Build-to-Rent Homes

If you build it, they will come!  As the affordability of homes has become a bigger issue in recent years, its created demand for what are known as build-to-rent homes.  These are homes and even whole neighborhoods that are constructed of single-family detached homes specifically to be used as rental property.  90,000 such homes were started in 2023, an increase from 81,000 in 2022.  In the first quarter of this year, the number of starts jumped 20%.  As the age of first time homebuyers increases, these folks rent longer.  Many in their 30s are simply at a stage in life where they want to get out of an apartment and live in a single-family detached home.  But if they can’t afford to buy one, they want to rent it.  So with demand increasing for this type of home, rental property owners are accommodating.  While I don’t have a ranking from 2023, Austin ranked #10 in build-to-rent homes in 2022.

Post a Comment