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

Market Overview

Dallas-Fort Worth's multifamily market finished 2025 on solid ground, with annual net absorption totaling nearly 30,000 units, representing roughly 8% of total U.S. absorption for the year. New supply continued to pull back, with full-year completions falling nearly 25% from 2024 to under 33,000 units, and the construction pipeline contracted for the ninth consecutive quarter to approximately 42,700 units underway. Class A rents posted modest 0.9% year-over-year growth in Q4, and transaction volume rose 31% from Q3, bringing full-year sales volume up 3% compared to 2024, the second consecutive year of growth. With deliveries forecast to be cut nearly in half from peak 2024 levels, vacancy is projected to tighten by roughly 40 basis points by year-end 2026, positioning the market for a transition from equilibrium to an operator's market.

About Northmarq

Northmarq is a full-service capital markets resource for commercial real estate investors, offering debt, equity, investment sales, and loan servicing through a national network of offices. The firm provides in-depth market research and advisory services across multifamily and commercial property types. Their Dallas-Fort Worth multifamily market report tracks absorption, new supply, vacancy, rent trends, and transaction activity to help owners and investors assess conditions and identify opportunities. To read the full report, click here.

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