Dallas Multifamily Report – July 2026
Fundamentals are stable, yet mostly muted.
Dallas–Fort Worth fundamentals reflected modest spring rent growth alongside elevated new supply. Average advertised asking rents ticked up 0.2 percent, on a trailing three-month basis through May, to $1,524, below the 0.3 percent U.S. average. Year-over-year, DFW rents fell 1.6 percent, lagging the 0.2 percent national uptick. The occupancy rate in stabilized properties decreased 70 basis points year-over-year, to 92.3 percent in April, driven by a 110-basis-point drop in RBN occupancy.
DFW’s employment growth was 0.7 percent year-over-year through February, ahead of the U.S. rate, which slid 0.1 percent. The unemployment rate stood at 3.8 percent in April, below the 4.3 percent state and national averages, according to preliminary data from the Bureau of Labor Statistics. In the 12 months ending in February, the Metroplex added 24,800 net jobs, with professional and business services accounting for nearly two-thirds of the total, while three other sectors lost 9,700 positions combined. Recent CRE drivers include Scotiabank’s regional headquarters in Victory Park and Wells Fargo’s Las Colinas campus, while active World Cup operations supported near-term hospitality and travel demand.
Supply remained elevated, although starts moderated. Deliveries totaled 7,962 units through May, with 45,498 units underway, while starts fell 7.8 percent year-over-year. Multifamily sales totaled $1.1 billion through May, with the average price per unit down 7.7 percent year-to-date, to $155,034, below the $185,821 U.S. average.
