On November 15, 2023, a report from the Build-to-Rent Coalition highlighted the growing popularity of build-to-rent (BTR) communities in suburban areas, as more renters seek high-quality, purpose-built rental homes. This shift is driven by a variety of factors, including the desire for more flexible living options, better amenities, and the appeal of professionally managed rental communities. Developers, investors, property managers, and renters are all contributing to the increased demand for these purpose-built rental spaces, which offer a higher standard of living compared to traditional rental housing.
A key moment in this trend was the completion of several new BTR communities in suburban regions, where demand for well-designed, rental homes is on the rise. These communities are attracting renters who want a lifestyle that offers convenience, quality, and flexibility without the long-term commitment of homeownership. BTR properties often include a range of amenities such as parks, fitness centers, community rooms, and even pet-friendly spaces, which foster a sense of community for renters. These well-appointed communities offer more than just a place to live—they create environments where individuals can enjoy social connections, outdoor activities, and convenient access to services and local attractions.
The rise of BTR communities is also influenced by changing attitudes toward homeownership. Many renters, particularly younger generations, are opting for rental living as a more flexible alternative to owning a home, especially in the wake of economic uncertainty and rising housing prices. BTR communities provide a unique solution, offering the benefits of well-designed homes without the burdens of maintenance, property taxes, and other responsibilities that come with homeownership. These developments also cater to renters who value modern design and high-end features, which were previously more common in privately owned homes rather than traditional rental units.
The lasting effect of this trend is expected to have a significant impact on the rental market in suburban areas. As more renters seek quality housing with fewer long-term commitments, developers will continue to focus on building BTR communities in suburban markets. This shift may lead to the growth of a new segment within the housing industry, as BTR communities become a more popular alternative to both traditional renting and homeownership. These communities could provide a viable option for individuals or families looking for a well-managed, amenity-rich living environment in suburban locations.
Looking forward, BTR communities could reshape the housing landscape by offering affordable alternatives to homeownership, particularly for renters who want the benefits of community living and modern amenities without the responsibilities of owning a property. As the trend grows, it’s likely that suburban areas will continue to see an influx of BTR developments, offering more diverse options for renters and changing the dynamics of residential real estate.
In conclusion, the rise of build-to-rent communities in suburban areas represents a shift in how renters approach their housing options. With a growing demand for quality homes and flexible living arrangements, BTR developments are positioning themselves as an attractive alternative to traditional homeownership and rental housing. As more developers respond to this trend, build-to-rent communities are poised to become a significant segment of the housing market, offering affordable and convenient living options for renters in suburban regions across the country.