DFW Build-To-Rent (BTR) Boom?
Why “Build-To-Rent” makes sense
In the latter half of 2024 “…developers [are] work[ing] to meet surging demand for the multifamily housing option that feels more like single-family residential.”
“’All of the data we see points to the fact that renting is still more affordable than owning,’ NexMetro Communities Chief Communications Officer Jacque Petroulakis said, noting interest rates and competition for limited supply are still impeding people from buying a home.”
After a slow start in 2024, Dallas-Fort Worth developers anticipate a surge in build-to-rent projects fueled by pent-up demand and easier financing.
Our Take
For various reasons, the United States is increasingly becoming a nation of renters. Limited housing supply and high interest rates are not the only factors at play. This conversation between a local resident and the NexMetro Communities Chief Communications Officer, Jacque Petroulakis, highlights just one reason why people are renting:
“I actually was talking to a resident at one of our DFW area projects neighborhoods and I said, ‘You guys have owned your home for the last 30 years. Why are you renting now?’ And she said, ‘I don't want my husband to get on a ladder ever again,’”
Our strategy is to develop turnkey, build-to-rent (BTR) multifamily properties.
Source: CRE Daily & BISNOW.com, October 17, 2024