If you are looking to rent commercial property in 2022 and beyond, you need to be aware of the population shifts happening in the United States. In this article, we will talk about those shifts, and how they might affect you, a business owner looking for retail space for lease, a shop for rent, or an office space to rent.
We are RDS Real Estate, serving the Greater Fort Worth area with outstanding industrial property and commercial property for rent. Call us at 817-439-3224 for more information about quality commercial real estate in the Fort Worth area.
Now, though, let’s talk about population shifts and how they will affect your business in the near future.
Major population shifts happening as we speak
Let’s look at the three major population shifts happening in the U.S. today, as recognized from data gathered in the 2020 Census.
Although white Americans still hold the #1 spot among ethnic groupings, their percentage is dropping rapidly, a full 9% since 2010. More Hispanics, more Blacks, and more Asians are eating away at the once dominant hold of white Americans. The United States is truly becoming a melting pot, and more homogenous by the day, it would seem.
In 2007, a full 87% of the U.S. population lived in major urban areas. That number is rapidly declining, and cities like Los Angeles, New York, Chicago, and San Francisco are seeing their numbers diminish with each year. Similarly, areas just outside of those major urban hubs, more rural areas, are seeing large increases in population.
More than three-fourths of Americans are age 18 and older, the largest percentage in the history of this country. The Baby Boomer generation has gotten older, but they were not replaced in comparable numbers. To put it mildly, couples are having fewer children today than they were ten years ago.
Traditional commercial real estate locations are losing relevance
What does this mean for the commercial real estate industry? To answer that question, more space than this article allows is needed. However, these population shifts are worth noting. Traditional hotbeds for commercial real estate, like the downtown corridors in major cities, are no longer hotbeds. We certainly see that in our own Fort Worth. Where once the heartbeat of Fort Worth was found downtown, now the fastest-growing commercial and industrial area is the Alliance Area, just north of the downtown area. New areas like the Fort Worth Design District are where the future of Fort Worth will be located, sooner rather than later.
Get ahead of the shift now
What is the nature of your business, and how will your business be affected by these population shifts? Would you benefit by relocating to a more rural area? Where will the older population members be locating, and does that affect your business? And what about the ethnic diversity? Where will the Asian population settle? The Hispanic? The Black? How will that affect your business?
The savvy business owner is aware of these things when looking at commercial property for lease, and is making plans to meet these shifts head-on. Change is inevitable. The wise business owner will embrace change and make that change work for them.
A final word about RDS Real Estate
When it comes to understanding the commercial and industrial shifts in the Fort Worth area, RDS Real Estate is the company to rely upon. Call us and put us to work for you. We are locally owned and operated, and we can find you commercial property for rent which will best work for your unique needs.