March 2025 DFW Apartment Market Update

March 2025 DFW Apartment Market Update

Welcome to the March 2025 Apartment Market Update for Dallas-Fort Worth! I'm Erin Harris, your trusted REALTOR® with Real Broker, LLC. If you're looking to rent in DFW, this guide is for you. Let's break down the latest trends and insights to help you find the best apartment options in the current market.

🏠 Current Market Snapshot

• Occupancy Rate: 88.8% – The market remains competitive, but opportunities are available for prepared renters.

• Average Monthly Rent: $1,446 – This price varies by neighborhood and apartment class, with more affordable options in select areas.

• Rental Rate Per Square Foot: $1.63

• Average Apartment Size: 890 sq. ft.

• Annual Rental Rate Growth: -2.5% – This slight decrease could mean favorable rates for new renters.

🔹 Top Performing Submarkets

Here are the submarkets showing the most promising trends in the last 3 months:

1. Northwest Ft Worth/Saginaw/Eagle Mountain

   • Annual Growth: 1.6%

   • Absorption: 2.2%

   • Known for suburban vibes with easy city access.

2. Oak Cliff South

   • Annual Growth: 2.6%

   • Absorption: 1.3%

   • Great for renters seeking cultural diversity and charm.

3. Downtown Ft Worth/TCU

   • Annual Growth: 1.1%

   • Absorption: 1.5%

   • Ideal for students and young professionals.

4. Grapevine/Roanoke/Keller

   • Annual Growth: 2.8%

   • Absorption: 0.5%

   • Perfect for families looking for a suburban setting.

5. Trinity Groves/Oak Cliff North

   • Annual Growth: -1.2% (slight decrease)

   • Absorption: 1.5%

   • A creative district with eclectic housing options.

🔹 Concessions and Specials

Over 44% of all apartment units citywide are offering concessions, including:

• Move-in specials (like 1-month free rent)

• Discounted rents for select floor plans

• Waived application or administrative fees

Average discounts are more prominent in higher-class properties (Class A) with discounts of up to 9.2%. This could be an excellent opportunity for luxury renters to secure better deals.

🏛️ Why Now is a Good Time to Rent

• Price Stabilization: Rental rates have seen a slight decline over the past 12 months.

• Increased Supply: New units are opening, creating more options for renters.

• Special Offers: Renters can take advantage of concessions to reduce move-in costs.

🔹 Tips for Apartment Hunters

1. Act Quickly: Hot submarkets like Oak Cliff and Downtown Ft Worth are moving fast.

2. Ask About Specials: Don’t hesitate to inquire about move-in deals or waived fees.

3. Know Your Budget: Understanding the average rental prices in your target area helps you plan better.

4. Tour Strategically: Focus on communities offering concessions to maximize value.

💼 Let's Find Your Perfect Apartment!

Navigating the DFW apartment market can be tricky, but I'm here to help. Whether you're relocating, downsizing, or finding your first home, I can guide you to the best options.

Ready to start your search or have questions? Reach out today!

- Erin Harris, REALTOR®
Real Broker, LLC | Dallas, Texas

🌐 Connect with Me:

• Visit: www.erin-theagent.com

• Instagram: @simplyerinnicole

• Email: enhtheagent@gmail.com

• Phone: 469-410-4188