Real estate wealth supports Texas economyReal estate wealth supports Texas economyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=92762012-10-19T08:21:00Z2012-10-18T00:00:00Z

TEXAS - Texas’ real estate wealth in 2011 was valued at $1.6 trillion or $65,432 or $65,432 worth of real estate for every Texan, regardless of age, according to the Real Estate Center at Texas A&M University. That represents an 86.7 percent increase from the $35,055 per capita in 1997.

Real estate is the state’s second largest industry, according to Dr. Ali Anari, research economist with the Center. In 2011, the industry accounted for 8.4 percent of the state’s gross domestic product. Only manufacturing, at 14.7 percent of GDP, is larger.

Here’s a breakdown of Texas’ real estate wealth.

Real Estate Wealth 2011
Category Value
Single-family housing $945.1 billion
Commercial real estate $279 billion
Multifamily residential $85.1 billion
Mineral real estate $106 billion
Industrial real estate $95 billion
Rural acreage $80.3 billion
Utility company properties $50 billion
Vacant lots $39.5 billion

Including the self-employed, 521,684 Texans worked in real estate in 2011, some 3.6 percent of total statewide employment. In 2010, the four largest Texas metropolitan areas accounted for 81.4 percent of real estate employment.

Source: Real Estate Center at Texas A&M University

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