MARKET SNAPSHOT

Dallas-Fort Worth Q1 2025

AVERAGE RENT

$1,543 Q1 2025

OCCUPANCY RATE

91.0% Q1 2025

QUARTERLY NET ABSORPTION

7,349 Q1 2025

ANNUAL RENT CHANGE

-0.7% Q1 2025

ANNUAL OCCUPANCY CHANGE

-50 BPS Q1 2025

QUARTERLY COMPLETIONS

7,442 Q1 2025

KEY TAKEAWAYS
DFW posted strong Q1 2025 demand, with 7,350 units absorbed—the best first-quarter showing since early 2021, setting the stage for a strong leasing season.
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Multifamily construction in DFW is slowing, with just 31,000 units underway as of mid-2025—down from a 2023 peak of 64,000 and the lowest level since 2015.
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A 90-basis-point quarter-over-quarter improvement in Q1 2025 signals that the market may be turning a corner, as demand strengthens, and supply-side pressures begin to ease.
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MARKET OUTLOOK

With resilient demand drivers, decelerating construction activity, and a stabilizing rent environment, investor activity is beginning to rebound...

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