The pandemic put a pause on most life, but in Dallas, apartment developments soared to new levels — and will continue to do so.
In the U.S., the construction of apartment buildings is reaching unprecedented levels. In the last three years, the pandemic ignited a construction boom, resulting in an impressive 1.2 million new apartments being introduced across the nation. This trend is anticipated to continue in the upcoming years, as Rent Cafe's annual study predicts an additional 1 million units by 2025.
According to Rent Cafe, the cities that delivered the most apartments after the pandemic in North Texas are Dallas (13,741 units), Fort Worth (9,672 units) and Frisco (4,243 units).
During this transformation, developers are putting in efforts to finalize projects that received construction approval during the peak of the pandemic. This is in response to the ongoing demand from renters who are searching for additional apartments, driven by the continuation of hybrid work thanks to the pandemic-era work-from-home arrangements.
In the past three years, 76,660 new apartments made their way into the Dallas market, as developers across DFW raced to finish projects that got the go-ahead during the pandemic.
As for the near future, Dallas county is not slowing down its building spree as 23,659 new rentals are on track to be built by the end of 2023. Specifically, Dallas proper is expected to add 4,176 new apartments in 2023, followed by Fort Worth, with 2,469 apartments and Frisco, with 2,296 apartments.
In addition to Dallas, three more metropolitan areas within the Lone Star State made significant contributions to the construction of the 1.2 million new apartments between 2020 and 2022. These cities are Houston (with 53,741 new units), Austin (with 45,051 new units) and San Antonio (with 18,871 new units). These areas are also anticipated to unveil the highest number of new apartments across Texas in 2023.
