Marcus & Millichap has come out with its Dallas-Fort Worth Multifamily Market Report for Q2 of 2025.
“Multifamily fundamentals in Dallas-Fort Worth are stabilizing, with tightening vacancies and renewed rent growth signaling improving market conditions,” stated Mark McCoy, vice president and regional manager.
More insights include:
- Deliveries are set to normalize to 25,000 units in 2025, down significantly from the record 43,000 in 2024, rebalancing supply-demand dynamics across many submarkets.
- Strong renter demand pushed the metro’s vacancy rate down to 6.6 percent in March, with 42 of 48 submarkets recording year-over-year declines, especially in slower-growth areas like Allen-McKinney and Frisco-Prosper.
- Rent performance showed signs of stabilization, with Class A properties in central locations such as Grand Prairie and South Irving achieving over 3 percent annual growth, even as the metro’s average effective rent reached $1,485 per month.
- The construction slowdown was more pronounced in Dallas than Fort Worth, with pipeline reductions in areas like Irving and Plano supporting continued tightening in inventory growth.
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