Dallas Multifamily Rents Slide in 2026

Rent and Occupancy Trends

The Dallas-Fort Worth multifamily market began 2026 with moderate demand but continued rent contraction. Average asking rents dipped to $1,509, falling 1.9% year-over-year. This contrasts with the national market, where rents inched up by 0.2% to $1,741. According to Multi-Housing News, despite the rent softness, stabilized occupancy improved 10 basis points in 2025, closing the year at 92.9% on the back of solid Lifestyle segment leasing.

Job Market Holding Up

Employment growth in Dallas-Fort Worth kept pace, with the metro adding 34,900 net jobs in the 12 months ending September 2025. The area’s 1.0% annual job growth beat both the Texas (0.8%) and national (0.8%) rates. Unemployment in December stood at 3.6%, well below state and national averages. The education and health services sector led job gains, offsetting losses in professional services and manufacturing.

Development and Investment Activity

Multifamily supply remains elevated as of early 2026, with 42,704 units under construction. In 2025 alone, 24,243 apartments were started across 88 projects. Investors poured more than $4.3B into the Dallas multifamily market last year, and the average price per unit rose 4% to $167,974. This steady capital deployment comes as investors across other property types have been repositioning into discounted opportunities, particularly in the office sector where transaction activity has picked up amid pricing resets. Major infrastructure projects, such as the $3.5B Kay Bailey Hutchison Convention Center redevelopment and DFW Airport’s Terminal F, continue to drive market optimism.