December 20228 OPINIONIN MYBy Karen Key, Managing Director, RangeWater Real EstateThe build-to-rent home craze is one of the hottest multifamily trends nationwide, spurred by a hot economy, job creation and a cross-country migration. As people move to burgeoning cities for new jobs, they are looking for places to live and often want more space than traditional multifamily homes.BTR homes are constructed as single-family, detached homes or attached townhomes. While they are made to rent, they offer the amenities traditionally enjoyed by apartment dwellers, such as dog parks, activity lawns, pools and grilling stations. Some BTR homes may even offer more private space, like private fenced-in back yards or patios, garages or a floorplan with a home office.The segment is expected to keep growing nationwide. According to rentcafe.com and data from sister company Yardi Matrix, nearly 14,000 units will open their doors to renters this year across the country. While still a small segment compared to traditional multifamily (330,000 traditional units were delivered in 2021, marking a record year for new apartments), BTR is growing, fueled by trends in how we're living due to the pandemic, higher prices and supply issues for first-time home buyers and other lifestyle choices. BTR communities are rising from coast to coast, led by the Southwest and Sun Belt where great climates and cultures attract newcomers. A peek at the Southwest tells the BTR story. BUILD-TO-RENT HOMES ARE MULTIFAMILY'S HOTTEST SECTOR NATIONWIDEA strong economy fueling new jobs is driving people to growing cities across the country, sparking the build-to-rent frenzyKaren Key
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