A new American Dream? With home prices out of reach, ‘build-to-rent’ communities take off

Build-to-rent communities have served senior populations for decades. In recent years, though, developers have targeted these projects for younger tenants who cannot afford to own yet but want to upgrade from apartments.

In 2023, builders completed an estimated 97,000 build-to-rent residential homes ‒ including those outside of build-to-rent communities ‒ an increase of 45% from the prior year and a record for the sector, according to estimates from John Burns Research and Consulting, which provides independent research on the U.S. housing industry.

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