As millennial families grow, remote or hybrid work becomes more common, and the cost of buying a home continues to skyrocket, the single-family rental sector of the housing market continues to blossom—and that means build-to-rent homes and communities are gaining popularity.
As Josh Craig, Chief Revenue Officer for Lima One Capital, explained to DS News several months ago, build-for rent “are purposely built communities to be rentals long-term. Most are designed to be mid-to-lower priced so they can be affordable. They’ll have slightly smaller square footage and slightly less interior finish [i.e., good, but not top-of-the-line appliances, etc.] than a retail for-sale home.”
Fixr.com, a company dedicated to home remodeling, has conducted and published a study related to build-to-rent single-family homes. It showed the market is evolving based on the needs and desires of homebuyers and renters. Fixr author Adam Graham spoke with Brad Hunter, President, Hunter Housing Economics, and Brent Landry, SVP of Development, American Homes 4 Rent, to gain more understanding of this sector of the industry.
Graham writes that build-to-rent homes, whose sector has “remained steady over recent years with a small share of the market,” show “potential for imminent growth” due to several factors at play in today’s market.
Fixr points to one recent study that showed around 60% of Americans lack the funds for a national median-priced home, making renting a more feasible…