While much of the country faces housing shortages and rising costs, the Dallas–Fort Worth metroplex has defied the trend. It is one of the fastest-growing housing markets in the United States. Since 2010, housing units in the region increased by more than 27%, more than double the national rate. Yet Plano, which lies in the heart of the area, is closing public schools.

Plano Independent School District shuttered four campuses last spring, citing declining enrollment and rising home prices. But just miles away, Prosper is adding four new schools in the fall to accommodate an influx of families. Plano’s enrollment losses, set against expansion elsewhere, are the result of policy choices, particularly the way housing is regulated.