How does Fort Worth rank in apartment construction compared to other DFW cities?
More than 23,000 apartments are coming soon to the Dallas-Fort Worth metroplex.
Fort Worth has nearly 2,000 apartments under construction. It falls behind other DFW cities in the number of projected units coming soon, according to new data from RentCafe.
Dallas is expected to see nearly 4,250 units this year; more than 1,500 of those are already completed. McKinney will see more than 2,350 new units, and Frisco will see more than 2,100 new apartments.
The Dallas-Fort Worth metroplex held the leading position for apartment development for the past four years, but this year it’s falling into second place, according to the report. New York has more than 28,000 apartments on the way, passing DFW for the first time since 2018.
Demand for apartments is growing at the city and metro levels, and it’s also increasing nationwide despite rising interest rates and inflation. More than 420,000 apartments are expected to be built nationwide by the end of this year.
“The construction industry is finally returning to pre-pandemic levels of activity but is still being hampered by three familiar challenges: labor shortages; material costs and availability; and supply chain issues,” manager of business intelligence at Yardi Matrix Doug Ressler said to RentCafe.
