- Fort Worth has outpaced Austin in population growth, becoming Texas’ fastest-growing large city, with a 7.7% growth rate since 2020.
- The city is experiencing a surge in its real estate market, with resilient offices, growing industrial, and expanding multifamily developments.
- Fort Worth’s boom has attracted significant investments, such as a 2 MSF mixed-use development in the Cultural District.
Fort Worth, once known as “Cowtown” for its Western heritage, is now riding a wave of explosive growth, surpassing even Austin, as reported by The Real Deal.
Taking The Top Spot
With its current population reaching nearly 1M residents, Fort Worth is not only the fastest-growing city in the Lone State but also among the top in the nation.
This rapid growth sparked a parallel boom in the local real estate market, with robust demand across office spaces, industrial properties, and multifamily housing. The population surge also helped solidify the city’s place as a key economic and cultural hub in Texas.
In fact, when Fort Worth’s population hit 989,878 at the start of the last year, it officially surpassed Austin’s 986,928 residents, according to the Houston Business Journal. This milestone marked 7.7% population growth since 2020.
Population Explosion
Downtown Fort Worth’s office market remained strong with a vacancy rate of just 11.5%, significantly lower than the 26% vacancy rate in Dallas. Although distressed office properties are rising nationally, Fort Worth’s office market saw 10% more rent growth over the past year, driven by limited inventory and rising demand from businesses moving to the area.
Additionally, Fort Worth attracted major investment projects, including a mixed-use development in the Cultural District.
Case in point: a JV between Larkspur Capital and Robert Bass’ Keystone Group plans to develop 2 MSF of residential, retail, office, and hospitality space. This project, designed to support the city’s growing urban core, is set to be a key part of Fort Worth’s expansion, with a boom expected by 2045.
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Expanding Sectors
Fort Worth’s industrial sector is also growiNg, with notable projects like the Triad 820 logistics center in North Fort Worth. This 137 KSF complex, spanning three buildings, reflects the city’s growing importance as a logistics and warehousing hub.
Located along Anderson Boulevard, the development is part of Fort Worth’s larger industrial expansion trend, driven by its strategic location and access to key transport routes.
Meanwhile, multifamily housing developers are rapidly responding to Fort Worth’s rising population with projects that meet demand. For example, Equity Partnership Holdings and Moses Tucker Partners recently acquired Northpoint Villas for $190.2K per unit.
With Dallas-Fort Worth adding 38,640 multifamily units by mid-November 2024, the region continues to be a strong draw for both residents and investors alike.
On The Radar
Given its growth, Fort Worth and the greater Dallas-Fort Worth metroplex are now in the national spotlight. The Urban Land Institute named the area one of the top real estate markets to watch in 2025, buoyed by its population surge, strong economic fundamentals, and expanding infrastructure.
As the city continues to expand, it’s expected to remain a hotbed for real estate investment and job opportunities, offering a unique blend of traditional Texas culture and modern development. additional momentum to the commercial and multifamily mortgage markets in 2025.
