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.
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.
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.
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