are getting older. In 2000, more than half of the city's residents were under 35 years old. About 12 percent of the population was 55 or older. By 2016, less than 45 percent of the city's residents were younger than 35 and the over-55 population was about 24 percent.
  • New mortgage investments have declined. About 80 percent of local owner households held a mortgage in 2005. By 2016, that number dropped to 67 percent.
Dallas Morning News
Dallas-Fort Worth-Arlington
Economy
https://www.dallasnews.com/news/plano/2018/11/16/5-takeaways-latest-housing-trends-planoRead more at the {Source}

 Search NewsTalk Texas