Did the construction cones on Dallas-Fort Worth streets leave a hint? They should’ve.
Dallas-Fort Worth is projected to be the hottest metro area in terms of new development, specifically apartment deliveries, in 2022, according to a RentCafé study.
The highlights for Dallas-Fort Worth:
- The Dallas-Fort Worth market is expected to see the construction of an estimated 23,500 apartments in 2022. But if the projections hold out, D-FW will trail the New York market, which is projected to see the construction of over 28K new apartments.
- On a city level, Dallas proper leads in projected apartment construction by a wide margin — 4,248 units, of which it already built 1,507. McKinney (2,351), Frisco (2,134), and Fort Worth (2,134) rank second through fourth.
- Texas represents a large chunk of the country’s apartment development with other bustling metros such as Austin (18,300, fourth) and Houston (17,700, fifth).
Definitely, it's the era of apartments. In 2021, 422,809 apartments were delivered. In 2022, 420,274 are projected to be constructed. The last time apartment deliveries went over 400K units was in 1972.
The construction industry is finally returning to pre-pandemic levels of activity but is still being hampered by labor shortages, material costs and availability, and supply-chain issues, said Doug Ressler, Yardi Matrix's manager of business intelligence.
Half of the 20 largest metro areas are expected to hit their five-year peaks in apartment deliveries this year, including newcomers Nashville, Tenn., and Portland, Ore.
What is RentCafé? It’s a nationwide apartment search website and a part of Yardi Matrix.
Report review: RentCafé has assembled an impressive collection of dynamic charts and maps. To compile this report, RentCafé's research team analyzed new apartment construction data across 125 U.S. metropolitan statistical areas. OMG, it’s a five-bunny rabbit hole. 🐇 🐇 🐇 🐇 🐇
