Booming Development Tests Asking Rents
Dallas–Fort Worth multifamily fundamentals were mixed at the start of 2026, with persistent rent contractions overlapping with near-term supply pressure. Average advertised asking rents fell 1.9% year-over-year, to $1,509 as of January, while the national average rose 0.2%, to $1,741. The occupancy rate in stabilized properties inched up 10 basis points in 2025, to 92.9% as of December, sustained by a solid increase in the Lifestyle segment.
Employment growth held steady in the Metroplex, at 1.0% through September 2025, outpacing the 0.8% U.S. rate. Area unemployment stood at 3.6% in December, outperforming Texas (4.3%) and the U.S. (4.4%). DFW added 34,900 net jobs in the 12 months ending in September, led by education and health services (16,800 jobs). There were net losses in three sectors, with professional and business services (-9,600) and manufacturing (-3,300) in the lead. Meanwhile, the $3.5 billion Kay Bailey Hutchison Convention Center program and DFW Airport’s Terminal F expansion are some of the largest near-term growth catalysts.
Supply remained elevated after two years of significant deliveries, with building starts improving in 2025. North Texas had 42,704 units underway going into 2026, including 24,243 apartments across 88 projects that broke ground last year. Multifamily investment surpassed $4.3 billion in 2025, and the average price per unit saw a 4.0% year-over-year uptick, to $167,974.
Read the full Yardi Matrix Dallas Multifamily Market Report: March 2026
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