Apartment occupancy is at an all-time high in the United States, and Dallas is the No. 1 market for multifamily building.
But there’s a revived category of rentals that Dallas is also leading.
Our market is No. 3 for “build-to-rent” homes, according to RentCafe.
The Dallas area has 4,290 built-to-rent homes, and Dallas proper has 1,270, putting us at No. 4 nationally.
About 14,000 build-to-rent homes are under construction in the United States, according to estimates from RentCafe.
We know that 146 of those are in Larkspur Capital’s West Dallas development.
RentCafe called rent-to-build “the hottest trend in residential living.” Last year, 6,740 built-to-rent homes were completed in the United States.
This is likely the tip of the iceberg as big players in build-to-rent, Arizona-based Christopher Todd Homes and Taylor Morrison Home Co., entered our market last year. And Houston-based Wan Bridge is planning 30,000 build-to-rent homes in Texas, including some in the Dallas suburbs.
“There is a misconception that the majority of renters are Millennials when, in reality, you have everyone — including college students, empty nesters, families with kids, pet owners, and those wanting to downsize,” Shannon Hersker of commercial real estate lender Walker & Dunlop, told RentCafe.
