Fort Worth Construction Hits Two-Decade Peak
Apartment construction volumes in Fort Worth are higher than they have been in at least two decades. Nearly 9,600 units were under way in this market as of 1st quarter, a volume expected to increase the existing base by 4.7%. Construction volumes have been increasing at a record pace in Fort Worth since 2016, when units under way exceeded the 4,000-unit market for the first time. On average, apartment development has hovered at roughly 7,400 units annually since 2016. This was well beyond the average pace the market posted in the first half of the economic cycle from 2010 to 2015, and the volumes the market was building in the decade prior to that. In both of those timeframes, the market average was 2,300 units annually.