DFW Multifamily Market Shows Signs of Recovery Heading Into 2027

According to Costar Group, the Dallas–Fort Worth multifamily market continued to face headwinds in July, with rent growth at -1.1% and vacancy rising to 11.9%.

Despite the challenging metrics, underlying demand remains strong. Net absorption in Q2 2025 totaled approximately 27,000 units in the past 12 months up from less than 24,000 units during the same period last year. On the supply side, deliveries have slowed, with just under 38,000 units brought online over the past year compared to roughly 41,000 a year earlier.

Looking ahead, only 25,000 units are currently under construction, a 10-year low for the DFW market. With demand trending upward and new supply at historic lows, market fundamentals are expected to improve for multifamily owners in the coming quarters.