DFW sees exceptional household growth in 2Q2019

​​​​​DALLAS-FORT WORTH – Sustained job creation and strong household formation will support the absorption of almost 27,000 multifamily units in the Metroplex this year.

According to a Marcus & Millichap 2Q2019 multifamily report, white-collar positions will remain abundant, particularly in downtown Dallas, the Telecom Corridor, and Fort Worth’s central business district.​​

Multifamily vacancy rate will move into the upper 5 percent range as construction hits a cyclical high of more than 30,000 new units.

 The influx of supply will dilute rent growth, putting gains well below the previous five-year average of 5.4 percent.

The Metroplex will see another wave of construction in 2019; Dallas’ urban core is slated to receive nearly 2,500 units this year while Fort Worth will add roughly 1,500 apartments to downtown and adjacent neighborhoods.

Additional completions in the market’s northern outer-ring submarkets will push DFW’s delivery volume to the highest in the nation this year.