{"id":175784,"date":"2023-06-06T08:39:10","date_gmt":"2023-06-06T15:39:10","guid":{"rendered":"https:\/\/inbusinessphx.com\/?p=175784"},"modified":"2023-06-06T08:39:10","modified_gmt":"2023-06-06T15:39:10","slug":"phoenix-is-the-top-metro-for-build-to-rent-construction","status":"publish","type":"post","link":"https:\/\/staging.inbusinessphx.com\/?p=175784","title":{"rendered":"Phoenix Is the Top Metro for Build-to-Rent Construction"},"content":{"rendered":"<p><a href=\"http:\/\/inbusinessphx.com\/wp-content\/uploads\/2021\/02\/Rentals.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-medium wp-image-164632\" src=\"http:\/\/inbusinessphx.com\/wp-content\/uploads\/2021\/02\/Rentals-300x190.jpg\" alt=\"\" width=\"300\" height=\"190\" \/><\/a><\/p>\n<p>Single-family rentals are booming across the U.S., with 45,000 new homes for rent built in the last 5 years. Out of these, an all-time high of 14,541 new homes were completed in 2022 alone \u2014 and this trend isn\u2019t showing signs of slowing down one bit.<\/p>\n<p>Our <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/build-to-rent-single-family-homes-construction\/\" target=\"_blank\" rel=\"noopener\">new build-to-rent report<\/a> maps the construction of build-to-rent communities (BTR) throughout 100 U.S. metros and offers a glimpse into the future of this niche.<\/p>\n<p>Phoenix is the undisputed leader of build-to-rent construction. More than 6,000 new BTR homes entered the market in the last 5 years and just as many are under construction.<\/p>\n<p><strong>Here are more highlights of the report<\/strong>:<\/p>\n<ul>\n<li>Phoenix\u2019s build-to-rent inventory nearly quadrupled in the last 5 years from 2,168 units in 2017 to a whopping total of 8,239 units at the end of 2022.<\/li>\n<li>The new 6,071 homes \u2014 a quarter of which were completed in 2022 \u2014 made Phoenix the leading metro for BTR development. Dallas follows with almost 4,000 homes for rent added in that same timeframe.<\/li>\n<li>Phoenix is unstoppable when it comes to BTR construction. There are 5,473 build-to-rent homes under construction that are expected to increase the metro\u2019s BTR supply by 66% in the next couple of years. Once again it surpassed Dallas, where nearly 4,400 homes for rent are in the pipeline.<\/li>\n<li>Phoenix\u2019s build-to-rent homes represent 86% of Arizona\u2019s inventory. Phoenix\u2019s accelerated pace of construction pushed Arizona to be the 4th state nationwide with the largest single-family rental inventory, boasting 9,555 units. The top 3 states, Texas, California and Ohio, include between 18,000 and 11,000 BTR units.<\/li>\n<\/ul>\n<table style=\"width: 80.8352%;\" width=\"494\">\n<tbody>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\" width=\"64\">Rank<\/td>\n<td style=\"width: 17.8393%; text-align: center;\" width=\"86\">Metro Area<\/td>\n<td style=\"width: 15.8846%; text-align: center;\" width=\"86\">5-Year Deliveries<\/td>\n<td style=\"width: 18.7808%; text-align: center;\" width=\"86\">SFR Inventory in 2022<\/td>\n<td style=\"width: 20.4795%; text-align: center;\" width=\"86\">SFR Inventory in 2017<\/td>\n<td style=\"width: 85.4247%; text-align: center;\" width=\"86\">% Increase<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\"><strong>1<\/strong><\/td>\n<td style=\"width: 17.8393%; text-align: center;\"><strong>Phoenix, AZ<\/strong><\/td>\n<td style=\"width: 15.8846%; text-align: center;\"><strong>6071<\/strong><\/td>\n<td style=\"width: 18.7808%; text-align: center;\"><strong>8239<\/strong><\/td>\n<td style=\"width: 20.4795%; text-align: center;\"><strong>2168<\/strong><\/td>\n<td style=\"width: 85.4247%; text-align: center;\"><strong>280%<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">2<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Dallas, TX<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">3955<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">7843<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">3888<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">102%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">3<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Detroit, MI<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">2229<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">4558<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">2329<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">96%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">4<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Houston, TX<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">1875<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">5020<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">3145<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">60%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">5<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Atlanta, GA<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">1452<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1834<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">382<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">380%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">6<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Charlotte, NC<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">1148<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1333<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">185<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">621%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">7<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Austin, TX<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">1096<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1812<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">716<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">153%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">8<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">San Antonio, TX<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">1001<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1823<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">822<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">122%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">9<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Kansas City, MO<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">997<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">4231<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">3234<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">31%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">10<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Indianapolis, IN<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">912<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1999<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">1087<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">84%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">11<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Denver, CO<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">888<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1869<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">981<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">91%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">12<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Tampa, FL<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">838<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1374<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">536<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">156%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">13<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Columbus, OH<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">706<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">5360<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">4654<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">15%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">14<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Jacksonville, FL<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">689<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">884<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">195<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">353%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">15<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Greenville, SC<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">672<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">926<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">254<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">265%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">16<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Myrtle Beach, SC<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">672<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">672<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">0<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">\u00a0&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">17<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Des Moines, IA<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">672<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1305<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">633<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">106%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">18<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Riverside, CA<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">667<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">4090<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">3423<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">19%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">19<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Chicago, IL<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">616<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1431<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">815<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">76%<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 11.1789%; text-align: center;\">20<\/td>\n<td style=\"width: 17.8393%; text-align: center;\">Salt Lake City, UT<\/td>\n<td style=\"width: 15.8846%; text-align: center;\">578<\/td>\n<td style=\"width: 18.7808%; text-align: center;\">1278<\/td>\n<td style=\"width: 20.4795%; text-align: center;\">700<\/td>\n<td style=\"width: 85.4247%; text-align: center;\">83%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>View the full report and data <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/build-to-rent-single-family-homes-construction\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Single-family rentals are booming across the U.S., with 45,000 new homes for rent built in the last 5 years. Out of these, an all-time high of 14,541 new homes were completed in 2022 alone \u2014 and this trend isn\u2019t showing signs of slowing down one bit. Our new build-to-rent report maps the construction of build-to-rent [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":164632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[6],"tags":[3],"class_list":["post-175784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-trends","tag-top-stories"],"_links":{"self":[{"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/posts\/175784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=175784"}],"version-history":[{"count":0,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/posts\/175784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=175784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=175784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=175784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}