We study the collapse of ultracold fermionic gases into inhomogeneous states due to strong dipolar interaction in both 2D and 3D. Depending on the dimensionality, we find that two different types of inhomogeneous states are stabilized once the dipole moment reaches a critical value $d>d_c$: the {\it stripe phase} and {\it phase separation} between high and low densities. In 2D, we prove that the stripe phase is always favored for $d\gtrsim d_c$, regardless of the microscopic details of the system. In 3D, the one-loop perturbative calculation suggests that the same type of instability leads to phase separation. Experimental detection and finite-temperature effects are discussed.