RangeWater's CEO, Steven Shores, Featured on Forbes
Team News
By Jeffrey Steele | Contributor, Forbes
How significant a force is the build-to-rent (BTR) single-family home phenomenon? Consider this. The National Association of Home Builders estimates approximately 10% of the nation's new housing construction is destined to be offered as BTR product.
Nowhere is the BTR movement more evident than in the Sunbelt. The Southern states are the epicenter of BTR construction, underscored a few months ago in a RealPage Analytics Blog. Blog author Carissa Brown reported 113,308 BTR units were being built in early November 2023, of which approximately 66,500 units, or 41%, were being built in the South. Those numbers easily topped the Western U.S. with 29,800 units (29%) under construction; the Midwest 14,484 units (13%) and Northeast 2,441 units (2%).