Dallas/Fort Worth Multifamily Market Report
Business Relocations and In-Migration Highlight Demand Tailwinds;
North Suburbs a Focal Point
Underlying trends strengthening out of the health crisis. The less-stringent shutdown in Texas, along with cost-of-living and quality-of-life considerations, could help accelerate already strong in-migration to Dallas/Fort Worth. From 2010 through last year the metroplex recorded a growth in population exceeding 20 percent, buoyed by the in-migration of almost 800,000 residents. Demand for apartments will also benefit from a widening afford-ability gap, with the median home price in the metro jumping by 11.4 percent last year to $306,300. Northern suburbs have been particularly appealing to renters, with the Frisco-Prosper and Carrollton-Farmers Branch submarkets combining for more than 3,800 units of net absorption in 2020.