"Build-to-Rent Communities Surge Nationwide Amid High Home Prices and Interest Rates"
Build-to-rent communities are growing as more Americans find homeownership unaffordable, with 97,000 such homes completed in 2023, a 45% increase from the previous year. These communities, which make up 7.9% of single-family housing starts, offer upgraded amenities and serve as a stopgap for those unable to buy homes. While some view this trend as a solution to the housing shortage, others worry it replaces entry-level homes with rentals. High interest rates may slow new build-to-rent projects in the coming years.