reaching new heights

Dallas nearly beats New York for the most new apartments built in 2024

New apartment construction rates are soaring sky high in Dallas.

Photo courtesy of Simpson Property Group

Apartment construction has been skyrocketing in Dallas-Fort Worth, and the metro is on the brink of surpassing New York City, boasting the second-highest rate of new apartment construction in the nation, according to a new insight report from RentCafe.

The report from August 7 analyzed new apartment construction data across 369 U.S. metropolitan statistical areas (MSAs). For the purpose of the study, only apartment buildings containing 50 or more units were included. Any U.S. metros with fewer than 300 units or fewer than two properties/buildings were excluded.

RentCafe's data estimated Dallas-area developers are expected to build a staggering 32,932 total apartment units in 2024, which is just three fewer units than No. 1-ranking New York City's anticipated goal. In just Dallas proper, 5,267 units are estimated to be complete by the end of the year.

Dallas also topped the charts for the highest apartment construction rate between 2020 and 2022, with 76,660 new apartment units opening around Dallas-Fort Worth since the beginning of the so-called "pandemic building boom."

The report attributes booming construction rates to DFW's steady population growth, the area's thriving job market, its relative affordability (in comparison to similar-sized U.S. metros), and its desirability among major employers.

"Naturally, corporate relocations create jobs and boost wages throughout the metroplex, further fueling economic growth and attracting newcomers who need housing," the report's author wrote. "And, to address the growing need of apartments, the city of Dallas could leverage its untapped vacant land and streamline the permitting process, potentially adding up to 100,000 new apartments."

Fort Worth is expected to build the second highest number of new apartments in North Texas, totaling 4,608 units. Other large suburbs like Frisco and McKinney will complete an anticipated 2,020 and 1,675 apartments by the end of 2024, respectively.

Here's how many new apartments are expected to be built by the end of 2024 in other Metroplex-area cities:

Grand Prairie – 1,468 units
Melissa – 1,334 units
Plano – 1,247 units
Garland – 1,190 units
Arlington – 1,190 units
Prosper – 1,158 units
Lewisville – 982 units
Denton – 910 units
Richardson – 734 units
Sachse – 686 units
North Richland Hills – 643 units
Irving – 530 units
Carrollton – 508 units
Burleson – 454 units

Dallas-Fort Worth apartment construction by 2028
Based on the number of newly built apartments from 2019 to 2023, RentCafe's analysts extrapolated New York and DFW will continue dominating new apartment construction through 2028. But unlike past years where there was a steady growth in completed units, the report predicts construction will dwindle until 2027, and then experience a big hike in 2028.

"This slowdown is mainly because apartment construction starts have significantly dropped so far in 2024 compared to the same time in 2023," the report said. "Moreover, apartment construction starts are expected to keep falling throughout the next year as developers struggle to get financing due to stricter loan standards amid economic uncertainties, which causes delays in projects."

For context, Dallas-Fort Worth had the highest number of new apartments completed – 128,418 units – from 2019 to 2023, versus New York's 116,207 newly built units.

RentCafe calculated New York will lead the nation with 150,327 new apartments built by the end of 2028, and DFW will trail behind with 108,178 completed units. The Metroplex's anticipated figures are 28 percent lower than New York's expected apartments.

"This indicates that the metroplex is experiencing the aftereffects of its recent development surge (even though its population grew by 152,600 residents in 2023 alone), sustaining the demand for apartments," the report said.

The full report and its methodology can be found on rentcafe.com.

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Hottest Headlines of 2025

Popular suburbs move into Dallas' hottest real estate headlines of 2025

Photo courtesy of City of McKinney

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Editor's note: As the year comes to a close, we look back at the 10 most-read real estate stories in Dallas for 2025 — including new honors for several local suburbs, market trends, and all-important Walmart news. These are the 10 hottest real estate headlines of 2025 in Dallas:

1. Dallas-Fort Worth suburb blooms as No. 1 best place to live in U.S. One Dallas-area city took the top slot on a list of "the 100 Best Places to Live in 2025." The list — from relocation marketing platform Livability.com — put Flower Mound at No. 1 for its appealing size and affordability. The suburb also claimed the No. 7 spot in a ranking of America's most livable small cities.

2. North Dallas neighbor ranks as No. 1 most affordable city in U.S. A Dallas suburb landed on top of a list of the most affordable places to live: McKinney ranked No. 1 based on its relative cost of living and high median household income.

3. Massive mixed-use development coming to key intersection in McKinney. McKinney is getting a new $1.3 billion mixed-use development. Called Long Branch, it will be a 155-acre project at the northwest corner of US-75 and the future 380 bypass, consisting of housing, retail, office, grocery, and hospitality. The development has 80 acres slated for active development, and will unfold over the next decade in four tracts.

4. Dallas-area suburb ranks as 3rd best place to live in Texas in 2025. The Dallas-Fort Worth mid-city of Coppell has been ranked the third best place to live in Texas in 2025 by rankings and review website Niche.com. The survey determined the best places to live in based on crime rates, public school rankings, the local cost of living, job opportunities, and more using data from the U.S. Census Bureau, the FBI, and others.

Coppell, Dallas suburb Coppell was ranked the third-best place to live in Texas for 2025. City of Coppell, TX Municipal Government/Facebook

5. 11 Dallas suburbs soar as fastest-growing U.S. cities in last decade. It's no secret that Dallas-Fort Worth's population is growing faster than most other metros in the U.S., but now several surprising Dallas neighbors have been named among the top 10 fastest-growing suburb nationwide over the last decade. Celina nearly led the nation with an astonishing 314 percent increase in population from 2014 to 2023, according to a growth study by marketplace platform StorageCafe.

6. Dallas neighbor is the No. 1 fastest-growing affordable city in U.S. A national study has declared Texas is home to the most affordable, fast-growing cities in the country, with Dallas suburb Frisco taking the lead at No. 1. Frisco and five more Dallas neighbors ranked high on GoBankingRates.com's list of "50 Most Affordable, Fastest-Growing Cities in 2025."

$Millennials moved to Texas more than any other state in 2019, with Frisco being\na top choice.$ Frisco is the most-affordable, fastest-growing city in the country. Photo by Roger Robinson/Visit Frisco

7. Dallas neighbor beckons movers as top U.S. suburb with small-town feel. Wylie, a city less than 30 miles from downtown Dallas, ranked as the No. 7 most highly sought-after U.S. suburb of 2025 in MoveBuddha's national survey. In addition to being recognized as the 7th most desirable American suburb, Wylie also ranked as the second-most desirable suburb to move to in Texas.

8. 2 Dallas neighbors rank among fastest-growing wealthy suburbs in U.S. Celina and Prosper, two boomtowns north of Dallas, are among the top three fastest growing affluent suburbs in the country. The cities' affluent status was unveiled in a GoBankingRates' study ranking the "30 Fastest-Growing Wealthy Suburbs in America" for 2025.

The Old Celina Park in Celina, Texas Celina is the No. 2 fastest-growing wealthy 'burb in America. Photo courtesy of celina-tx.gov

9. 6 Dallas suburbs make top 10 list of best Texas cities to move to. Advisors at ConsumerAffairs, a customer review and news platform, ranked the 50 most populated Texas cities across five main categories — affordability, safety, economy, health care and education, and quality of life — to determine which were the best places to move to. Each city was given a score out of 100 possible points. Four of the top five best places to move to in Texas are located in Dallas-Fort Worth: Allen (No .1), Frisco (No. 2), Plano (No. 3), and McKinney (No. 4). Two more DFW suburbs, Mansfield (No. 6) and Richardson (No. 10), rounded out the top 10.

10. Booming Celina hits the big time with its first Walmart Supercenter. The city of Celina is getting its first mega Walmart: According to a release, it will be a Walmart Supercenter located at the northwest corner of Preston Road (Highway 289) and the West Outer Loop. The store has been in the works for a few years, but the Celina Economic Development Corporation celebrated the opening in a groundbreaking on April 16.

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