Building Costs Per Square Foot in the City of Arlington (TX), USA

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Residential Construction Market Analysis in the City of Arlington (TX), USA

Newly Built House in Arlington - 2009 Hill Country CT TX-76012 - 5 Bedrooms and 5 Bathrooms with 4 Attached Garages on Gross Floor Area 4,438 sqft - Built in 2021 - Price $1,199,000 (2)

Newly Built House in Arlington – 2009 Hill Country CT TX-76012 – 5 Bedrooms and 5 Bathrooms with 4 Attached Garages on Gross Floor Area 4,438 sqft – Built in 2021 – Price $1,199,000 (2)

Building costs are 1% above the national average in the City of Arlington in Texas. Who does not dream of having a typical home? Or with becoming the tycoon of the real estate market? For both, Texas can seem like an intimidating state, so you can start by trying one of its smaller cities.

For this, Arlington comes to the rescue. With affordable properties and exponential growth in recent years, this city has it all. Continue reading the article to learn more about its real estate market, and how you can get into it yourself.

Arlington (TX) Construction Outlook

Arlington is a thriving city, which is looking to stand out and escape from the shadow of the other big cities in Texas, such as Dallas, Houston, and Austin. This is not an easy task, but they did manage to make the construction outlook of the city change considerably in the last decade.

They are no longer all neighborhoods of houses, but Arlington has a downtown worthy of any big city. There you will find some buildings and several townhouses, but most with renovated facades to modernize and adjust to the new tastes of the people in the area.

The townhouses are the real stars, and the icons of the city are the stadiums of the Dallas Cowboys and Texas Rangers. Around them there are some hotels and other condominiums, the houses are a few blocks away from all that chaos.

Arlington (TX) Housing Market Analysis and Forecast

Arlington is the newly hot city in Texas. The other major cities in the state, such as Dallas, Austin, and Houston also saw large numbers and growth in their real estate market, which indirectly helped improve Arlington’s situation.

This city, which was a small town just a few years ago, saw a 10% increase in its overall property value. However, some types of properties increased in value by more than 90%, although we will talk about them later.

The average sale of properties dropped by 30% this year. In October 2022, 268 residential properties were sold while in the same month in 2021, 390 properties were sold. This is mostly due to an increase in the number of properties listed for sale, but nothing to worry about.

There is constant demand and supply in the Arlington real estate market, so there are no major downtimes at any time of the year. There weren’t even any significant price drops during the winter months, which are historically low for the Texas real estate market.

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Properties take an average of 30 days to sell, which is 9 days longer than it took in the same period last year. However, the Arlington average is much better than the national average, and if the property is new or in good condition then it will sell quickly.

Arlington (TX) Average House Price (Median Home Price)

The median home price in the city of Arlington (TX) is $337,000 with an increase of 10.6% compared to last year. Its number in general remained stable during 2022, but what is surprising is that it has been rising steadily for the last 5 years.

Remember that the median home price is obtained from the values ​​of all the properties listed for sale in the real estate market (those properties that are residential, and the others are not included in this average), so it can vary depending on the type of property. property that it is and where it is located.

To give you an idea, single-family homes have an average value of $338,000 in Arlington (TX), which is slightly higher than the general average, although this year there were different months in which it differed more from the general average. For example, in June of this year, the median value was $360,000 while for other properties in general it was $355,000.

In the case of the condo/co-op, these properties have an average value of $179,000, which is 33% more than the same period last year, when they were worth $134,000. This growth was quite high, thanks to the increase in demand. However, condos/co-ops continue to be more affordable in Arlington than in other Texas cities.

Lastly, townhouses have an average value of $405,000. As you can see, this average is higher than the median home price in Arlington (TX). It had an increase of 95% compared to the same period last year when these properties had an average value of $206,000.

Proposed Residential Building Projects in Arlington (TX)

In case you haven’t heard, many tech companies or start-ups are leaving Silicon Valley and moving to different parts of Texas. Many of them choose Arlington as their new home, which makes the spotlight of the new projects go to the companies. There are several projects for coworking buildings and convention centers, but the change in the Arlington skyline does not end there.

On the outskirts, some luxury houses are being built, prepared to be the homes of the new tycoons who arrive in the region but do not have the budget for a mansion in Dallas. These luxury homes are priced well above $600,000, but even then it’s cheaper than other parts of Texas when you consider what you’re getting.

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There are also some residential homes for middle-class families that are being planned in Arlington. This is because new school districts with public schools are being built to attract more families. That is why there is a construction company that is in charge of filling neighborhoods with houses for middle-class families that are like luxury houses on a scale (all the luxuries in 3 rooms.

Apart from that, in Arlington, there are some residential buildings under construction. As much as they are overshadowed by the office buildings that are coming in 2023, the residential ones also have their charm. They are taller than 15 stories and will have apartments of all sizes so that everyone can find something that suits what they are looking for.

Newly Built House in Arlington - 507 Echols Street TX-76011 - 3 Bedrooms and 2 Bathrooms with 2 x Attached Garages on Gross Floor Area 1,735 sqft - Built in 2022 - Price $375,000

Newly Built House in Arlington – 507 Echols Street TX-76011 – 3 Bedrooms and 2 Bathrooms with 2 x Attached Garages on Gross Floor Area 1,735 sqft – Built in 2022 – Price $375,000

 

Building Costs Per Square Foot for Single Family Homes in the City of Arlington (TX), USA

Building costs are 1% above the national average in the City of Arlington in Texas.

Class 1 – Luxury Single Family Homes

The building cost per square foot for luxury private homes in Arlington City ranges from $348.34 per sqft to $533.99 per sqft, with the average being $411.09 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 2 – Semi Luxury Single Family Homes

The building cost per square foot for semi-luxury private homes in Arlington City ranges from $211.71 per sqft to $324.51 per sqft, with the average being $249.83 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 3 – Best Standard Single Family Homes

The building cost per square foot for best-standard private homes in Arlington City ranges from $136.86 per sqft to $207.87 per sqft, with the average being $160.23 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

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Class 4 – Good Standard Single Family Homes

The building cost per square foot for good-standard private homes in Arlington City ranges from $99.88 per sqft to $153.17 per sqft, with the average being $117.87 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 5 – Average Standard Single Family Homes

The building cost per square foot for average-standard private homes in Arlington City ranges from $81.07 per sqft to $124.16 per sqft, with the average being $95.60 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 6 – Minimum Standard Single Family Homes

The building cost per square foot for minimum-standard private homes in Arlington City ranges from $63.94 per sqft to $98.01 per sqft, with the average being $75.43 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

 


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