Real Estate Market Overview 2004
Texarkana
Texarkana's name comes from three state names: Texas, Arkansas and Louisiana. The city is located in both Bowie
County, Texas, and Miller County, Arkansas. Texarkana, Texas, and Texarkana, Arkansas, are referred to as the
State Line Cities because the cities' main thoroughfare, State Line Avenue, is the Arkansas-Texas border.
Texarkana, Texas, encompasses 21 square miles and Texarkana, Arkansas, contains 16.5 square miles. The town is
25 miles north of the Louisiana border and 28 miles south of the Oklahoma boundary line.
Quick Facts
Land Area 1,511.85 square miles
Population Density (2000) 85 people per square mile
Counties Bowie (Texas), Miller (Arkansas)
Area Cities and Towns Texarkana (Arkansas), Texarkana (Texas), Boston,
Hooks, Leary, Nash, New Boston, Old Boston, Wake
Village, Wamba
Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Table of Contents
Demographics ..............................................................................................3
Education .....................................................................................................7
Employment .................................................................................................8
Economy ....................................................................................................13
Infrastructure ..............................................................................................14
Public Facilities ..........................................................................................15
Multifamily ..................................................................................................16
Housing ......................................................................................................18
Retail ..........................................................................................................20
Hotel...........................................................................................................21
Office..........................................................................................................22
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Demographics
Texarkana MSA Population
Percent
Year Population Change
1990 120,132 0.2
1991 121,285 1
1992 122,364 0.9
1993 123,857 1.2
1994 125,290 1.2
1995 126,220 0.7
1996 127,694 1.2
1997 128,258 0.4
1998 128,718 0.4
1999 129,486 0.6
2000 129,749 0.2
2001 130,331 0.4
2002 131,027 0.5
Source: U.S. Census Bureau
County Population Growth
Growth 1990 - 2002
County 1990 Population 2002 Population (percent)
Bowie (Texas) 81,665 89,894 10.1
Miller (Arkansas) 38,467 41,133 6.9
Source: U.S. Census Bureau
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texas Metropolitan Area Population Change, 1990 - 2002
1990 2002 Percent
Metropolitan Area Population Population Change
McAllen-Edinburg-Mission 383,545 614,474 60.2
Austin-San Marcos 846,227 1,349,291 59.4
Laredo 133,239 207,611 55.8
Dallas 2,676,248 3,743,254 39.9
Brownsville-Harlingen-San Benito 260,120 353,561 35.9
Brazoria County 191,707 257,256 34.2
Houston 3,321,911 4,420,081 33.1
Fort Worth-Arlington 1,361,034 1,802,465 32.4
Texas 16,986,335 21,779,893 28.2
Bryan-College Station 121,862 156,099 28.1
San Antonio 1,324,749 1,660,205 25.3
Killeen-Temple 255,299 319,163 25.0
Galveston-Texas City 217,396 261,219 20.2
Tyler 151,309 181,437 19.9
Sherman-Denison 95,019 113,860 19.8
Amarillo 187,514 222,915 18.9
El Paso 591,610 697,562 17.9
Waco 189,123 217,713 15.1
Victoria 74,361 84,932 14.2
Lubbock 222,636 247,574 11.2
Longview-Marshall 193,801 212,288 9.5
Corpus Christi 349,894 382,188 9.2
Texarkana 120,132 131,027 9.1
Wichita Falls 130,351 138,960 6.6
Odessa-Midland 225,545 239,981 6.4
Beaumont-Port Arthur 361,218 382,242 5.8
Abilene 119,655 125,647 5.0
San Angelo 98,458 103,018 4.6
Source: U.S. Census Bureau
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Bowie County Projected Population
Texas State
Data Center Texas Wate
Year (Scenario 0.5) Development Board
2005 90,397 -
2010 91,258 99,801
2015 91,836 -
2020 91,861 107,853
Sources: Texas State Data Center and Texas Water Development Board
Household Composition
Bowie County Texas
Average household size (2000) 2.50 2.74
Population younger than 18 (2000, in percent) 24.8 28.2
Population 65 and older (2000, in percent) 13.8 9.9
Source: U.S. Census Bureau
Distribution by Race and Hispanic or Latino Origin
(in percent)
Bowie County Texas
1990 2000 1990 2000
White 75.4 73.3 60.8 71.0
Black 21.8 23.4 11.7 11.5
Asian 0.4 0.4 0.3 2.7
American Indian 0.6 0.6 1.8 0.6
Other 0.1 1.1 0.1 11.7
Two or more races* - 1.1 - 2.5
Hispanic (of any race) 1.7 4.5 25.3 32.0
* For the 2000 Census, the Census Bureau changed the "race" options,
allowing people to report their race as "other" or as two or more races.
Source: U.S. Census Bureau
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Projected Population Growth, 2000-2020
(in percent)
Source: Texas State Data Center (Scenario 0.5)
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Education
Educational Level, Persons Age 25 and Older
2000 (in percent)
Level of Education Bowie County Texas
High school graduate 31.8 26.3
Some college, no degree 24.2 21.7
Associate's degree 5.2 5.2
Bachelor's degree 10.1 16.1
Graduate or professional degree 6.0 7.4
Source: U.S. Census Bureau, 2000 Census
Local College and University Enrollment
Fall Spring Fall Spring
School 2002 2003 2003 2004*
Texarkana College 3,538 3,482 3,988 3,667
Texas A&M University - Texarkana 1,367 1,411 1,429 1,539
Sources: Educational institutions
*Preliminary number
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Employment
Top Ten Employers
Employer Sector Employees
Red River Army Depot Manufacturers/Processors 2,700
Cooper Tire and Rubber Manufacturing of passenger tires 1,860
Christus St. Michael Hospital Health care 1,700
Wadley Regional Medical Center Health care 1,450
Domtar, Inc. Fine finished papers 1,250
Texarkana, AR, Independent School District Education 1,100
Wal-Mart, Sam's Club Retail 1,036
Texarkana, TX, Independent School District Education 968
International Paper Cup and diaper stock 942
City of Texarkana Government 615
Source: Texarkana Chamber of Commerce Dec-2003
Top Ten Private Employers
Employer Sector Employees
Cooper Tire and Rubber Manufacturing of passenger tires 1,860
Christus St. Michael Hospital Health care 1,700
Wadley Regional Medical Center Health care 1,450
Domtar, Inc. Fine finished papers 1,250
Wal-Mart, Sam's Club Retail 1,036
International Paper Cup and diaper stock 942
Collom and Carney Clinic Health care 498
Valor Telcom Communications 435
Truman Arnold Companies Petroleum product distribution 422
Day and Zimmermann, Inc. Small arms ammunition 373
Source: Texarkana Chamber of Commerce Dec-2003
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Employment Growth by Industry - 2003
Texarkana MSA Texas
Employment growth (percent) -0.7 -0.5
Unemployment rate (percent) 5.4 6.8
New jobs -400 -49,800
Employment growth by sector (percent)
Natural Resources and Mining and Construction -7.1 0.6
Construction - -3.0
Manufacturing 1.9 -5.0
Trade, Transportation and Utilities -4.9 -1.8
Information 0 -5.8
Financial Activities 0 0.9
Professional and Business Services 3 -1.1
Educational and Health Services 3.3 3.3
Leisure and Hospitality 0 1.2
Government 0 1.3
Total Nonfarm -0.7 -0.5
Source: Texas Workforce Commission and U.S. Bureau of Labor Statistics
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texas Metropolitan Area Employment Change, 1990 - 2003
1990 2003 Percent
Metropolitan Area Employment Employment Change
Austin-San Marcos 454,618 746,750 64.3
Laredo 48,766 77,065 58.0
McAllen-Edinburg-Mission 128,560 197,870 53.9
Brownsville-Harlingen-San Benito 90,866 131,457 44.7
Bryan-College Station 58,292 82,368 41.3
San Antonio 587,550 796,235 35.5
Killeen-Temple 87,724 117,801 34.3
Tyler 70,970 93,561 31.8
Dallas 1,467,668 1,916,607 30.6
Texas 8,071,312 10,284,203 27.4
Fort Worth-Arlington 721,875 915,919 26.9
Houston 1,720,152 2,180,719 26.8
Victoria 34,648 43,652 26.0
Amarillo 92,967 113,051 21.6
El Paso 229,358 274,926 19.9
Lubbock 107,823 128,854 19.5
Waco 86,347 102,310 18.5
Longview-Marshall 86,048 100,952 17.3
Odessa-Midland 104,401 120,374 15.3
Corpus Christi 150,142 172,705 15.0
San Angelo 43,587 49,798 14.2
Brazoria County 93,552 105,320 12.6
Abilene 52,389 58,513 11.7
Sherman-Denison 43,804 48,866 11.6
Wichita Falls 56,897 62,812 10.4
Galveston-Texas City 105,423 114,327 8.4
Texarkana 51,575 55,658 7.9
Beaumont-Port Arthur 157,435 167,915 6.7
Source: U.S. Bureau of Labor Statistics and The Real Estate Center
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana MSA Employment
Percent
Year Employment Change
1990 51,575 -
1991 50,213 -2.6
1992 51,455 0.5
1993 51,696 0.6
1994 51,995 0.9
1995 52,468 0.6
1996 52,808 -0.4
1997 52,588 -1.3
1998 51,910 2.3
1999 53,129 0.7
2000 53,522 -0.2
2001 53,418 2.4
2002 54,688 1.8
2003 55,658 1.8
Source: U.S. Bureau of Labor Statistics
Annual Percent Change in Texarkana MSA Employment
Source: U.S. Bureau of Labor Statistics
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana MSA Unemployment Rate
(in percent)
Source: U.S. Bureau of Labor Statistics
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Economy
Bowie County Gross Retail Sales
Year Total Sales Sales per Capita
1990 $617,043,829 $5,136
1991 622,891,167 5,136
1992 695,479,296 5,684
1993 753,660,795 6,085
1994 813,694,351 6,494
1995 878,887,069 6,963
1996 915,531,294 7,170
1997 931,498,614 7,263
1998 955,854,367 7,426
1999 981,570,186 7,581
2000 1,036,976,373 7,992
2001 1,049,465,639 8,052
2002 1,044,381,829 7,971
State Average 2002: $12,143
Source: Texas Comptroller's Office Mar 2004
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Infrastructure
Texarkana Airline Boardings
Airport 1998 1999 2000 2001 2002 2003
Enplaned 37,225 43,527 40,225 33,034 31,849 28,615
Deplaned 36,175 43,167 38,730 32,483 31,050 27,575
Total 73,400 86,694 78,955 65,517 62,899 56,190
Source: Texarkana Regional Airport
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Public Facilities
Texarkana City Public Facilities Building Permits
Texarkana City Building Permit Office
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Multifamily
Texarkana Apartment Statistics 2003
Texas Metro
Texarkana Average
Average rent per square foot $0.55 $0.79
Average rent for units built since 2000 - $0.91
Average occupancy (percent) 91.1 92.1
Average occupancy for units built since 2000 (percent) - 90.8
Source: Apartment MarketData Research
Texarkana MSA Multifamily Building Permits
(5+ Family Bldg. Permits in units)
Source: U.S. Census Bureau
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana City Multifamily Building Permits
Texarkana City Building Permit Office
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Housing
Housing Affordability - Fourth Quarter 2003
Percent of Households THAI for
That Can Afford First-time
Median-priced Home THAI* Homebuyers
Texarkana MSA - - -
Texas MLS Total 54 1.06 0.92
U.S. Total 55 1.06 0.77
* The THAI is the ratio of median household income to the income required to buy the median priced home using currently available
mortgage financing. Standard financing is a 30-year loan covering 80 percent of the cost of the home. A THAI of 1.00 indicates that the
median household income is just enough to qualify for a loan sufficient to purchase the median-priced home.
Source: Real Estate Center at Texas A&M University
Property Tax Rates, 2003
Tax Rate
per $100
Taxing Entity Valuation
City of Texarkana, Texas $0.47
Texarkana ISD 1.54
Community College 0.08
Bowie County 0.31
Total $2.41
Source: Bowie County Appraisal District
Texarkana MSA Single-family Building Permits
(in units)
Source: U.S. Census Bureau
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Single-Family Home Sales Volume, Texarkana (Number of Units)
Source: Real Estate Center at Texas A&M University
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Retail
Texarkana City Retail Building Permits
Texarkana City Building Permit Office
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Hotel
Hotel* Occupancy and Rental Rates
Texarkana Texas
2000
Rooms (000) 1.0 296.8
Average daily rental rate $45.36 $71.56
Occupancy rate (percent) 61.1 59.3
2001
Rooms (000) 1.0 307.1
Average daily rental rate $49.29 $70.27
Occupancy rate (percent) 59.9 57.3
2002
Rooms (000) 1.0 314.3
Average daily rental rate $50.79 $70.11
Occupancy rate (percent) 58.1 55.4
2003
Rooms (000) 1.1 320.8
Average daily rental rate $50.23 $68.78
Occupancy rate (percent) 57.9 54.3
Source: Office of the Governor Economic Development and Tourism and Source Strategies, Inc. of San Antonio
*Only properties exceeding $16,600 in the current quarter are included; those units below $16,600 only result in 1.5% of the total state
revenues, and have been excluded from this database.
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
Texarkana Market Overview 2004
Office
Texarkana City Office Building Permits
Texarkana City Building Permit Office
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Real Estate Center Market Overview 2004
Texarkana, Texas-Arkansas
This annual report is created free of charge by the Real Estate Center at Texas A&M University. We
strive to provide the most accurate, up-to-date, and insightful data to paint a detailed picture of Texas’
Metropolitan Statistical Area’s. The Center also provides numerous publications, resources, and data on
building permits, employment, population, and home sales at http://recenter.tamu.edu.
Report compiled by:
Administrative Coordinator
Edith Craig
Research Analysts
Isilay Civan
Blake Lacy
Real Estate Center, 2115 TAMU, College Station, TX 77843-2115
Phone: 979.845.2031 | Fax: 979.845.0460
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