Fort Worth Housing Bond Promises 21% Return for Taxpayers

Fort Worth residents have a chance to turn $10 million into a perpetual money maker while helping their neighbors find affordable homes.

On May 2, voters will decide on Proposition D, a $10 million housing bond that economist Ray Perryman says could deliver a 21% annual return on investment. That means the city could get back $2.1 million every year in local tax revenue once the housing is built and occupied.

"There's not a whole lot of investments out there that can pretty comfortably give you 21% return on your investment," Perryman told attendees at a Housing Summit on April 29. The economist based his projections on real results from Austin and San Antonio, which passed much larger housing bonds in 2022.

The $10 million is part of Fort Worth's $845 million bond program. The money would fund everything from housing repairs to complete rebuilds, with city staff selecting projects in partnership with public and private organizations.

But the return on investment tells only half the story. Perryman explained that affordable housing has become the secret weapon of economic development.

"Part of the currency of economic development right now is workers," he said. "If you don't have housing that workers can afford, it's gonna be very difficult to keep and retain those workers in a community."

The Ripple Effect

Fort Worth's timing couldn't be better. The city sits perfectly positioned in growth industries like advanced manufacturing, AI, data centers, financial services, and life sciences.

But none of that potential matters without workers, and workers need places they can afford to live. The housing bond creates a foundation for sustainable economic growth that feeds itself.

When workers can afford to live where they work, businesses thrive. When businesses thrive, they generate tax revenue. That tax revenue comes back to the community, creating more opportunities and more housing.

San Antonio invested $150 million and Austin put up $350 million for similar programs. Fort Worth's $10 million proposal is modest by comparison, but Perryman says even that amount will make a real difference.

Early voting closed Tuesday, with the final decision coming May 2. Fort Worth voters will determine whether their city joins its neighbors in building both homes and economic momentum at the same time.