Invest In Apartment Buildings In Carrollton, TX

Where Carrollton's Renters Work

Carrollton has 21,553 renter households, and 41.5% of households rent, compared with 37.4% across Texas (U.S. Census ACS 2020–2024). Median gross rent is $1,735 a month, up 40.4% from $1,236 in the 2015–2019 survey and well above the state median of $1,403. Incomes rose too, with median household income up 29.5% to $101,396, and unemployment was 3.3%. Still, 47.9% of renter households spend 30% or more of income on housing.

The job base is industrial and office work more than retail. The city's economic development office lists Southland Industries (formerly Brandt), an engineering and building-systems contractor, as the largest employer at about 1,200 workers in its 2024–2025 survey. AER Manufacturing and Western Extrusions follow with about 1,000 each, then BuzzBallz, Schneider Electric, G6 Hospitality's headquarters, International Paper, a CyrusOne data center and Sanmina. Manufacturing, wholesale trade and construction each account for roughly 11% of local jobs, per the city's JobsEQ figures.

That mix gives apartment owners a renter base of skilled trades, plant workers and back-office staff with steady incomes. Carrollton's three DART rail station areas, at Downtown Carrollton, Trinity Mills and Frankford, also tie renters to jobs elsewhere in North Texas. The Census shows population down 1.5% over five years while renter households grew 8.4%. That gap looks odd next to the new building, and ACS estimates carry a margin of error.

Rail-Oriented Supply And Softer Rents In Carrollton

Carrollton's new apartments have gone up around its rail stations. Union at Carrollton Square, next to the downtown DART station, opened its first phase in 2013 and grew to more than 660 units across three phases by 2018. The biggest recent addition is Eviva Trinity Mills, a 436-unit building that opened in December 2025 as phase one of a $1.5 billion, 25-acre transit-oriented project on the former Carrollton Transit Center and a Home Depot site. Later phases there call for a hotel, a six-story office tower and more retail, with work on the DART-owned portion expected to run into 2027. In August 2025 the NRP Group broke ground on Jackson Road, an $87 million, 370-unit community at 2255 N. Broadway Street, within walking distance of the Green Line and the planned Silver Line.

The Census has not caught up with that pipeline. It counts 15,554 homes in buildings with five or more units, 28.6% of all housing, and shows that number down 0.4% in five years, a change small enough to fall inside the survey's margin of error, and the survey period predates the newest deliveries. The median home was built in 1988. Rental vacancy is 5.3%, and that figure includes houses and small rentals, so it runs below what brokers report for large communities.

Rents are drifting lower. Apartment List's October 2026 report put Carrollton's median at $1,479, down 2.2% from a year earlier, in line with the 2.1% drop across Texas. Bisnow reported in December 2025 that Carrollton officials were weighing an election on whether to stay in DART, though the mayor said a vote to leave would not stop future Trinity Mills phases.

For a buyer, older properties along Belt Line Road and Josey Lane compete with new transit buildings on price. Investors comparing apartment syndications in Carrollton should ask how a property's rents sit against Eviva and Jackson Road once those lease up, and how exposed it is to the DART question.

Carrollton Neighborhoods We Watch

Most of the city's apartment activity follows the rail line and the older commercial corridors.

Where Carrollton Stands Among Its Peers

We track 133 Texas cities. Carrollton places 45th for median gross rent, 52nd for renter share and 30th for five-year rent growth. Its rents fall in the middle of the pack. Compared with the 2015–2019 survey, Carrollton now has about 2,094 fewer residents, 1,670 more renter households and 62 fewer homes in buildings with 5 or more units.

How Carrollton Compares With The Texas Average

Carrollton's median gross rent of $1,735 is above the Texas median of $1,403, and its renter share is 41.5% compared with 37.4% statewide.

Rent Versus Income In Carrollton

At $1,735 a month, the median Carrollton rent adds up to $20,820 a year, or roughly 20.5% of what the median household earns. Under the common 30% guideline, a household needs about $69,400 a year to cover that rent comfortably. That's close to the Texas figure of 21.5%. Renters usually earn less than the all-household median, so the real burden for tenants is higher than this simple ratio shows.

In dollars, Carrollton rent climbed $499 a month over five years and household income climbed $23,098 a year. Rent has outpaced income, so we are careful about how much further a business plan pushes rents on renewal.

Carrollton Rental Market In Numbers

These are the core numbers for Carrollton, TX, each from the Census Bureau's American Community Survey.

• Carrollton, TX has 133,740 residents, down 1.5% from the 2015–2019 survey (U.S. Census ACS 2020–2024).
• Median household income in Carrollton, TX is $101,396, up 29.5% over five years (U.S. Census ACS 2020–2024).
• Median gross rent in Carrollton, TX is $1,735 a month, up 40.4% over five years (U.S. Census ACS 2020–2024).
• 41.5% of households in Carrollton, TX rent, about 21,553 renter households (U.S. Census ACS 2020–2024).
• 28.6% of homes in Carrollton, TX are in buildings with 5 or more units (U.S. Census ACS 2020–2024).
• The rental vacancy rate in Carrollton, TX is 5.3%, and 47.9% of renters spend 30% or more of income on rent (U.S. Census ACS 2020–2024).
• The median home in Carrollton, TX was built in 1988 (U.S. Census ACS 2020–2024).

What We Look For In A Carrollton Apartment Building

We look at buildings with 5 or more units in Carrollton, from small walk-ups to larger garden-style communities, in stabilized or value-add condition. We compare in-place rents with nearby buildings, inspect roofs, plumbing and HVAC, and ask whether better management or targeted renovation can close the gap with the market.

Texas has no state income tax on wages, and property taxes are often one of the largest expenses for apartment owners. We estimate the tax bill as it will be after the purchase, because a sale can trigger a reassessment in many places. Texas has no statewide rent control law, though local rules on notices, fees and deposits still apply. Insurance quotes in Texas reflect hurricane and flood exposure and hail and wind damage, so we get a quote before we make an offer.

After a stretch of fast rent growth, we keep rent assumptions modest and leave room for concessions if new supply opens nearby.

Questions To Ask About An Apartment Syndication In Carrollton

The data on this page turns into a short checklist for evaluating an apartment syndication in Carrollton.

• What vacancy does the plan assume? Rental vacancy in Carrollton is 5.3%. A plan that assumes much lower vacancy than the market should explain why.
• What rent growth is underwritten? Rents here rose 40.4% over five years. Ask whether the plan assumes that pace continues, and what happens to the deal if rents stay flat.
• How was the property tax bill estimated? A sale often triggers a reassessment, so the bill after purchase can be well above what the seller pays today.
• How big is the repair reserve? The median home in Carrollton was built in 1988, and even newer buildings need money set aside for roofs, HVAC and appliances.
• How and when does capital come back? Ask what the plan is for a refinance or sale, and what happens if that takes longer than expected.

How Passive Investing In A Carrollton Apartment Syndication Works

Two groups make an apartment syndication work. The sponsor, or general partner, handles the deal: finding the building, financing it and running the business plan. The limited partners are passive investors who contribute capital and share in the property's results under the offering's terms.

It's a long-term commitment. The property has to be refinanced or sold before most capital comes back, and the outcome isn't certain. Eligibility rules vary by offering, and most are limited to accredited investors. See investing with Skyline Capital for how we work with limited partners.

Getting Started

The first step is the investor network. It's free, and it's how we share market notes and get to know investors. If we buy in Carrollton or elsewhere and you're eligible, we'll reach out privately with the details.