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Even before the onset of the pandemic housing boom, homebuilders were constructing more single-family and townhome rental communities. Ultralow mortgage rates and soaring rents during the pandemic, coupled with cash-flush Wall Street firms seeking assets to buy only added fuel to the fire.
Many of those projects are still working their way through the pipeline. Indeed, in 2023 there were a record-breaking 27,495 build-to-rent homes completed, up 75% from 2022 and up a staggering 307% since pre-pandemic deliveries in 2019. That’s according to new report by RentCafe, using data from its sister company Yardi Matrix.
During the pandemic housing boom, build-to-rent investors sought to invest in high-growth markets with favorable demographics, where rental demand would remain strong long term….Story continues…
Source: The build-to-rent housing market has grown more than 300% since 2019 – Fast Company
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