The build-to-rent industry has gone to town by constructing their own, according to Yardi’s RentCafe. The completion volume jumped from 9,928 in 2021 to 2022’s 14,500 houses. The company pointed to long-term pandemic effects, including social distancing and work-from-home, as “the wind in the sails of this new trend.” Or wind in the sales.

But other factors are also at work. House prices in many areas remain at historical highs. National average mortgage rates are at 7.12%, according to And while household incomes advanced some, they have not kept up with inflation. Additionally, pandemic savings have fallen, credit card use is at historical highs, and institutional investors have been actively picking up the more affordable units for single-family rental. These factors have left many consumers forming families unable to purchase a home but still needing additional space and amenities than apartments offer.

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Erik Sherman

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