{"id":8089,"date":"2024-08-13T12:32:00","date_gmt":"2024-08-13T12:32:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8089"},"modified":"2024-12-04T12:43:18","modified_gmt":"2024-12-04T12:43:18","slug":"dallas-multifamily-market-report-july-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/","title":{"rendered":"Dallas Multifamily Market Report \u2013 July 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/dallas-multifamily-market-report\/\">Dallas Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Supply Wave Hits Occupancy<\/h2>\n<p>Dallas-Fort Worth\u2019s multifamily market stood on steady ground in the middle of the second quarter, notes the latest Yardi Matrix Dallas multifamily market report. Advertised asking rents picked up after nine months of flat or negative performance, improving 0.2% on a trailing three-month basis through May, to $1,540, while the U.S. average rose 0.3%, to $1,733, as reported in the <a href=\"\/blog\/national-multifamily-market-report\/\"><strong>national multifamily market outlook<\/strong><\/a>. Yet the high volume of units slated for delivery in 2024 will likely curb further growth and will also impact occupancy, which is already below 93.0% as of April.<\/p>\n<p><iframe id=\"datawrapper-chart-88sCP\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Dallas vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/88sCP\/2\/\" height=\"321\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>In the 12 months ending in March, DFW employment posted a 2.0% expansion, gaining 65,800 net jobs and outperforming the 1.4% national rate. Meanwhile, the unemployment rate clocked in at 3.4% in April, faring better than the U.S. (3.9%) and the state (4.0%), according to the Bureau of Labor Statistics. Not all sectors expanded, with professional and business services and information losing 5,100 jobs combined in the 12 months ending in March. However, as of April, the metro had 4.9 million square feet of office space under construction. Government and education and health services led job gains, accounting for half of the positions added during the period.<\/p>\n<p><iframe id=\"datawrapper-chart-3LRyB\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Dallas Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/3LRyB\/1\/\" height=\"423\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Developers delivered 7,947 units in 2024 through May, all in upscale projects. The under-construction pipeline totaled 63,975 units, with record supply forecast for the year. Meanwhile, transactions remained tepid, amounting to just $586 million, with the average per-unit price down 19.6% year-to-date, to $123,965.<\/p>\n<p>Read the full Yardi Matrix Dallas Multifamily Market Report: <a href=\"\/publications\/download\/file\/5929-MatrixMultifamilyDallasReport-July2024\"><strong>July 2024<\/strong><\/a><\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Supply Wave Hits Occupancy Dallas-Fort Worth\u2019s multifamily market stood on steady ground in the middle of the second quarter, notes the latest Yardi Matrix Dallas multifamily market report. Advertised asking rents picked up after nine months of flat or negative performance, improving 0.2% on a trailing three-month basis through May, to $1,540, while the U.S. [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":7669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[465,511],"class_list":["post-8089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-dallas","tag-multifamily-outlook-2024"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dallas Multifamily Market Report \u2013 July 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"DFW\u2019s strong economy has sustained demand for apartments, pushing advertised asking rents up 0.2 percent on a T3 basis through May to $1,540.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dallas Multifamily Market Report \u2013 July 2024\" \/>\n<meta property=\"og:description\" content=\"DFW\u2019s strong economy has sustained demand for apartments, pushing advertised asking rents up 0.2 percent on a T3 basis through May to $1,540.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-13T12:32:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-04T12:43:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Dallas-iStock-2161658785.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Dallas Multifamily Market Report \u2013 July 2024 - Yardi Matrix Blog","description":"DFW\u2019s strong economy has sustained demand for apartments, pushing advertised asking rents up 0.2 percent on a T3 basis through May to $1,540.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/","og_locale":"en_US","og_type":"article","og_title":"Dallas Multifamily Market Report \u2013 July 2024","og_description":"DFW\u2019s strong economy has sustained demand for apartments, pushing advertised asking rents up 0.2 percent on a T3 basis through May to $1,540.","og_url":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2024-08-13T12:32:00+00:00","article_modified_time":"2024-12-04T12:43:18+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Dallas-iStock-2161658785.jpg","type":"image\/jpeg"}],"author":"Adina Rogoz","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/"},"author":{"name":"Adina Rogoz","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/1e376ba4add70694b922380ddbe946d8"},"headline":"Dallas Multifamily Market Report \u2013 July 2024","datePublished":"2024-08-13T12:32:00+00:00","dateModified":"2024-12-04T12:43:18+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/"},"wordCount":244,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Dallas-iStock-2161658785.jpg","keywords":["Dallas","Multifamily Outlook 2024"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/","url":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/","name":"Dallas Multifamily Market Report \u2013 July 2024 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Dallas-iStock-2161658785.jpg","datePublished":"2024-08-13T12:32:00+00:00","dateModified":"2024-12-04T12:43:18+00:00","description":"DFW\u2019s strong economy has sustained demand for apartments, pushing advertised asking rents up 0.2 percent on a T3 basis through May to $1,540.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Dallas-iStock-2161658785.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Dallas-iStock-2161658785.jpg","width":1200,"height":628,"caption":"Photo by Art Wager\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/dallas-multifamily-market-report-july-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Dallas Multifamily Market Report \u2013 July 2024"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/1e376ba4add70694b922380ddbe946d8","name":"Adina Rogoz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7708bca9e09cc5676d0f96a14b833143f233709c6888184035d1e1f75c05fabb?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7708bca9e09cc5676d0f96a14b833143f233709c6888184035d1e1f75c05fabb?s=96&d=mm&r=g","caption":"Adina Rogoz"},"description":"Adina Rogoz is a Senior Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2016 and is writing real estate related news, blog articles, reports and Q&amp;As. \ud83d\udce7 You can reach out to her at adina.rogoz@cpe-mhn.com","url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Dallas-iStock-2161658785.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/8089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/436"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=8089"}],"version-history":[{"count":1,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/8089\/revisions"}],"predecessor-version":[{"id":8093,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/8089\/revisions\/8093"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/7669"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=8089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=8089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=8089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}