### BTR Construction Concentrated in 14 Key U.S. Submarkets
Although build-to-rent (BTR) construction remains strong across the United States, certain submarkets are experiencing a significantly higher concentration of this type of housing, according to a report from RealPage. As of mid-March, nearly 78,000 BTR units were under construction across 194 submarkets nationwide. However, one-third of this stock is concentrated in just 14 key neighborhoods.
Leading the way are six Texas submarkets, followed closely by five neighborhoods in the Phoenix metropolitan area. Additionally, three other submarkets in Tampa, Atlanta, and Raleigh/Durham have also emerged as key BTR hotspots.
Topping the list nationally is the Avondale/Goodyear/West Glendale area on the west side of the Phoenix metro, where 4,568 units are currently under construction. This submarket, which previously had 31,942 existing conventional units, has seen its BTR inventory grow by 105.4% over the past five years. The number of units under construction in Avondale/Goodyear/West Glendale is more than double that of the second-ranked Allen/McKinney submarket in Texas, where 2,312 units are being developed.
With such a high concentration of BTR development in these 14 submarkets, the trend indicates a shift in rental housing demand across key metropolitan areas in the U.S.
