Wells Fargo: Texas Labor Market Update

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We’ve previously identified Dallas-Fort Worth as an attractive area for investing in a rental property, and we analyzed the market in detail in our March Newsletter. Of course, revenue projections for a rental property can quickly go south if the local economy falls into a recession. Fortunately, the latest jobs report from Texas shows continued strength. Here’s Wells Fargo:

Texas has resumed its place as the nation’s top job market. Employers added 51,300 net new jobs across the Lone Star State in January, which is by far the largest gain of any state. Hiring roared back at the start of the year, as drilling picked up and the lone headwind facing the state, falling oil and gas related jobs, finally turned around in a major way.

On the Dallas-Fort Worth area in particular:

Dallas continues to be the strongest job market in the state, adding 13,100 jobs in January and 106,200 jobs over the past year. Hiring also rose solidly in Fort Worth, which added 7,300 jobs in January and 29,100 jobs over the past year.