According to a report from the National Rental Home Council (NRHC) trade association, Metro Atlanta ranks third in build-to-rent home construction for 2023, following Phoenix and Dallas-Ft. Worth. The area saw an impressive 1,872 BTR residences added to the rental market. This trend is most prominent in Sunbelt states, with the top 15 cities for BTR growth all located in this region.
The surge of growth can be attributed to millions of people relocating from expensive cities like New York, San Francisco and Los Angeles during the Covid pandemic.
As reported by Atlanta Business Journal, housing inventory is at a historically low level while home prices continue to reach record highs. In addition, rising mortgage rates have made homeownership unattainable for budget-conscious buyers. As a result of these factors, real estate investors and builders have increased production on rentals in response to demand.
