The performance of several different density functional theory (DFT) methods, including GGA, hybrid-GGA, meta-GGA, and hybrid-meta-GGA methods, have been assessed in terms of their ability to accurately compute both heats of formation and ionization potentials of systems containing third row transition metals. Two different basis sets were used in this study: 6-31G** and TZVP. It is found that the triple-zeta quality TZVP basis set generally produces the best results for both heats of formation and ionization potentials. One important observation made in this study is that the inclusion of exact exchange terms in DFT methods generally results in more consistently accurate results for both heats of formation and ionization potentials of transition metal systems. In general, DFT methods do not yield good ionization potential results for systems containing titanium or zinc. For heats of formation, it is found that the hybrid-meta-GGA functional, TPSS1KCIS, yields the best overall results when combined with the TZVP basis set, while PBE1PBE (hybrid-GGA) gives the best results for the 6-31G** basis. The hybrid-GGA functional, B3LYP, is found to produce the lowest overall errors for ionization potentials when combined with both 6-31G** and TZVP.