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

Market Overview

Dallas-Fort Worth delivered 32,529 units in 2025 against demand of 28,252, leaving occupancy at 93.1% and average rents near $1,482 per month. The supply overhang is real, but the demand case is equally compelling. DFW led all U.S. metros in employment growth from 2019 to 2025 with 581,400 jobs added, and Moody's projects another 158,900 jobs through 2029, second nationally. With a rent-to-income ratio of 19.3% and an ownership cost gap of roughly $1,700 per month versus renting, renter demand has structural staying power. Transaction volume stabilized after bottoming in mid-2024, cap rates have reset to 4.25–6.00% across asset classes, and modest rent growth is projected to resume from 2026 onward as deliveries slow.

About Newmark

Newmark is a full-service commercial real estate advisory and capital markets firm serving investors, owners, and occupiers across major U.S. and global markets. Their Dallas-Fort Worth Q4 2025 multifamily market report covers absorption, occupancy, rent trends, cap rates, and transaction volume to help investors assess market conditions and refine investment timing. To read the full report, click here.