Build to rent homes are single-family residences in a subdivision-like setting that were constructed for rent only. The build to rent sector, which not too long ago didn’t exist, reached a new all-time high in 2024. With 4,460 units built, Phoenix surpassed all other metros by a large margin. The other cities in the top five were Houston, TX (2,505 new units); Charlotte, NC (1,415 new units); Jacksonville, FL (1,201 new units); and Huntsville, AL (1,098 new units). Phoenix is also in first place when it comes the five-year change in market completions, with a total of 12,702 homes built between 2019 and 2024. The continuing popularity of renting over buying with young families should encourage continuing growth in this segment of the home building market.
