Large investment firms are converting single-family homes to rentals and buying housing communities to rent. Texas leads the nation in institutional buying, with 28% of single-family homes purchased by institutional investors, more than double the national average.

The Houston Association of Realtors reported June 15 the number of leased single-family home rentals increased 24.8% from May 2021 to May 2022. 

In Harris County, data showed 38% of single-family properties purchased in 2021 were bought by institutional investors. Property data from the Harris County Appraisal District shows nearly 7,000 homes in Harris County as of June are owned by five build-to-rent developers and their subsidiaries, listed in order of total number of homes owned in the county: American Homes 4 Rent, FirstKey Homes, Progress Residential, Invitation Homes, founded by the Blackstone Group, and Tricon.