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2024 Housing Market Overview for Real Estate Investors

Dallas Real Estate Market 2024

Learn trends and real estate statistics about the Dallas real estate market to determine if it’s a strong place for your next single family or multi family home investment.

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    Dallas Real Estate Market Trends and Statistics for Real Estate Investors 2024

    Gain insights about the 2024 Dallas real estate market to determine if it’s an optimal location for your next single-family or multi-family home investment.

    Dallas, Texas Real Estate Market Trends & Statistics Chart 2024

    Welcome to our comprehensive guide to the Dallas real estate market in 2024! Here, we’ll offer you a detailed overview of the current state of the Dallas housing market, including population and employment trends. You’ll learn about the factors that are driving the market’s stability and resilience, the best places to invest and some of the major developments going on in the area.

    The reason why DFW real estate investors are so drawn to the area is the steady population growth, adding an estimated 170,000 residents between 2021 and 2022 alone. This influx of new residents, combined with a strong job market that has added almost 150,000 jobs in the past 12 months, has created high demand for housing.

    Despite its growth and popularity, Dallas remains an affordable option compared to other major U.S. markets. The affordability of the Dallas-Fort Worth real estate market, combined with the area’s diverse economy, which includes strong sectors such as manufacturing, transportation and logistics, construction, professional services, and healthcare, makes Dallas a hotspot for those seeking real estate investment opportunities.

    Our guide will provide you with the information you need to make informed decisions about investing in the Dallas real estate market. Whether you’re a new or seasoned investor, you’ll find valuable insights and data-driven analysis to help you navigate the market with confidence.

    Data Sources:

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    In this section, we’ll discuss Dallas’ median home values and rents in 2024 and over the last ten years. These trends are important for real estate investors to understand affordability and equity growth opportunities in Dallas.

    Home prices in the Dallas metro are just above the national average.​

    Median Home Value

    Dallas vs United States

    The data in this chart is based on the average single family home in Dallas and the United States as of January 2024. 

    In January 2024, the average single-family home value in the Dallas metro area stood at $366,326. This is 5.52% higher than the national average home value, which hovers around $346,048. This indicates a robust, if slightly pricier, regional market that continues to attract buyers.
    Inside the city precincts, the housing scenario paints an interesting picture. According to Redfin, the city of Dallas saw the median home price rise sharply to $407,000 in December 2023, marking a significant 19.7% increase year over year.

    Despite rising home prices, RealWealth investors in Dallas have managed to find value, with an average purchase price of $240,000. This is 30.64% lower than the national average. With Dallas becoming progressively expensive, Realwealth’s teams have strategically moved 30+ miles north and east of the Dallas metro for more lucrative opportunities.

    Turning to data from the MetroTex Association of Realtors, the Dallas metro area had around 3.4 months’ worth of housing supply as of December 2023. Active listings saw a 15.9% increase (93,733 active listings). There was a 7% dip in closed sales – 23,348 closed Dallas home sales. Interestingly despite slower sales, the time homes spent on the market decreased by a day year over year, showing a median of 62 days on market.

    Dallas rents are affordable compared to many markets around the nation.

    Median Monthly Rent

    Dallas vs United States

    The data in this chart is based on the average single family home in Dallas and the United States as of December 2022. 

    The average monthly rent in the Dallas metro area stands at $1,787, 9.84% lower than the national average rent price of $1,982. This means that renters in Dallas can enjoy a more affordable lifestyle compared to other major cities in the United States.

    However, it’s important to note that rent prices can vary widely depending on the location within the Dallas metro area. According to ApartmentList, the median rent in the city of Dallas is $1,354 as of January 2024, representing a 2% year-over-year decrease. This suggests that renters may have more negotiating power in certain areas, while landlords may need to adjust their pricing strategies to remain competitive.

    Another key statistic investors should keep in mind is the price-to-rent ratio, which currently stands at 17.08 in the Dallas metro area. While a price-to-rent ratio of 15 or less indicates that it’s better to buy, the Dallas market skews slightly towards renting over buying for the average household. 39.8% of Dallas-Fort Worth metro households prefer to rent, while 60.2% occupy their own homes. This is a large enough market for investors, especially when you’re dealing with a population of over 7 million.

    The rent to value ratio (RTV) is an important metric for investors, as it helps determine cash flow potential. The average RTV ratio in the Dallas metro area is 0.49%, which is 14.42% lower than the national average of 0.57%. However, in areas where RealWealth invests, the average RTV ratio is 0.7%, a significant 22.44% improvement over the national average.

    Dallas has been appreciating rapidly.

    Median Home Value (2014-2024)

    Dallas vs United States





    The Dallas housing market has experienced a remarkable surge in home values over the last decade, attracting the attention of DFW real estate investors. With a cumulative growth from $169,970 in 2014 to $366,326 in 2024, this translates to an impressive annual appreciation rate of 8.91% and a total equity growth of 116%, outpacing the national average home price appreciation rate by 35.12%. This upward trend highlights the real estate investment opportunities present in the Dallas area.

    Dallas rents have also been rising consistently.

    Median Monthly Rent (2014-2022)

    Dallas vs United States





    There’s no debating that the Dallas metropolitan area has been riding a wave of progress for the last decade, especially when it comes to the housing market. This growth is exemplified by the rise in the average monthly rent within the region, which has seen a striking ascent.
    Over the past 10 years, the average monthly rent in the Dallas metropolitan area has risen by 43.19%, from $1,248 in 2014 to $1,787 in 2024. This upward trajectory equates to a yearly rent appreciation rate of 4.07%. Specifically, Dallas’ rent appreciation trumps the national median monthly rent appreciation rate, outpacing it by 4.12%.

    Dallas Population Trends

    One of the most promising signs of a strong real estate market for investing is population growth. In this section, we’ll discuss what’s happening in the Dallas metro in that area.

    Dallas' population has been growing extremely fast.

    Population Growth

    Dallas Metro Area


    CHANGE 2010-2022



    Continuously ranked among the fastest-growing regions in the U.S., the Dallas metropolitan area is experiencing a surge in population that’s far from ordinary. As of 2022, the metro area boasted approximately 7.94 million residents, and is projected to reach 8.29 million by the end of 2024, according to the Census Bureau’s Dallas market forecast. This robust population growth in the Dallas metro area is driving positive Dallas market trends in real estate.

    Several key factors contribute to this robust growth in the Dallas metro area. A dynamic job market, providing both opportunity and job security, attracts a steady stream of professionals. When combined with a cost of living significantly lower than many coastal metropolises, it’s no surprise that Dallas presents a viable option for those seeking a blend of affordability and prosperity. Moreover, a business-friendly environment, which encourages entrepreneurship and investment, further cements the area’s status as a magnet for both individuals and businesses.

    What makes Dallas’s growth even more remarkable is how it compares to the national average. In fact, Dallas’ population growth is a staggering 213.62% faster than the national average. Over the past 12 years, the region grew at an annual rate of 2.2% per year, a net increase of 24.27%.

    There is also a demographic shift towards a more diverse population. Dallas’ Hispanic and Asian populations are growing rapidly, and there is an increasing number of young families and professionals moving to the area.

    Dallas Employment Trends

    Another sign of a good place to invest in real estate is a strong economy. In this section, we’ll discuss what’s happening in with jobs in Dallas.

    Dallas has been experiencing Strong job growth.

    Job Growth

    Dallas Metro Area


    NEW JOBS 2021-2022



    Dallas, known for its dynamic and diverse economy, consistently outperforms the nation in job growth. As of October 2023, the unemployment rate in Dallas was reported at a low of 3.6%, edging out the national average, which stood slightly higher at 3.8%.

    From 2022 to 2023, Dallas experienced an impressive job growth rate of 3.46%, translating to an addition of 144,399 jobs to the workforce. This growth rate was noteworthy, being 106.14% faster than the national average of 1.68%.

    However, Dallas lags behind in wage growth compared to national figures, an area that needs attention. Wages and salaries in the Dallas-Fort Worth Metropolitan Statistical Area (MSA) had a growth rate of 3.8% for the 12-month period ending September 2023. Nationwide, however, compensation costs and wages and salaries increased by 4.3% and 4.5% respectively over the same period.

    A closer, sector-specific look at employment trends shows that professional and business services had the most employment gain, adding 32,400 jobs overall in the past year. The Dallas-Plano-Irving, TX, division contributed the lion’s share of jobs in this sector, accounting for 19,400 jobs, with Fort Worth-Arlington, TX, chipping in with 4,900 jobs.

    Furthermore, financial activities also witnessed substantial job growth, with an increase of 17,400 jobs over the year. The bulk of this job growth emanated from the Dallas-Plano-Irving, TX, division, reporting an increase of 15,300 jobs in this supersector.

    Major employers in Dallas

    Dallas real estate market major employers

    Why Invest in the Dallas Housing Market Today

    In this section, we’ll recap what we’ve covered above in terms of Dallas’ housing market trends, population trends and employment trends to help you understand what makes Dallas a strong place to invest in 2024.

    1. Fast growing population

    From around 4 million residents in the 1990s to over 7.5 million, Dallas market trends indicate a population consistently on the upswing, growing at a year-on-year rate of 2.2%. This makes it one of the most populous regions in the United States. In fact, the area added more people than any other U.S. metro between 2021 and 2022, with 170,396 new residents.

    This rapid population growth creates consistent demand for both rental properties and purchases, leading to increased rental income and property appreciation for investors.

    2. Attractive area for businesses

    Dallas is not just a haven for businesses. It’s a magnet drawing an impressive number of Fortune 500 and Fortune 1000 companies. The Dallas-Fort Worth metroplex is one of the most sought-after Metropolitan Statistical Areas (MSAs) nationwide for business expansion, new enterprise development, and consistent in-migration.

    North Texas’ resilience during the recession and its rapid population growth are among the factors that solidify its position as a vibrant business hub. These features, combined with a blossoming educational sector, create the perfect breeding ground for businesses to thrive. The MSA’s business-friendly ecosystem has elevated Dallas to become a leading global corporate headquarters center, bolstered by a total of 25 Fortune 500 and 45 Fortune 1000 companies located in this bustling metropolis.

    Driving this rush of businesses into Texas is the Texas Enterprise Fund (TEF), a state-funded program designed to energize economic growth and foster job creation. This initiative provides performance-based financial incentives to businesses, especially those with projects focused on capital investment and job creation. Interestingly, almost half of the state’s enterprise fund benefits North Dallas, which reaffirms the regions’ attractiveness for businesses moving to the area.

    The resulting increase in job creation in Dallas attracts a highly skilled workforce that, in turn, invigorates the housing market. This chain reaction unequivocally makes Dallas a prime hotspot for property investors who are eager to capitalize on the robust housing demand.

    3. Strong job growth

    Dallas-Fort Worth (DFW) is a powerhouse of economic dynamism and technological fervor that nurtures the growth of businesses. One look at the data demonstrates its credentials as a thriving hub for business. The metro area has added close to 600,000 jobs in the last five years, creating a buoyant Dallas real estate market in 2024. More specifically, the Dallas-Irving-Plano area has outshone all other U.S. markets, making it the leader in job gains across the nation.

    It isn’t just the numbers that are exceptional — the makeup of the job market speaks volumes about the quality of opportunities in DFW. Home to nearly 12,000 technology companies and a staggering 450,000 high-tech employees, it is, without a doubt, one of the largest tech business centers in the U.S., second only to Silicon Valley.

    Moreover, the area houses industry giants like Texas Instruments, AT&T, Southwest Airlines, and the groundbreaking dating service provider, Match Group. The healthcare industry also thrives here, with reputable institutions like Baylor University Medical Center, and Texas Health Presbyterian Hospital adding to the employment pool.

    4. Rising home prices

    The housing market in Dallas is experiencing steady price growth, with home values increasing by 115.52% over the last 10 years at an annual rate of 8.91%. This remarkable growth means that if you owned a home in Dallas over the last decade, your property would have appreciated in value by over 110%.

    The Dallas-Fort Worth area is forecast to be one of the country’s top two home markets in 2024. With a thriving economy and a population that continues to expand, the city’s housing market is poised for continued growth. Such growth forecasts that Dallas’ real estate market in 2024 would outperform most other areas, making it an ideal time to buy investment properties for sale in Dallas.

    5. Influx of new construction and development projects

    The city of Dallas is currently witnessing an exponential growth spurt, leading the nation in apartment construction from 2021 to 2023. This surge in development is more than just a testament to the city’s continuous expansion; it’s an unequivocal sign of investor confidence in Dallas’ promising future.

    The Dallas-Fort Worth metro area clinched the silver medal for the highest new home construction rate in 2023. By the close of the second quarter of 2023, over 20,600 new home construction permits had been issued.

    Investors can directly buy into new developments or ride off the back of this progress to benefit from rising property values in areas neighboring these projects.

    Newsworthy Building and Developments in Dallas

    Planned developments can help you as an investor to estimate how the value of your investment property might change in the future. Here are some notable projects in the works in the Dallas real estate market right now:

    1. Dallas North Tollway expansion

    The Dallas North Tollway Expansion is a significant infrastructure project that aims to alleviate traffic congestion and improve connectivity in the rapidly growing northern suburbs of Dallas. The project, which is expected to cost $183 million, will extend the Dallas North Tollway by 13.7 miles. This will provide a direct link between downtown Dallas and growing areas in Collin, Denton, and Grayson counties.

    The project is divided into two phases: Phase 4A and Phase 4B. Phase 4A, which is expected to begin construction in the spring, will extend the tollway by six miles through Prosper and Celina, adding three lanes in each direction from U.S. 380 to FM 428. Phase 4B, which is expected to be completed in 2027, will extend the tollway by an additional 7.7 miles from FM 428 to the Grayson County line.

    The Dallas North Tollway Expansion is a critical project that will help alleviate traffic congestion in the northern suburbs of Dallas, which have experienced rapid growth in recent years. The project will not only improve traffic flow but also provide a more convenient and efficient way for residents and businesses to access the surrounding areas.

    2. Eviva Trinity Mills

    The Eviva Trinity Mills project

    Image Source

    The Eviva Trinity Mills project is a five-story mixed-use building that broke ground on December 8, 2023, in Carrollton, Texas. The building will feature over 430 multi-family units and live-work spaces, and is part of a larger 25-acre transit-oriented development (TOD) called the Trinity Mills Transit District. The TOD includes residential, retail, and restaurant space and is located at Trinity Mills Station, a transfer hub that connects the DART Light Rail’s Green Line and Denton County’s A-train commuter rail line.

    The $1 billion project aims to revitalize the area and prepare it for the future, said Ravi Shah, Carrollton’s urban development director. Once completed, the development will span 300 acres and include class-A office buildings, luxury apartment homes, retail, and a hotel within public plazas and walkable trails. The project is unique in its focus on transit-oriented development and its integration with the surrounding community, including two recently revitalized shopping centers, Carrollton Town Center and the Korean Mall shopping center.

    3. Modera St. Paul

    Modera St. Paul

    Image Source

    Modera St. Paul is a 16-story mixed-use apartment community currently under construction in the East Quarter neighborhood of downtown Dallas. Developed by Mill Creek Residential, the project features 333 apartments and nearly 4,000 square feet of retail space, designed by WDG Architecture and Vida Design. The community offers a range of luxury amenities, including a structured pool deck, arcade room, karaoke room, club room, parlor, fitness center, pet spa, and a luxury sky lounge located on the 16th level.

    What makes Modera St. Paul unique is its prime location in one of the most walkable areas of downtown Dallas. The community is situated at 400 S. St. Paul Street, within a five-minute walk of the Main Street District, AT&T’s Global headquarters and Discovery District, as well as the Dallas Farmers Market. The community also boasts a strong Transit Score (85) and Bike Score (78), making it an ideal location for residents who want to live in the heart of the city with easy access to public transportation and bike-friendly streets.

    4. Goldman Sachs Dallas campus

    Goldman Sachs Dallas Campus

    Image Source

    The Goldman Sachs Dallas campus is a significant project in the heart of Dallas, Texas. The 800,000-square-foot campus, designed by Hillwood Urban, will house over 5,000 employees and serve as the regional base of operations for New York-based Goldman Sachs. The project, which broke ground in October 2023, is expected to cost around $500 million and will take roughly three years to complete.

    The three-acre campus is the first phase of a larger 11-acre mixed-use office and residential development spearheaded by Dallas-based Hunt Realty Investments. The project represents one of the largest office developments Dallas has seen in decades and will become a major hub for Goldman Sachs’ operations in the region.

    This campus will consolidate workers currently located in North Texas and create future jobs. The new office will include primarily people from Goldman’s office in Trammell Crow Center, as well as some from the firm’s Irving office and a portion from the firm’s Richardson office.
    The Goldman Sachs Dallas campus is not only significant for its size and scope but also for its impact on the local economy. The project is expected to create thousands of jobs and drive economic growth in the region. It is also a testament to Dallas’ growing reputation as a hub for financial services and technology companies.

    5. Wells Fargo campus in Las Colinas

    Image Source

    San Francisco-based Wells Fargo is building a sprawling corporate epicenter in Irving’s Las Colinas region. The project will involve the construction of two 400,000-square-foot towers that will serve as the new corporate campus for Wells Fargo, one of the largest financial institutions in the United States. The campus, developed by KDC, will provide a home for over 3,000 Wells Fargo employees and create 650 new jobs in the area.

    What makes this project unique is its focus on sustainability and energy efficiency. The Irving campus is expected to be Wells Fargo’s first net-positive energy campus, meaning it will generate more energy than it consumes through the use of rooftop solar panels, electric vehicle charging stations, and native plants that require minimal watering. This commitment to sustainability aligns with Wells Fargo’s goal of reducing its environmental footprint and promoting renewable energy.

    The campus’s design, led by Dallas-based Corgan, incorporates numerous amenities and features that promote a healthy and productive work environment. Employees will have access to walking and bicycle trails, stand-up paddle board rentals, a cycling studio, and four golf courses, all within close proximity to the campus.

    The Wells Fargo campus in Las Colinas is also significant because of its impact on the local economy. The project has received a $5 million “deal-closing” grant from the Texas Enterprise Fund, in addition to $30 million in incentives approved by the Irving City Council. It is expected to be completed by the end of 2025.

    Best Places to Invest in the Dallas Metro Area

    As an investor in the Dallas real estate market, it’s important to understand where you can get the best deals. This is not always in Dallas proper, but in the greater metro area.

    1. Carrollton

    Where to invest in the Dallas real estate market: Carrollton, Texas

    Image Source: SwisterTwister, CC BY-SA 3.0, via Wikimedia Commons

    Carrollton, a mid-sized city located north of Dallas, offers an attractive blend of established neighborhoods and new developments, making it an attractive investment opportunity in the Dallas metro area.

    With a diverse population of 133,000 residents, Carrollton has experienced rapid growth in recent years, with average home prices increasing by 50.2% in the last five years, making it one of the cities with the fastest-growing home prices in the Dallas metro area.

    Carrollton’s strong job growth, particularly in the healthcare and technology sectors, and steady home price appreciation, make it a prime location for long-term investments. According to BestPlaces, the city’s future job growth over the next ten years is predicted to be 43.0%, higher than the US average of 33.5%. This growth, combined with a healthy rental market, offers investors the potential for consistent income.

    Major employers in the area include G6 Hospitality, TGI Fridays, Varel, Fitness Connection, and Interceramic USA. The city’s diverse economy and growing population make it an attractive option for investors looking to capitalize on the Dallas metro area’s thriving real estate market.

    2. Denison

    Where to invest in the Dallas real estate market: Denison, Texas

    Image Source: E’s & D’s Adventures in Life, CC BY 2.0, via Wikimedia Commons

    Denison, located north of Dallas on the shores of Lake Texoma, offers a unique blend of small-town charm and big-city amenities. With a population of 25,179 and an unemployment rate of 3.9%, Denison is an up-and-coming destination for families and businesses alike.

    The area is known for its historic downtown and Grayson College. Denison’s proximity to outdoor recreation and its relaxed pace of life make it an appealing choice for those looking to escape the hustle and bustle of city life.

    One of the key drivers of Denison’s investment potential is the planned development of Preston Harbor, a $6 billion master-planned community anchored by a $100 million Margaritaville resort. This project is expected to bring new residents, businesses, and tourists to the area, further fueling economic growth.

    Denison is also strategically located along US-75, providing direct access to Sherman, Texas, and the Sherman-Denison Metropolitan Statistical Area (MSA). This location offers a business-friendly atmosphere and an educated workforce, making it an ideal spot for technology manufacturing and suppliers. With the construction of two semiconductor plants, Texas Instruments and Global Wafers, in Sherman, Denison is well-positioned to support the demand for semiconductor suppliers and their needs.

    The area has been appreciating moderately, with year-over-year rent growth at 3.4% and median list price growing by 6.9%. This steady growth is fueled by the area’s strong job market, diverse economy, and influx of new residents. Major employers in the area include Texoma Medical Center, Ruiz Foods, Cigna, and Spectrum Brands.

    3. Bonham

    Image Source: Nicolas Henderson

    Nestled north of Dallas lies Bonham, a quaint town steeped in history, marked by its beautiful Victorian-era homes and iconic courthouse. Bonham has a population of 10,746 residents with 44% of them choosing to rent. Major employers in the area include Renlita Doors North America LLC, Tongrun International, Clayton Homes, and TCI Trans Cable Intl. The area’s unemployment rate is just 3.4%, indicating a strong job market.

    Interestingly, Bonham faces a housing shortage. A study launched by the city in 2015 revealed a deficit of approximately 400 housing units. This underlying housing shortage presents an excellent opportunity for investors to bridge this gap and capitalize on the promising growth in the real estate market. Bonham’s growth potential is apparent in its 3.7% rent growth rate year-over-year.

    4. Greenville

    Where to invest in the Dallas real estate market: Greenville, Texas

    Image Source

    Situated northeast of Dallas, Greenville is a thriving city known for its vibrant downtown that hosts an arts district, various restaurants, an award-winning winery, and lively entertainment venues. With a burgeoning job market and top-notch schools, Greenville captivates young professionals and families looking for a community-focused lifestyle.

    Greenville is home to a population of 30,189 inhabitants. Interestingly, nearly half of this population – 48% – rent their homes.

    Major companies such as L3 Communications Integrated Systems, McKesson, and Weatherford International support the job market in Greenville, contributing to the town’s sustainable growth. The city’s accessibility is enhanced by the presence of major highways, establishing seamless connections within and beyond the metro area.

    Home to a considerable tenant pool, Greenville assures landlords of an attractive return on investment. This is demonstrated by the impressive year-on-year rent growth of 5.7%. The median list price also increased by 8.9% over the past year.

    On the horizon is an exciting development that adds to Greenville’s investment appeal: The Greenbelt, a 325-acre master-plan, mixed-use project by Wildcatter Realty Partners, located just 50 miles northeast of Dallas – the groundbreaking took place in Q1 2023.

    5. Mabank

    Image Source: Nicolas Henderson

    Mabank is a rapidly growing town on the southern outskirts of Dallas, recognized for its affordable housing options, the serene beauty of Cedar Creek Reservoir, and its burgeoning opportunities. With a population of 5,301 residents, Mabank is on the verge of metamorphosis, attracting an influx of families and retirees seeking a tranquil lifestyle within reach of a bustling city.

    The town’s flourishing rental market is an investment beacon. A striking 56% of Mabank’s residents opt for renting over homeownership, signaling a thriving demand for rental properties. This, coupled with a robust year-on-year rent growth of 30%, paves the way for promising income potential for real estate investors. Dallas has also seen a 10% YOY increase in its median real estate price.

    Mabank’s stability is cemented by a strong employment landscape. It hosts major employers such as Frito Lay, Solar Turbines, UT Health East Texas, JIT Manufacturing Inc., and Eagle Metal Products, providing its residents with an array of employment opportunities. The town’s proximity to downtown Dallas also makes it an attractive choice for commuters seeking affordable housing options outside of the city center.

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