Headlines often focus on volatility, but the Dallas–Fort Worth multifamily market is telling a very different story. Beneath the noise, the fundamentals are showing resilience, and capital is following. Through May, DFW led the nation with $1.5B in multifamily sales, the highest year-to-date total of any U.S. metro, while average price per unit climbed 10% year-to-date.
This isn’t just momentum. It’s a sign of how quickly the market is firming, why investors are leaning in, and even prompting some to ask whether Dallas could be the next NYC.
Why DFW Stability Matters
- Demand is broad and durable: The metro added 56,400 net jobs in the 12 months through March, outpacing national growth, and unemployment remains below 4%
- Supply is cresting: Deliveries remain high but are trending back toward balance, with absorption nearly matching completions this year.
- Pricing has found a floor: After nearly a year of declines, rents have stabilized and even ticked higher.
These signals show a market that has absorbed shocks and is already laying the groundwork for growth.
What the Numbers Say Right Now
- Absorption vs. Supply: Nearly 19,000 units were absorbed from January through July, outpacing new deliveries
- Occupancy: Average occupancy rose 0.3% to 87%, with stabilized occupancy approaching 92% — the first mid-year improvement since 2021.
- Capital Flow: $1.5B in transactions through May confirms that liquidity is alive and well, and investors are willing to transact at rising price points.
Source: Institutional Property Advisors, Real Capital Analytics, BLS; CoStar Group, Inc.; RealPage, Inc.
What This Means for Passive Investors
- Entry points have improved: With values reset and rents stabilizing, today’s acquisitions can be anchored to recent comps while leaving room for NOI growth.
- Demand is resilient: A growing job base and strong demographics continue to support steady leasing.
Supply risk is manageable. New starts are slowing, and absorption is closing the gap with deliveries.
- Liquidity supports exits: Submarkets like Frisco, Plano West, and Uptown are attracting significant capital, creating multiple exit options for sponsors.
Where We See the Best Setups
- Northern growth arc: Frisco and McKinney remain development hotspots with strong absorption.
- Employment nodes: Irving Las Colinas and Uptown Dallas combine job access with lifestyle appeal, attracting institutional buyers.
- Select Fort Worth pockets: Northeast and Northwest submarkets show healthy absorption with limited competition.
Final Thought
Cycles favor disciplined investors, and right now, DFW is rewarding that discipline. With resilient demand, a moderating supply pipeline, and the deepest pool of capital in the country, DFW offers something rare in today’s market: durable income today and the potential for compounding growth tomorrow. If you’d like to explore opportunities to invest alongside us in Dallas, we’d be glad to connect.
Sources:
Yardi Matrix. Dallas Multifamily Market Report. Yardi Matrix, 2025. PDF.
Yardi Matrix. Matrix Multifamily Dallas Report: July 2025. Yardi Matrix, 2025. PDF.
ALN Apartment Data. Market Spotlight: Dallas Fort Worth. ALN Apartment Data, August 2025. PDF. Summit Cove Realty.Why DFW Investor Prospects Top U.S. Metros in 2025. Summit Cove Realty, 2025. PDF.
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About Ellie Perlman
Ellie Perlman is the founder and CEO of Blue Lake Capital, a woman owned multifamily real estate investment firm focused on partnering with family offices and accredited investors to build and preserve generational wealth. Since its founding in 2017, Blue Lake has successfully acquired and operated multifamily assets across high-growth U.S. markets, completing $1B+ in transactions.
At Blue Lake Capital, Ellie and her team work exclusively with family offices and accredited investors, offering carefully curated investment opportunities that emphasize long-term wealth creation, stability, and risk-adjusted returns. A defining aspect of Blue Lake’s investment strategy is its integration of advanced AI-driven analytics and data science into the entire lifecycle of acquisitions and asset management. By leveraging cutting-edge technology, the firm executes data-driven forecasting on market trends, asset performance, and tenant behavior, ensuring strategic decision-making and optimized returns.
In addition to leading Blue Lake Capital, Ellie is the original founder and host of "REady2Scale - Real Estate Investing" podcast, which provides insights into multifamily real estate, alternative investments, and finance.
Ellie began her career as a commercial real estate attorney, structuring and negotiating complex transactions for one of Israel’s leading development firms. She later transitioned into property management, overseeing over $100M in assets for Israel’s largest energy company.
Ellie holds a Master’s in Law from Bar-Ilan University in Israel and an MBA from MIT Sloan School of Management.
You can learn more about Blue Lake Capital and Ellie Perlman at www.bluelake-capital.com.
*The content provided on this website, including all downloadable resources, is for informational purposes only and should not be interpreted as financial advice. Furthermore, this material does not constitute an offer to sell or a solicitation of an offer to buy any securities.