The Dallas–Fort Worth apartment market experienced a 95% surge in new-construction starts in the first two months of 2017. Almost 50,000 new apartments are in the area pipeline, and about 30,000 units are set to come on line this year.
Much of this new construction is under way in Frisco and central Dallas, according to Real Page. Frisco has almost 6,400 new apartments under construction, and 5,578 new units are under way in central Dallas.
Dallas–Fort Worth’s pace puts the metro second only to New York City in new-construction starts, but the region’s high employment growth means a supply glut is unlikely: The DFW area adds over 100,000 new jobs each year. Meanwhile, the region’s average rent has risen 6% year over year, and its vacancy rate is holding at under 5%.