The Denton Independent School District board of trustees received their quarterly growth report at the last school board meeting. The Q1 report from Templeton Demographics highlights current district growth patterns as well as future lot development within Denton ISD’s 180 square mile boundary. There are also some interesting statistics on Denton home prices and Denton homes for sale.
Some of the more interesting highlights from the demographic report include:
- Student Enrollment within Denton ISD stands at 29,420
- Unemployment rate of 3.2% within Denton ISD, compared to 3.7% for the DFW MSA
- Over 32,000 future new homes projected
- Denton ISD has almost 3000 lots to build on
- Denton ISD has more than 27,700 planned future lots with groundwork on nearly 3400 underway
- Denton ISD’s new home inventory is at 6 months of supply
- Denton ISD currently ranks 3rd for new home closings, behind Prosper ISD & Frisco ISD
New housing development continues to thrive within the boundaries of Denton ISD. Affordable homes are a big part of the reason why Denton continues to grow. In the breakdown of housing activity by price range you can see that the largest percentage of homes sold within the district in the last 12 months fall in the $250,000 to $299,000 price range. The sub $250K price segment isn’t far behind and sales volume in the $300K-$349K price rage is also significant.
According to the Q1 report the average price of a new home in Denton ISD during the last 12 months was $306,113 while the average existing home price in Denton ISD was $271,837. This is a much smaller price difference that what you see in other major DFW submarkets. If builders and developers can continue to bring more affordable housing stock to the market, Denton ISD will likely continue to see healthy growth rates and development.
The distribution of recent new home closings shows that the hottest area in Denton ISD has been along the 380 corridor in communities like Paloma Creek, Savannah and Union Park and Arrowbrooke, areas feeding into Braswell High School. There are also a sizeable number of lots within the future Sandbrock Ranch development. As those areas build out, there will be more lots coming online along the west side of the district near Robson Ranch and the future Cole Ranch development. The new Denton High School campus in the Razor Ranch area will no doubt spur additional development in that area as well.
With home prices at record highs and the prospect of higher interest rates, Denton’s affordability is looking more and more appealing compared to other areas of Dallas-Fort Worth.