With demand for build-to-rent (B2R) properties continuing to grow, B2R completions reached a new all-time high. In 2024, 39,000 B2R units were completed over the course of the year. This is a 15.5% increase compared with the year before, according to a recent report from rental market research platform Point2Homes. Prior to the pandemic, the B2R sector was averaging just 6,000 to 7,000 units per year.
B2R homes have for many years been growing in Southwestern markets, but that has also changed as non-traditional markets are seeing B2R growth. In 2024 alone, 5,379 single-family homes were completed and 7,792 more rental homes are currently underway throughout Florida. California also added more than 1,800 B2R units during 2024.
Meanwhile, Texas’ booming job market and Arizona’s investment in health care services, transportation and trade are keeping housing demand high, thereby ensuring that these two Southwestern leaders remain at the top of the build-to-rent game with nearly 7,000 and more than 4,800 completed units, respectively. Not far behind, Florida and Georgia — two economic powerhouses recognized for their thriving business and labor climates — also shine due to the 5,379 and 4,095 new single-family rentals, respectively. Read more
