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Market Report
Dallas-Fort Worth Multifamily
Market Report
2025 Investment Forecast
Dallas-Fort Worth Remains the Front-
Runner of Nation’s Multifamily Expansion
Sturdy renter base warrants another influx of new units. The metro will lead the country in completions this year as over 36,000 doors open. Submarkets on the far north end of the metro will receive the bulk of these deliveries, led by the Allen-McKinney area, where over 8,000 units will be added by year-end. Offsetting the metro’s robust completions slate is one of the top household formation rates in the nation, as 67,600 new households will be formed here in 2025. Many young professionals are flocking to Dallas-Fort Worth to join its quickly growing job market backed by multiple Fortune 500 companies’ headquarters, including AT&T, Charles Schwab and Southwest Airlines. Composing nearly one-third of local employment, traditionally office-using jobs support demand for luxury apartments. Last year, Class A vacancy inched up marginally despite a record number of new apartments coming online. Dallas proper enters 2025 with slightly lower vacancy than Fort Worth in the luxury segment, even with triple the inventory size. If supply additions wane in the future, Class A vacancy will begin to fall back toward the 10-year average of roughly 5.6 percent.