Just over 17,000 new apartment residences are expected to be delivered in the Dallas-Fort Worth area by the end of this year, elevating North Texas to being one of the hottest multifamily markets in the country and second only to New York City.
According to new data from RENTCafe.com, the state of Texas is also leading all states for new apartment construction in 2018, tallying over 37,000 units to be completed sometime this year.
Roughly 283,000 new apartment units are projected to be finished this year, which is actually 11 percent lower than 2017’s new construction volume. Austin and Houston also made the list of the Top 20 hottest multifamily markets in 2018 as 8,800 and 7,600 units are expected be to finished in each respective city.
Within the DFW area, Dallas is scheduled to have 4,590 new apartment units delivered in 2018, followed by Fort Worth at 1,800 new units, Garland at 1,600 new units, Richardson at 1,300 new units, and Plano at 1,100 new units.