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

Spread the love

Newly Built House in Fort Worth - 5432 Willard Road, Fort Worth, TX76119 - 4 Bed and 2 Baths with 2 Attached Garages on Gross Floor Area 1,725 sqft - Built in 2022 - Price $325,000

Newly Built House in Fort Worth – 6432 Willard Road, Fort Worth, TX76119 – 4 Bed and 2 Baths with 2 Attached Garages on Gross Floor Area 1,725 sqft – Built in 2022 – Price $325,000

Residential Construction Market Analysis in the City of Fort Worth. USA

Building costs are 2% above the national average in the City of Fort Worth in Texas. There are times when the more we think about the real estate market, the more we realize how changeable it is, and how difficult it is to predict something. The pandemic taught us that everything can change in a second and turn the tables on what we had in mind, but even so, there are some stable values ​​or factors that help us analyze the market.

These values ​​are usually general in a country, state, or region, so it is important to focus on those that have to do with the particular territory that matters to you. Knowledge is always essential to know what movement you should do and how, so you must be informed in anything you do.

Buying a property or a house to live in is one of the riskiest moves, but it can turn out very well, so you must do it without fear but carefully. In this article, we will tell you everything you need to know about the real estate market and residential construction in Fort Worth, the beautiful city in Texas.

So keep reading to learn more about the values ​​of the real estate market, what is expected to happen in the coming months or years, the current construction outlook, and residential construction projects so that you know what the image of the city is to come.

Fort Worth Construction Outlook

Texas is a central state in the United States, even though it is in the south of the country. It is always a state that serves as a reference, whether for industry, economy, or politics. In addition, it is a state that has several large cities, such as Houston, Dallas, Austin, San Antonio, and the list goes on. One of its large cities is Fort Worth, which is located in Tarrant, Denton counties, and part of the Dallas-Fort Worth metroplex.

In this city you will find some big buildings, there are even a couple of skyscrapers. This is not surprising since a little more than 7 million people live in this city, so buildings are the best tool to house a larger number of people.

Among its most central places, Sundance Square stands out, which is a referential center of the city of more than 20 blocks, with buildings, bars, restaurants, boutiques, and everything you can imagine. Among his best-known skyscrapers, even with some referenced in popular culture, are Burnett Plaza, D.R. Horton Tower, The Tower, and Carter+Burgess Plaza built in the 1980s, in addition to the Omni Convention Center Hotel built in the last two decades.

See also  Building Costs Per Square Foot in the State of Oklahoma, USA

On the outskirts of the city center, you will find different residential neighborhoods, some more luxurious and others for middle-class families. Also in the neighborhoods surrounding the University, you can find frat houses and sororities, although unless you are a university student we recommend you avoid them.

Fort Worth Housing Market Analysis and Forecast

The state of Texas in general always attracts thousands of people who are looking for a change of life or to live in big cities but do not have the budget to go to others like New York, Chicago, or LA. Also, unlike in these cities, taxes here are much lower, which makes even millionaires seek to live here.

Although Fort Worth does not attract these tycoons (to live, it does attract them to invest), there are families or middle-class people who choose to move to the city, causing the real estate market to grow constantly.

The average time of sale of a house is 15 days, and it is a fairly stable number that has practically not changed in the last 3 years. It is a much lower number than the national average, which varies between 40 and 60 days.

Although the number of property values ​​has increased by 20% in the last year, the number of sales has not increased. In fact, 9% fewer homes were sold this year compared to last year. This decrease has to do with the fact that there are fewer houses listed, not because there is less interest in people.

Fort Worth Average House Price (Median Home Price)

The median home value is $330,000 in Fort Worth. Remember that this is an average number, so you can find higher or lower values in different neighborhoods of the city. If you go to the outskirts of the city, the average number drops to $290,000.

Also, be aware that this value is made up of single-family homes. The median condo-coop value is $295,000, dropping to $200,000 if you’re outside of town.

When it comes to apartments, you can find an average value of $190,000. Always keep in mind that all numbers are average, so there may be more expensive or cheaper properties.

Proposed Residential Building Projects in Fort Worth

Fort Worth is a changing city, growing from the very moment it was founded, so there is a wide variety of residential construction projects prepared.

See also  Building Cost Per Square Foot in City of Anniston, Alabama, USA - Class 2 Semi Luxury Single Family Homes, 4 Corner House.

One of the most striking is in the areas near the Dallas-Fort Worth International Airport. These are residential houses, designed for families of people who work at the airport, from employees on the premises to stewardesses and plane pilots. Some of these houses will be for rent, so they are designed for tourists who come temporarily and prefer to stay near the airport.

There are also some houses and small buildings under construction around the Texas Christian University, which is based in this city. These houses are also intended to be put up for rent and for students who attend this university to come and live temporarily.

In the center of Fort Worth, there are some skyscrapers in projection, some are completely residential and others are a mixture between residential apartments and offices, although they are separated internally to avoid any type of confusion.

Newly Built Home in Fort Worth - 1305 N Sylvania Avenue, Fort Worth, TX76111 - 4 Bed and 3 Baths with 2 Attached Garages on Gross Floor Area 1,959 sqft - Built in 2021 - Price $469,900

Newly Built Home in Fort Worth – 1305 N Sylvania Avenue, Fort Worth, TX76111 – 4 Bed and 3 Baths with 2 Attached Garages on Gross Floor Area 1,959 sqft – Built in 2021 – Price $469,900

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

Building costs are 2% above the national average in the City of Fort Worth in Texas.

Class 1 – Luxury Single Family Homes

The building cost per square foot for luxury private homes in Fort Worth City ranges from $351.79 per sqft to $539.27 per sqft, with the average being $415.16 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 Fort Worth City ranges from $213.80 per sqft to $327.73 per sqft, with the average being $252.31 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 Fort Worth City ranges from $138.21 per sqft to $209.93 per sqft, with the average being $161.81 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.

See also  Building Costs Per Square Foot in the State of South Dakota, USA

Class 4 – Good Standard Single Family Homes

The building cost per square foot for good-standard private homes in Fort Worth City ranges from $100.87 per sqft to $154.68 per sqft, with the average being $119.04 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 Fort Worth City ranges from $81.88 per sqft to $125.39 per sqft, with the average being $96.55 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 Fort Worth City ranges from $64.58 per sqft to $98.98 per sqft, with the average being $76.18 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.

 


Spread the love