Dallas-Fort Worth Q4 Multifamily Market Report: Another year of double-digit rent growth in 2022
Highlights:
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- Employers in Dallas-Fort Worth continue to expand, supporting renter demand for units and prompting developers to move projects through the construction pipeline.
- Vacancy ended the year at 5.9 percent, with the rate returning closer to the region’s long-term range. The rate ended 2022 up just 30 basis points from levels achieved 24 months earlier.
- Rents rose 10.8 percent in the past year, ending the fourth quarter at $1,534 per month. Rent increases have been strongest in Class B properties in recent years.
- Transaction activity slowed in the second half of the year, but the Metroplex was the top market for sales volume in the country in 2022. The median price in properties that traded was up 7 percent in 2022, while cap rates ended the year averaging 4.5 percent.
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