Most of the single-family homes under construction in the U.S. are in Texas, where about 22,000 properties are being built.
Texas has been a main draw for rental development as the state boasts a strong job market, according to a report from Point2Homes.com, a real estate listing portal for rental properties.
Behind Texas are Arizona and Florida, which each has roughly 14,000 homes under development. North Carolina (12,400 homes) and Georgia (9,900 homes) complete the list of top five states with rental homes in the pipeline.
Among cities, Phoenix is at the top of the list with the most rental homes underway – more than 13,000 – followed by Dallas (8,500 homes).
There are more than 110,700 single-family rental homes under construction in more than 600 communities across the country. Once delivered, the build-to-rent inventory will have grown about 54 percent, according to the report.
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