Top 5 Markets for Multifamily Deliveries

Multifamily demand still runs hot despite major economic headwinds and experts predict that the sector will continue to outperform throughout 2022. According to Yardi Matrix data, 153,314 units came online nationwide between January and June 2022, representing 1.0 percent of total stock. The volume of units delivered accounts for a 21.3 percent decrease from the 194,885 units that were delivered last year during the same period.

In the ranking below, we showcase the top five markets for deliveries in the first half of 2022 by the number of units, based on Yardi Matrix data. Combined, a little over 38,000 units came online in these metros, accounting for a quarter of the national volume.

. Dallas

Multifamily deliveries in Dallas totaled 9,829 units in the first half of 2022, or 1.2 percent of total stock. This represents a 27.7 percent decrease from the same period last year, when 13,587 units came online. Meanwhile, another 49,670 units were underway in the metro as of June. According to Yardi Matrix data, Dallas has the second-largest under-construction pipeline in Texas, right after Austin.

In recent years, Texas has been benefitting from strong in-migration, company expansions and relocations, which translates into steady economic growth. As a result, demand for housing skyrocketed. ZOM Living‘s 13-building, 378-unit Mezzo Dallas project in Aubrey, Texas, was one of the largest multifamily deliveries in the metro.