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Market Report

Dallas-Fort Worth Multifamily Market Report

2Q 2024

Dallas Records Nation-Leading Apartment Demand;
New Supply Escalates Concessions in Fort Worth

North Dallas suburbs off to a strong start. Metroplex net absorption surpassed 8,000 units during the first quarter of 2024, the largest total among major U.S. markets. Greater Dallas alone led the country during that span with a net absorption tally above 6,200 rentals. Standout submarkets here include Frisco-Prosper and Allen-McKinney — where net absorption eclipsed 1,000 units — as well as Lewisville-Flower Mound and Central-East Plano, with more than 600 doors taken up. Despite strong demand, none of these locations ranked in the top 10 locally for annual rent growth. That accomplishment was instead found closer to the urban core or in more rural outlying counties. Northwest and Southeast Dallas, as well as Oak Lawn-Park Cities and Zang Triangle-Cedars-Fair Park, all posted annual rent gains above 3 percent, while Ellis and Hunt counties registered the strongest growth among outlying areas.
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