The real estate market in Dallas-Fort Worth has been climbing recently, and it does not show signs of slowing down any time soon.
According to a study, the Dallas-Fort Worth metroplex has grown into the most active real estate market in the country, ranking first in the United States for the most activity in all sectors combined over the past decade.
As previously reported by The Dallas Express, Zillow ranked Dallas-Fort Worth the most in-demand area in the United States.
Construction for new homes and apartments continues to grow as a result.
Over the past 10 years, 323,000 permits for single-family homes and 233,000 permits for multi-family homes in DFW were issued; meanwhile, there were roughly 437,000 apartment building permits issued in the Dallas-Fort Worth metroplex in 2021 alone.
In keeping with its population growth, several rental developments have been planned for the DFW area recently. To name a few:
Fort Worth neighborhood Stop Six is getting 210 rental units in a development called the Hughes House. Estimated for completion in 2023, 44 units will be rented at market rate, and the other 166 will be lower-income units.
Also in Fort Worth, 1,300 new rental houses and apartments are joining the city’s residential options; Orchard Farms will receive 643 single-family rental homes, and Mansion at Marine Creek will get 638 multi-family rental homes in the next two to three years.
In Sachse, a 389-unit luxury apartment complex called Miles One 90 has already begun development. The $65 million real estate project will have a pool, dog parks, and is walking distance to dining and entertainment.
A Texas-based real estate company named Presidium is currently in the midst of developing a $52 million, 368-unit apartment complex in Frisco Square that will finish mid-2023. The company also has plans to build an apartment complex near LBJ Freeway on Valley View Lane, set to be completed late next year.
Dallas City Council recently approved a 429-unit new apartment development near Mockingbird Station for $117 million. The complex is part of the city’s mission to provide more affordable housing.
Although the first year of the pandemic saw an excessive drop of nearly 40% in multi-family construction, the real estate market recovered in 2021 when approximately 27,000 new apartments were cleared for building, and the market continued to thrive.
