5 States Where You Can Cash In on the Build-to-Rent Boom
Written by
Chris Adam
Edited by
Zuri Anderson
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With home prices and rent prices soaring in many areas of the United States, families are looking for creative housing options. For some, that may include seeking out homes available for rent.
In fact, the built-to-rent (BTR) market is seeing big growth. Occupancy levels stand at 95% with high levels of activities in many states and metros, according to a report from Point2Homes. More than 110,000 new single-family homes for rent are in the process of being built across the nation.
If you’re looking to cash in on this BTR boom, here’s a look at five states that might offer good prospects for you.
Texas
The Lone Star State is known for going big, and that certainly applies to the BTR market. Texas leads the way big time when it comes to the BTR boom with 21,812 houses for rent are under construction.Â
Dallas is helping Texas lead the way. According to CRE Daily, economic factors such as the lack of state income tax and a business-friendly climate are helping bring new people to Texas who are looking for rental homes.
Arizona
The states seeing growth in the BTR market generally have warmer weather than much of the U.S. Arizona comes in tied for second. The state has nearly 14,000 single-family rentals being built and has strong growth in Phoenix.
Florida
The state known for sunshine tied for second in the BTR market. Florida has almost 14,000 single-family rentals under construction. One interesting trend is that the rentals are located in places where land costs and zoning rules are not as prohibitive.
North Carolina
You may want to check out North Carolina to cash in on the BTR boom. While it’s not as big as other states seeing increases in rental homes, more than 12,000 single-family rentals are being built in the state. Renters are typically looking at the units for more space and better amenities than are offered through other housing options.
Georgia
Another Southern state makes the top list of states leading the BTR boom. More than 10,000 units are under development. Atlanta is helping to lead the BTR boom in Georgia, but keep in mind: Areas outside major metros may be places to consider as families seek lives outside big cities.
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