The charming small town of Midlothian, Texas saw immense growth in the first decade of the 21st century growing its population over 114%. With a current population of approximately 34,000 and a rising median income currently at $85,000, this city is well-positioned as a prominent destination for businesses, small and large, to prosper.
The friendly business atmosphere in Midlothian has already caught the attention of Dallas-based developer John Weber of Weber & Co. who recently purchased 53 acres of land with plans to develop a $55 million Kroger-anchored regional shopping center called Midlothian Town Center. Residential development in Midlothian has also seen a sharp increase. According to Larry Barnett, President and CEO of Midlothian Economic Development, there are currently just over 9,000 home lots in some stage of the planning process or approved by the city.
The featured properties in this month’s rent survey represent six communities in Waxahachie and Midlothian built between 1970 and 2008. Average occupancy rates for these communities range from 96% to 99%. Average rental rates range from $760 to $1,173, with average unit sizes ranging from 793 to 1,006 square feet.