The North Platinum Corridor Runs Full-Steam Ahead!
MicroBuild On Location: The North Platinum Corridor
Growth So Fast the Census Cannot Keep Up
In 2007, Gadberry noted Frisco, TX in the Dallas/Fort Worth, TX metropolitan area as one of the most notable places in the United States in terms of population and household growth, notching a population growth of 156% from 2000 to 2007.
Now, 13 years later Gadberry has identified a number of areas – continuing to include Frisco – that continue to be among the fastest growing locations in the United States. In fact, of the 31 fastest growing areas in the United States, 14 of them are in the areas primarily north and west of the DFW area.
The “North Platinum Corridor” as it has come to be called, is one of the most dynamic, fastest growth areas in the United States. Businesses looking for areas to expand and grow need the most accurate and updated data to plan for such rapid change.
In fact, the growth is so rapid that traditional, US Census-based data sources will not capture the rate of change that is occurring in a timely fashion.
MicroBuild is Change-Aware
Using our MicroBuild data, Gadberry can capture these rapid changes quickly. MicroBuild delivers counts of households and population that represent an incredibly current and precise depiction of what is really happening on the ground. Since our data is built every year using a patented build methodology equivalent to a 90%+ Census, we are able to capture changes in consumer households long before other methods.
MicroBuild is a much more powerful tool for data researchers in Retail, Real Estate, Telecommunications, Economic Development and many other industries as it does not rely on dated, decennial count numbers.
The North Platinum Corridor
Gadberry uses its MicroBuild data to study Census Places across the United States upon release of each annual vintage of MicroBuild. In looking at the 100 fastest growing Census Places across the entire United States in the past year, some insights became clear:
- 31 of the top 100 were in the state of Texas
- Nearly 50% (14) of the 31 were in the Dallas-Fort Worth (DFW) metropolitan area - rimming the metro primarily to the North and East
This graph shows the growth in MicroBuild household count since 2010 in these 14 areas. At an average growth rate across all 14 of 90% it is clear just how quickly these areas are growing and naturally becoming high focus areas for organizations and companies of all types searching for development opportunities.
4 Places With Over 100% Growth in Housing
Across the 14 areas we studied, there are 4 Notable Places that show over 100% growth in housing units since the 2010 Census.
These areas, noted in the graph below, have consistently similar demographic data in terms of household income, household net worth and length of residence.
These are clearly fast growing, high “move in” areas projected to grow at very high rates for a number of years to come.
Insights from Dana Tuggle, a RE/MAX Region Development VP, confirm that these bedroom-type communities are growing as people seek to live in communities with a small town atmospheres. Home buying preferences are shifting toward places that offer a little bit of open land and a sense of community - places where families can put down roots.
Melissa, the "City in Progress," Sees Families Move in Rapidly
Roughly one new family a day is moving into the tiny, but quickly growing, town of Melissa, Texas, according to Bill Jones, executive director of the Melissa Chamber of Commerce.
Located within the North Platinum Corridor, this Collin County town has seen most of its growth in young to middle-age residents driving daily to and from the Dallas-Fort Worth metro, according to Jones.
Jones added that Melissa’s average household income now exceeds $200,000.
MicroBuild data from the Gadberry Group confirms Jones’ assessment. Melissa’s impressive household growth rate is only outpaced by adjacent Prosper, Texas, and is among 14 in the DFW metro area showing an average 90 percent growth rate.
For more information, please visit the Melissa Chamber of Commerce.
“Our school system is exemplary, and our location provides close access to U.S. Highways 75 and 121—and right now you can probably get 10 percent more house for the money than you can in many other nearby areas,” Jones said.
Little Elm, the "Town with the Lake Attitude," Enjoys Small Town Charm
Another nearby municipality, Little Elm, Texas, has a top growth rate that almost matches that of Melissa’s—for several of the same reasons.
Like Melissa, Little Elm is near many regional destinations, as well as major roadways.
“This makes it the ideal place for those who want to enjoy small-town charm and a high quality of life,” Espinosa concluded.
For more information, visit the Little Elm Economic Development Corporation.
“Our unprecedented growth can be attributed to our affordable housing, outstanding recreational amenities, and our location in the Metroplex,” said Jennette Espinosa, executive director of the Little Elm Economic Development Corporation
At the tip of the northern reach of these areas, Celina has experienced tremendous growth. Celina's population has nearly doubled since 2010, and it has a maximum projected buildout for a population reach approximately 350,000.
Prosper’s first settlers arrived in 1846, the town was incorporated in 1914 with a population of approximately 500. It was an agricultural center and was made use of by the St. Louis and San Francisco railroad. Today, Prosper is the most affluent town in Collin County. It is home to one of the finest education systems in the state, premier emergency response and safety providers, a network of established neighborhoods, and is fast becoming the North Texas center for Pediatric Healthcare.
MicroBuild Helps Where Census & ACS Data Cannot
Population and household counts change far too quickly for census-based data sets to keep up.
MicroBuild data from Gadberry recognizes fast changes in population and household counts far faster, and with more accuracy, than traditional, census-based data sources. This impacts how accurate your business applications, which are reliant on this data, can be.
Gadberry Group’s MicroBuild data makes your location data applications smarter and more accurate, giving you the opportunity to capitalize on population change in your operations.
Gadberry Group and RE/MAX
Recently Gadberry Group has joined forces with RE/MAX.
This combination gives our teams even more power to understand the changing nature of population, household and demographic data to power location intelligence solutions.
What this Means for Businesses and Data Professionals
When location intelligence, Real Estate, Retail, Government and Research professionals look for the most updated and most accurate data for household and population counts and changes, accurate and precise data makes an enormous difference.
This is the MicroBuild Advantage.
MicroBuild’s methodology is particularly valuable for micro study areas where rates of change are high or have occurred since the most recent Census, and therefore cannot be accurately captured using traditional methods of allocating data downward.
This means that MicroBuild can identify and describe areas of rapid change in micro-geographies – it is change-aware. The result offers greater levels of precision and geographic representations of residential population density and time-series change patterns (both growth and decline) than are currently available with alternative methodologies.
MicroBuild's methodology is built on Gadberry's 20+ year history of building great data products for Location Intelligence applications.
Let's Talk About Your Location Intelligence Data Needs
When it is important to have “change aware” data that accurately indicates the “ground truth” of population moves, MicroBuild is the answer.
By not relying on Census data that decays in accuracy at a fast rate, MicroBuild gives data and research professionals a more true, more accurate and more precise data set to feed all types of location intelligence applications. Let’s talk today.
A Note About Census Place:
In this Study Gadberry Group is using Census Place boundaries, which may not always correspond 100% with town or city defined boundaries. Census Place is a commonly used boundary shape used by the Census Bureau for statistical analysis, and Gadberry’s analytical tools use this boundary to aid in our work for research such as this and in our client projects to draw meaningful comparisons with other data sources our clients may license.
Resources and further reading:
Gadberry Group's MicroBuild Data's latest vintage is the source for all data in the charts above.
The following sources and links provide great amount of context and understanding for the data changes MicroBuild helps bring to light. Each of these was used in developing the above content.
- RE/MAX and Gadberry Group
- The Frisco North Platinum Corridor
- About Celina, TX
- Frisco and the 5 Billion Dollar Mile
- Insiders Guide to the North Platinum Corridor
- City of Melissa Economic Development
- Prosper is One of DFWs Fastest Growing Cities
- Planning for the Future of Prosper’s Downtown
- Why Did Dallas Grow North