Report: Florida ranks No. 3 in nation for build-to-rent housing market

The housing market both nationwide and in Florida has been impacted by high costs and interest rates for several years now, driving up the median age of homeownership and pushing many more Floridians into the rental market. 

With this in mind, builders and investors are continuing to go to a trendy solution: build-to-rent communities, which are targeted toward investors seeking steady tenants and renters who want a house without the burden of home ownership. 

These communities are popping up around the country. There are currently 110,727 single-family rentals under construction in 613 communities across the U.S., according to a new report released by Point2Homes, a rental home listing online platform.

Courtesy image

Texas leads the country with 21,812 houses for rent at various stages of construction, and Arizona and Florida are next, with approximately 14,000 homes soon to be available. Once Florida’s homes are completed, it will constitute an 83% increase in build-to-rent homes. 

Within Florida, Orlando holds the top spot of build-to-rent units with approximately 3,000 homes under construction. Tampa and Jacksonville have 2,000 homes in progress. Other Florida municipalities with under 1,000 build-to-rent homes under construction are Jacksonville, Wesley Chapel, Kissimmee, Port St. Lucie, St. Augustine and St. Cloud. A total of 63 communities are under construction across the state.

Point2Homes noted in its report that data was compiled from internal data, public records, governmental sources, and online research and is based on data related to build-to-rent communities containing at least 50 single-family rental units.