{"id":119216,"date":"2022-01-20T00:00:21","date_gmt":"2022-01-20T08:00:21","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=119216"},"modified":"2022-09-19T00:41:07","modified_gmt":"2022-09-19T07:41:07","slug":"built-to-rent-single-family-homes-double-in-2022","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/built-to-rent-single-family-homes-double-in-2022\/","title":{"rendered":"Built-to-Rent Homes Expected to Hit All-Time High in 2022, Fueled by Need for Space and Privacy"},"content":{"rendered":"

As renters look for a lifestyle change that offers more space and privacy, communities of single-family houses built for the purpose of renting have become the hottest trend in housing. 2021 was a record year for single-family rental home construction, with 6,740 new built-to-rent homes completed. And, the trend is growing rapidly: twice as many homes are now under construction, for a total of nearly 14,000 set to open their doors to renters beginning this year.\u00a0<\/strong><\/p>\n

Cleverly described by some as \u201chorizontal apartments,\u201d communities of houses built for the sole purpose of renting are becoming the hottest topic in residential living. But, single-family rentals are not a new concept. Although they proliferated in the aftermath of the 2008 housing crisis, this time it\u2019s different. The pandemic created an unprecedented demand among renters for space and privacy, which houses can address much better than apartments.<\/p>\n

According to a recent survey of 3,300 renters on\u00a0rentcafe.com<\/a>, as many as 78% said they were interested in living in a community of single-family homes. The survey confirmed the\u00a0rising interest in single-family rentals<\/a>\u00a0that began to take shape last year, including on rentcafe.com, where searches for \u201chomes for rent\u201d tripled in 2021 compared to the previous year.<\/p>\n

What\u2019s more, the race to build more of this in-demand type of rental is accelerating: In 2021, 6,740 new rental homes in built-to-rent communities were completed \u2014 the highest yearly total to date, according to Yardi Matrix data. But, this is just the beginning of a trend we\u2019re bound to see much more of as the pace of construction is set to double beginning this year. Specifically, there are an estimated 14,000 built-to-rent homes under construction in the United States.<\/p>\n

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