NEW BUILD-TO-RENT RESEARCH REPORT
Rental Housing Providers Deliver Nearly 25,000 Units of Build-to-Rent Housing in 2023
By National Rental Home Council and Yardi Matrix
Build-to-rent homes help to address America’s supply-constrained housing markets while allowing families to enjoy the benefits of a new home experience that meets the lifestyle priorities of today’s housing consumers.
The National Rental Home Council (NRHC) reported the number of newly built single-family rental homes completed in 2023 totaled nearly 25,000 units. NRHC and research partner, Yardi Matrix, tracked new homes built for rent in 67 markets in 31 states across the country.
“Build-to-rent housing is quickly emerging as an essential and highly desirable sector of America’s housing market,” said David Howard, CEO of NRHC.
“With the U.S. housing market facing inventory and supply shortages of near historic proportions, leasing a newly built single-family home in a dedicated community with a range of neighborhood and in-home amenities is an option that appeals to an increasing number of families.”
As the Urban Institute found in the recently published report, “Place the Blame Where it Belongs,” a persistent shortage of homes continues to drive the cost of housing higher, emphasizing the importance of flexibility and choice for families in search of quality, affordably-priced housing. And with the cost of leasing a home less than owning in more than 90% of markets across the United States, build-to-rent housing makes a single-family home lifestyle possible at a cost that may be more in keeping with the financial realities of today’s economic environment.
For more information email: press@rentalhomecouncil.org
