RDE Capital Group LLC
New Multifamily Construction Continues to Slow in Dallas-Fort Worth
As of June 2025, there are approximately 26,000 multifamily units under construction in the Dallas-Fort Worth market, according to Costar Group. This marks a sharp decline from the peak in 2023, when construction activity reached 64,000 units.
The pullback in new development reflects a shifting market landscape characterized by elevated vacancy rates—now at 12%—and negative rent growth, currently at -1.1%.
Developers are increasingly hesitant to break ground on new projects due to high financing costs and the underperformance of existing assets, both of which are dampening confidence in the near-term outlook.
