Dallas–Fort Worth, TX Multifamily Market Report | Matthews | Q4 2025

Market Overview

Dallas-Fort Worth absorbed more multifamily supply than almost any other U.S. market over the past two years, and that weight still shows: vacancy climbed to roughly 12.5% with rent growth slightly negative. But the demand side of the ledger is equally hard to ignore. DFW added more residents than any other metro in the country, fueled by corporate relocations and one of the most diversified employment bases in the Sun Belt. Investors responded accordingly, pushing sales volume to approximately $3.9 billion with per-unit pricing near $138,135 and cap rates at 5.7%. With construction starts declining sharply and absorption holding near 3,100 units, the market is positioned to recalibrate as the pipeline thins through 2026.

About Matthews

Matthews Real Estate Investment Services is a national commercial real estate brokerage and advisory firm serving multifamily owners, investors, and developers across major U.S. markets. Their Dallas-Fort Worth, TX Q4 2025 multifamily market report tracks vacancy, rent growth, cap rates, and sales volume to help clients assess market conditions and refine investment timing. To read the full report, click here.