Grapevine, TX is a mid-sized city in Texas that falls in the Tarrant, Denton, and Dallas counties. Considered a suburb of the Dallas-Fort Worth metro area, the city is centrally located to the downtown areas of both Dallas and Fort Worth, approximately 22 to 24 miles away from each.
A popular area for families, Grapevine has numerous opportunities for outdoor recreation, including Lake Grapevine, an 8,000-acre lake with over 19 miles of wilderness trails and over 22 miles of paths for hikers, bikers, and runners around the city (Grapevine received the Runner Friendly Community designation from the Road Runners of America).
Also known as a popular holiday destination, Grapevine is known as the “Christmas Capital of Texas” and hosts over 1,400 holiday-themed events each year.
Grapevine, TX Real Estate
The median listing price in Grapevine, TX is $430,000 and has been climbing steadily for years (in 2014, the median listing price was right under $300,000). However, there are still deals to be found.
Rent is also significantly higher in Grapevine than in other areas of Texas, with the median rent falling at $1,950 per month.
Purchasing real estate in Grapevine, TX is a great investment. Because there aren’t as many rental units on the market, there is less competition. And the higher rents in Grapevine will allow investors to become more profitable on each investment.
History of Grapevine
Grapevine was first established in late 1883, when General Sam Houston and a group of Republic of Texas Commissioners set up camp at Grape Vine Springs to meet with leaders from 10 nearby Indian nations to negotiate a peace treaty. The meeting was successful, and the treaty of “peace, friendship, and commerce” opened the door for settlers in the area. The settlers decided to call the area Grape Vine after nearby Grape Vine Prairie and Grape Vine Springs (which were named after the wild grapes that grew abundantly in the area).
By 1890, Grape Vine was flourishing, with nearly 1,000 residents and a growing economy, which included a newspaper, a post office, a railroad service, and multiple cotton gins. The settlers also opened a public school to accommodate the growing youth population.
The settlement continued to grow, and in early 1914 the post office officially changed the name from “Grape Vine” to “Grapevine”, which it is still known as today.
Between World War I and World War II, the population in Grapevine stayed fairly stagnant, but economic growth was steady thanks to an influx in cantaloupe farms (the city boasted 25,000 acres of cantaloupe farms and was known as the “Cantaloupe Capital of the World” until the early 1970s).
The opening of the Dallas-Fort Worth International Airport in the mid 1970s ushered in a period of massive growth and development in the area, including in Grapevine. Thanks to its proximity to the airport, Grapevine transitioned from being a mostly agricultural city to a regional center of commerce with a booming economy.
As of 2014, Grapevine, TX has a population of 50,844 citizens, which is up 20.9% from 2000. The population is split nearly evenly between genders, with 51.4% of the population being female and 48.6% being male.
Grapevine is a predominantly Caucasian city with 66.2% of its population identifying as white, but there is also a thriving Hispanic community at 22.5%. The remainder of the population identifies as Asian (4.3%), African American (2.7%), two or more races (2.8%), and American Indian (.3%).
Grapevine, TX has a median age of 38.1, which is 12% higher than the median age in the state of Texas. As of 2015, the median household income for Grapevine was $81,812, which is significantly higher than the median income for the state of Texas, which was $55,653 the same year.
Education and Schools
Grapevine has an excellent school system, making it a major draw for both families and investors. The majority of Grapevine is served by the Grapevine-Colleyville Independent School District, which is recognized by the Texas Education Agency, a branch of the state government responsible for public education (small pockets of the city are served by Carroll, Lewisville, and Coppell Independent School Districts).
Grapevine-Colleyville ISD has 11 elementary schools, two middle schools, and two high schools. Grapevine High School, one of the high schools within the district, has been named both a National Blue Ribbon School and a New American High School and was recognized as one of the top 100 high schools in America by Newsweek in 2007, coming in at #41.
Job Growth and Economy
Property management in Grapevine, TX is an attractive opportunity for investors, thanks in part to its bustling economy. Grapevine has an unemployment rate of 3.4%, which is just over half of the national unemployment rate of 6.3%. Job growth over the next ten years is forecast at nearly 40%, which is a huge draw for both commercial and residential investments.
The majority of residents in Grapevine, TX work in either management, business, and finance (24.8%) or sales, office, and administrative support (24.84%). There are also large sectors of the population that work in production and transportation (8.33%), food preparation and serving (8.04%), and engineering and computer science (7.43%).
Top employers in Grapevine, TX include Dallas/Fort Worth International Airport, video game retailer Game Stop (whose corporate headquarters is located in Grapevine), United Parcel Service, and Grapevine-Colleyville Independent School District.
The solid economy and job growth forecast make Grapevine property management a safe choice for investors; people move to areas where jobs are plentiful, and Grapevine’s healthy job growth in the upcoming years will continue to attract people looking to establish or build their careers.
Noteworthy Facts About Grapevine
Here are some other noteworthy facts about Grapevine:
- In keeping tradition with its name, Grapevine is home to multiple wineries. People come from all over the state and country to visit Grapevine’s Urban Wine Trail, which hosts daily wine tasting and special wine-themed events throughout the year.
- The Historic Palace Theater, which was built in 1940, is home to the Grapevine Opry, which has hosted some of country music’s biggest names over the years, including Miranda Lambert and LeAnn Rimes.
- Grapevine was named a World Festival and Event City in 2012 by the International Festival and Events Association.
- Grapevine gained notoriety in 1934, when criminal Henry Methvin, along with his associates, the notorious criminal icons Bonnie Parker and Clyde Barrow, gunned down two police officers on Easter Sunday at the intersection of Dove Road and State Highway 114. A historical marker stands to this day to commemorate the event and its historical significance.
- Each year, Grapevine hosts the People’s Choice Wine Tasting Classic. Held during the city’s GrapeFest wine-tasting conference, the event is the world’s largest consumer-judged wine competition.
- Grapevine Vintage Railroad’s Steam Engine 2248 (known to locals as “Puffy”) is the South’s oldest continuously operated steam engine.
Looking to Buy Real Estate in Grapevine, TX?
If you’re looking to invest in real estate, Grapevine, TX is a fantastic choice. The healthy economy, high household incomes, and lack of competition in the rental market make the city an attractive choice for investors.
Before you purchase property, be sure to do your research on the neighborhoods and current real estate market in Grapevine. Getting a full understanding of the area will help you find the investment that best fits your long-term financial goals.
Once you’ve secured a rental property, it will definitely be in your best interest to connect with a Grapevine, TX property management company. Managing a rental property is a full-time job, and having a professional company with experience in property management manage the entire process for you can make the entire endeavor less stressful for you as an investor.
Investing in property is a big decision and before you commit, you need to be sure it’s the right fit for you and your investment business. But if you decide you’re ready to invest, there’s no area better than Grapevine, TX.
If you have any questions about investing in the Grapevine, TX area or partnering with a Grapevine, TX property management company, please don’t hesitate to reach out to LEAP Property Management. Our client-centric approach to property management and direct experience in managing multiple properties in the Grapevine area will be an invaluable asset to you throughout the investment and ownership process.