Build-to-Rent Homes Report 2023: Despite Slowing Pace, Sector Remains Strong
Of 52 home construction experts polled, 58 percent said they have had more requests for build-to-rent homes in recent years. Although starts for BTR have been dipping since 2022 due to the higher price of capital and jitters about the economy, the sector should bounce back nicely in 2024-25 due to robust demand. BTR starts jumped from about 65,000 nationally in 2018 to 119,200 in 2022, with Phoenix leading the pack: The region saw more than 6,000 homes delivered in the past five years, which was a 280 percent increase in the last five years. As demand for the single-family suburban lifestyle remains strong but costs remain out of reach, BTR provides a solution and is expected to be the fastest-growing residential sector in the U.S. in the coming year.
