Dallas Multifamily Market Report: Nation-Leading Job Growth Drove Absorption in 2019


  • Rapid growth in the Dallas-Fort Worth area supported improving apartment property performance in 2019. With additional growth forecast for 2020, similar multifamily performance is likely in the year ahead.
  • Dallas-Fort Worth led the country in job growth in 2019, with employers adding 126,100 new workers, a 3.4 percent pace of growth.
  • Vacancy fell 30 basis points for the year, reaching 5.2 percent as of the fourth quarter. This was the second straight year where the local vacancy rate tightened.
  • Rent growth outpaced gains from recent years. Asking rents rose 4.6 percent in 2019, reaching $1,175 per month.
  • The Dallas-Fort Worth market posted consistently strong investment performance in 2019. The number of property sales ticked higher, prices rose, and cap rates compressed. With strong property performance forecast going forward, investors are likely to remain active in 2020.

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