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Phoenix #2 in 2022 BTR builds

Phoenix Ranked #2 in 2022 BTR Development

It’s no longer much of a secret. Higher interest rates and surging home prices are forcing many potential homebuyers to look for the next best thing, a single-family home built to rent (BTR). This has been another record year and Phoenix is leading the way, almost, ranking No. 2 in the U.S. as build-to-rent homes reached a new high with a threefold increase in future units. A recent RENTCafe survey found that in 2022:

No. 1 Dallas leads the way with a total of 2,773 new houses in BTR communities — a 10-year high. 

No. 2 Phoenix is next with 1,527 build-to-rent homes in professionally managed communities. Overall:

  • The construction of new build-to-rent homes hit a record in 2022, with more than 14,500 houses completed.
  • There are 44,700 build-to-rent houses under construction — triple the number of new homes completed in 2022.

Since the trend began, Phoenix has the most completed units, 8,200, of which more than 6,000 opened their doors in the last five years.


Inside The Story

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Economy
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