Carrollton, TX Economic Overview
Located in North-Central Texas,Carrollton is part of the Dallas-Fort Worth Metroplex and home to over 133,000 people, more than 14,000 businesses and a daily workforce of over 71,000 employees. This 37-square-mile city is one of the most business-friendly in the region. Carrollton stands apart from other cities in the DFW Metroplex through its prime location, low taxes and low crime rate, high quality of life, high level of city services, and wide variety of housing choices. In addition, the competitive commercial lease rates in the city continue to be a major driver of the commercial real estate market in Carrollton, TX.
As of mid-2017, Carrollton is one of the top cities in the region for job creation, with an increase of over 3% during the previous year. The city maintains a vibrant balance between commercial business and the residential market, while the number of businesses moving to the city continues to increase. The number of commercial and industrial development projects in Carrollton is among the highest in the Metroplex, including expansions of existing business spaces.
The population of Carrollton grew by over 4% in 2016 and is projected to at the same yearly rate, over the next three years. The number of housing units has increased by over 3%, to match the growing population, and there are significant projects of both single-family and multi-family units in the pipeline. For the first time, Carrollton's assessed value of real and personal property surpassed the $12 billion mark, with industrial and commercial valuations representing an increasingly significant percentage of that amount.
Carrollton, TX Commercial Real Estate Market
The Carrollton commercial real estate market is advantaged by its immediate access to major highways, rail freight lines, and its Foreign Trade Zone designation. Additionally, the city is an affordable alternative to other higher-priced office, retail and industrial space options in the DFW Metroplex.
Carrollton's 10 largest retail centers have an occupancy rate of over 92%, due to the city's proactive approach in developing a formal Shopping Center Assessment & Retail Strategy that serves as an action plan for private sector retailers and developers of retail property, and to aid with site selection and development decisions.
Demand for office space in Carrollton continues to be strong, due to its location within the Metroplex. The largest users of office space include financial services, traditional and green energy industries, aerospace, e-commerce and telecommunications.
Carrollton’s industrial market greatly benefits from the Foreign Trade Zone designation within the city, along with its strategic location and access to highway, rail freight transportation, and to the world's first industrial airport, in Dallas.
Carrollton, TX Office Sales Volume
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Carrollton, TX Office Transactions
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Carrollton, TX Commercial Inventory Breakdown
Office Spaces
Total: 3,314,458 SF
By square footage range:
- 50k to 100k SF: 1,450,557 SF / 43.76% of total office
- 100k to 500k SF: 1,863,901 SF / 56.24% of total office
By class:
- Class A: 680,838 SF / 20.54% of total office
- Class B: 1,558,079 SF / 47.01% of total office
- Class C: 731,243 SF / 22.06% of total office
Industrial
Total: 28,516,060 SF
By square footage range:
- 50k to 100k SF: 1,872,221 SF / 6.57% of total industrial
- 100k to 500k SF: 24,234,911 SF / 84.99% of total industrial
- 500k to 1M SF: 2,408,928 SF / 8.45% of total industrial
By class:
- Class A: 7,771,762 SF / 27.25% of total industrial
- Class B: 20,270,922 SF / 71.09% of total industrial
- Class C: 473,376 SF / 1.66% of total industrial
Employment in Carrollton, TX
The quality of life in Carrollton is one of the main factors that continues to attract both workers and businesses to the area. Recently, Forbes Magazine ranked Carrollton as #12 of 'America's Best Places to Move', and the city was ranked by Zippia as the 6th-best place to retire, out of all the U.S.
In 2016, job growth in Carrollton was over 3%, and nearly 71,000 people work in the city each day, with wages averaging roughly $64,000/year. As of mid-2017, unemployment in Carrollton is below 3%.
Businesses headquartered in Carrollton include FastSigns International, Heelys, Jokari,Motel 6, Dymatize Corporation, Parks Coffee and Sleep Experts. Halliburton has its North American operations for Easywell based in Carrollton.
The top employers in Carrollton, Texas are:
- Halliburton Energy Services, with 1,300 employees;
- McKesson Corporation, with 1,000 workers;
- Western Extrusions, with 900 employees;
- JC Penny Distribution, with 750 people;
- Baylor Medical Center, with nearly 600 employees;
- AER Manufacturing and ISS Facility Services, each with 500 workers.
Education in Carrollton, TX
The public school system in Carrollton is served primarily by the Carrollton-Farmers Branch Independent School District along with the Dallas Independent School District. Private and charter schools also play a role in the primary and secondary educational system.
Residents of Carrollton benefit from the city's northern location within the Dallas-Fort Worth Metroplex, with a variety of college and university options. The University of Dallas, the University of North Texas, Texas A&M University-Commerce, Texas Wesleyan University, Richland College, Northlake College and Southern Methodist University are just a few of the institutions of higher education that are within easy driving distance of Carrollton.
Commuting Time in Carrollton, TX
Commute times in Carrollton run just over 23 minutes each way, with a small percentage of the workforce having a 'super commute' of 90 minutes or more.
Just as it did with its retail development, the city has taken a proactive approach to transit oriented development in Carrollton, which is viewed as a tremendous opportunity for residents, developers and businesses:
- Three Dallas Area Rapid Transit (DART) light rail stations link Carrollton directly to Dallas, other Metroplex cities, and the Dallas-Fort Worth International Airport (DFW);
- Carrollton's downtown light rail hub is predicted to be the fourth largest transportation hub after Downtown Dallas, Downtown Fort Worth and DFW Airport;
- Carrollton's Trinity Mills Station is the largest publicly owned transit-oriented development site in North Texas and will be a major economic driver for years to come;
- Carrollton has direct access to the Dallas/Fort Worth International Airport which is situated between Dallas and Fort Worth and is the third-busiest airport in the U.S. for operations. Four feeder or cargo airports surround the Fort Worth-area: Fort Worth Alliance Airport, Fort Worth Meacham International Airport, Fort Worth Spinks Airport and the Naval Air Station Joint Reserve Base.
Carrollton Demographics
Population
- Total Population127,279
- Male Population(49.7 %) 63,292
- Female Population(50.3 %) 63,987
- Median Age36.10
Income/Financial
- Average Household Income$88,184
- Median Household Income$69,368
- Median Income Under 25$32,957
- Median Income 25-44$68,558
- Median Income 45-64$83,196
- Median Income Over 65$50,678
- Argyle Demographics
- Bartonville Demographics
- Carrollton Demographics
- Corinth Demographics
- Cross Roads Demographics
- Denton Demographics
- Flower Mound Demographics
- Hebron Demographics
- Highland Village Demographics
- Justin Demographics
- Lewisville Demographics
- Northlake Demographics
- Ponder Demographics
- Roanoke Demographics
- Sanger Demographics
- The Colony Demographics
Residential Rents in Carrollton, TX
When choosing the best place for a business, location research is very important – not only for the office, but also for the employees’ convenience.
Over 40% of Carrollton residents rent their homes, which has created an almost unprecedented demand for residential rental housing in Carrollton, Texas. Depending on the property type, amenities and location, rents for a one-bedroom unit in Carrollton can begin at just under $1,000/month and go upwards of $4,000/ month for a three-bedroom rental.
Carrollton, TX Average Rental Price, January 2019
- $ 1,141/mo
- Studio: $ 715
- 1 Bedroom: $ 984
- 2 Bedrooms: $ 1,241
Carrollton, TX Rent Trends
News
Amazon’s search for a new home has stirred up city officials and developers across the country, and 238 applicants across North America have expressed interest in housing the company’s next headquarters. Of course, the retail giant has a few requirements: the chosen metropolitan area...
CommercialCafé is your first and only stop when it comes to commercial real estate leasings in Carrollton, TX. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 2473 square feet and 205820 square feet. Discover the right property from our 207 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.
Neighborhoods
- Argyle Commercial Real Estate
- Bartonville Commercial Real Estate
- Carrollton Commercial Real Estate
- Corinth Commercial Real Estate
- Cross Roads Commercial Real Estate
- Denton Commercial Real Estate
- Flower Mound Commercial Real Estate
- Hebron Commercial Real Estate
- Highland Village Commercial Real Estate
- Justin Commercial Real Estate
- Lewisville Commercial Real Estate
- Northlake Commercial Real Estate
- Ponder Commercial Real Estate
- Roanoke Commercial Real Estate
- Sanger Commercial Real Estate
- The Colony Commercial Real Estate
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