The DFW multifamily market has ~3,200 apartment communities, with 70 of those opened in the past 12 months. Another 110 communities are under construction, and 130 communities are proposed for construction. But can the market keep up with the consistent demand for apartment housing in the Metroplex?
Before the COVID-19 pandemic tightened its grip on the world, DFW metro area developers were experiencing a 2.5-year wait with area architects to get their multifamily projects designed and through the permitting process. Add to that an already existing unmet 3-year demand for affordable rental units, and it’s clear there is capacity for growth to help the market meet the demand.