Texas is seeing a surge in build-to-rent communities, with Banyan’s 34-acre, 234-unit project set to open in Austin suburb Pflugerville. The development will feature three and four bedroom houses averaging 1,771 square feet each with private driveways, two car attached garages and fenced yards. Residents can also enjoy community amenities such as a pool, fitness center and green space when the project opens its doors during the first quarter of 2024.
Austin ranks among the top five cities for BTR rent growth nationwide while investor interest has skyrocketed to $50 billion by 2022. Homebuyers are increasingly taking advantage of this alternative option that offers many benefits associated with homeownership without having to take out a mortgage loan.
