**Dallas Multifamily Fundamentals Show Signs of Stabilization in Q2 2025**
Marcus & Millichap has released its Q2 2025 Dallas-Fort Worth Multifamily Market Report, revealing encouraging trends that suggest stabilizing fundamentals across the metro area.
“Multifamily fundamentals in Dallas-Fort Worth are stabilizing, with tightening vacancies and renewed rent growth signaling improving market conditions,” said Mark McCoy, Vice President and Regional Manager at Marcus & Millichap.
Key insights from the report include:
– Apartment deliveries are expected to normalize to approximately 25,000 units in 2025—down significantly from the record-setting 43,000 units delivered in 2024. This drop is helping to rebalance supply and demand dynamics across multiple submarkets.
– Strong renter demand contributed to a decrease in the metro’s vacancy rate, which fell to 6.6% as of March this year. Notably, 42 out of 48 submarkets reported year-over-year vacancy declines, especially in traditionally slower-growth areas such as Allen-McKinney and Frisco-Prosper.
– Rent performance has begun to stabilize as well. Class A properties in centrally located areas—including Grand Prairie and South Irving—posted annual rent growth exceeding 3%. Meanwhile, the metro area overall maintained an average effective rent of $1,485 per month.
– The construction slowdown has been more noticeable in Dallas than in Fort Worth. Reduced construction activity in submarkets like Irving and Plano has helped support a tighter inventory, easing the pace of new supply entering the market.
These developments suggest that the Dallas-Fort Worth multifamily sector is on a path toward rebalancing and sustainable growth following a period of rapid expansion.
