Build-to-rent communities are popping up fast in several states, reshaping how people rent and live. If you’re curious where this trend is catching fire, Arizona, Texas, and Florida are leading the nation in build-to-rent growth—especially in cities like Phoenix and Dallas.
What’s fueling this? Rising home prices and the hunt for more affordable renting options. These states are rolling out newly built rental neighborhoods for folks who want the vibe of a single-family home, but without the commitment.
Knowing which states are booming can help, whether you’re a renter, investor, or just someone who likes to keep an eye on the housing market.
Key Takeaways
- Arizona, Texas, and Florida are seeing the fastest growth in build-to-rent communities.
- Demand is up because of rising costs and shifting housing needs.
- New neighborhoods let you rent single-family homes—no mortgage needed.
Top States with the Most Build-to-Rent Growth
Most build-to-rent homes are being built in just a handful of states. Each one is seeing strong growth, though the pace and scale do vary.
Texas, Florida, and Arizona are at the front of the pack, with big numbers of new single-family rentals going up.
Texas: A Leader in Build-to-Rent Development
Texas is out in front, with more build-to-rent homes under construction than anywhere else. Over 21,000 new rental homes are going up statewide.
Dallas and Houston are major drivers here, drawing in renters who want more space than an apartment can offer. Texas has affordable land and a hot job market, which makes it pretty attractive for both developers and renters.
You’ll see neighborhoods designed just for renters, with parks and shared spaces. It’s a top pick if you’re looking for something beyond the usual apartment complex.
Florida: Surge in New Build-to-Rent Projects
Florida is catching up fast, with nearly 14,000 new build-to-rent homes underway. Orlando and Tampa are leading the charge.
Retirees and young families are drawn to single-family rentals for the flexibility. The warm weather and tourist-driven economy just add to the appeal.
A lot of these new communities focus on safety and modern features. If you want a rental with outdoor space and better amenities, Florida’s got options.
Arizona: Rapid Expansion of Build-to-Rent Communities
Arizona’s got almost 14,000 single-family rentals in the works, mostly centered around Phoenix. The population is growing quickly, and so is the need for rental homes that aren’t just apartments.
Developers are building neighborhoods with community parks and easy transit. Expect newer homes with modern layouts.
Low property taxes and a growing job market make Arizona a solid spot for build-to-rent investments. If you want a rental in a city that’s still got suburban perks, Arizona’s worth a look.
Key Drivers Behind Build-to-Rent Community Growth
Changes in where people live—and why—are a big part of the story. At the same time, buying a home is just getting harder for a lot of folks, so renting a new single-family home is looking better than ever.
Population Trends and Migration Patterns
People are moving to states like Arizona, Florida, Georgia, and the Carolinas, chasing job growth and new opportunities. This brings more demand for flexible housing.
Younger adults, retirees, and families often want the freedom that comes with renting. Build-to-rent communities are popping up to meet that need, offering homes that are ready to go and come with nice extras.
Some folks head to cities for work, others prefer suburbs with good schools. Either way, whole neighborhoods designed for renters are on the rise.
Affordability Challenges in Homeownership
Home prices and mortgage rates are up, so buying just isn’t realistic for everyone. Saving for a down payment can take forever, and getting approved for a loan isn’t easy these days.
Build-to-rent homes let you live in a new single-family house without having to buy. There’s more space and privacy than you’d get in a typical apartment.
Developers are betting on steady rental income, so they’re building more of these homes. It’s a way to meet demand from people who want something better than the usual rental but aren’t ready—or able—to buy.
Emerging Build-to-Rent Markets
It’s not just the Southwest seeing action. Build-to-rent communities are growing fast in other states too, especially where populations and job markets are picking up.
North Carolina: Up-and-Coming Build-to-Rent Hotspot
North Carolina is ramping up, with its supply of build-to-rent homes expected to more than double soon. Charlotte and Raleigh are especially hot, thanks to job growth and affordable land.
You’ll spot a lot of new single-family rentals here. People who want more space than an apartment offers are flocking to these communities.
Builders are zeroing in on good schools and family-friendly neighborhoods. It’s a smart move.
Georgia: Expanding Opportunities for Renters
Georgia’s build-to-rent market is booming, particularly around Atlanta. More workers are moving in, and affordable land helps fuel the trend.
Expect to see new neighborhoods designed for renters who want the feel of a single-family home. Parks and walking trails are often part of the package.
If space and convenience are high on your list, Georgia’s growing build-to-rent scene is worth checking out.
Market Impacts and Future Outlook for Build-to-Rent States
There’s definitely growing demand for build-to-rent (BTR) homes in states like North Carolina, Georgia, and Florida. These regions are seeing some pretty sharp increases in single-family rental inventories.
Take North Carolina, for instance. Its inventory is expected to jump by over 150%.
BTR communities tend to offer more space and privacy than your average apartment. That seems to be drawing in renters who want a home-like vibe—just without the headache of owning.
Since late 2022, about 9% more renters have made the switch from apartments to BTR homes. Clearly, people are rethinking what they want in a living space.
Construction activity in these states is pretty robust, too. Last year, around 39,000 new BTR single-family homes hit the market—a 15.5% uptick.
Occupancy rates are holding steady at roughly 95%. That’s a solid indicator that demand isn’t fading anytime soon.
BTR development is starting to branch out beyond the usual Southwest markets. Now, we’re seeing growth in the Carolinas and Florida.
This shift probably says a lot about changing housing preferences. Maybe people are just more open to renting long-term than they used to be.
| Key States | Growth Rate | Occupancy Rate | New Homes Built (2024) |
|---|---|---|---|
| North Carolina | +152% single-family rentals | ~95% | Included in 39,000+ |
| Georgia | Rapid growth beyond Southwest | ~95% | Included in 39,000+ |
| Florida | Expanding BTR community footprint | ~95% | Included in 39,000+ |
If you’re keeping tabs on the rental market or thinking about real estate investment, these states are worth a closer look. The build-to-rent model is carving out a bigger role in the housing scene here.
