RDE Capital Group LLC

The Dallas–Fort Worth multifamily market remains in a transitional period, as elevated vacancy and negative rent growth continue to reflect the effects of recent supply expansion. According to CoStar Group, vacancy currently stands at 12.4%, while year-over-year rent growth remains negative at –1.8%.

New deliveries continue to outpace demand in the near term. Over the past 12 months, approximately 34,126 units have been delivered, compared to absorption of 23,657 units. While nearly 29,000 units remain under construction, this figure represents a 10-year low, signaling a meaningful contraction in the development pipeline and an important inflection point for future supply.

Looking ahead through 2026, operators should expect continued competitive leasing conditions, including pressure on occupancy and the sustained use of concessions to maintain leasing velocity. However, the slowdown in construction activity is expected to provide gradual supply-side relief. As deliveries moderate and demand remains high, market fundamentals are projected to improve, with broader stabilization and rebalancing anticipated in late 2026 and into early 2027.