This year is shaping up to be the hottest on record for the popular build-to-rent sector, as consumers priced out of the homebuying market seek more privacy and space in secondary and suburban locations.
Single-family rental construction posted its strongest year ever last year with 6,740 new build-to-rent homes constructed, according to YardiMatrix data. But this year's supply of new BFR homes is expected to more than double that record, with 14,000 planned to open their doors in 2022.
While BFR homes proliferated in the aftermath of the Great Financial Crisis, "this time it's different," RentCafe's Alexandra Ciuntu says. "The pandemic created an unprecedented demand among renters for space and privacy, which houses can address much better than apartments."
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