The demand for single-family rental homes is surging, with build-to-rent (B2R) inventory nearly quadrupling over the past three years. According to recent insight from housing market data tracker Point2, 27,500 single-family rentals were completed in 2023, marking a 75% increase from the previous year. And while many renters are choosing B2R homes because they can’t afford to buy in the current housing market, other renters are specifically looking for luxury single-family rentals for the benefit of more space and amenities. In its analysis, Point2 found that in 24 of the 100 largest U.S. cities, 10% to 74% of single-family rental homes fall into the luxury category. Of these cities, Irvine, Calif., has the highest number of luxury single-family rentals, followed by Los Angeles and Boston.
Zooming out, there are several states that truly stand out when it comes to luxury houses for rent. Renters in eight of California's largest cities don't have to worry at all about finding the single-family rental with all the dream features and amenities: Aside from Irvine and Los Angeles, San Diego, Anaheim, San Francisco, Chula Vista, San Jose and Santa Ana also offer plenty of luxurious options for their future tenants. And, with shares of luxury rentals above 10%, Oakland and Riverside also managed to secure a spot in the top 20 most glamorous rental markets.
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