More Than 200 Developers Working on Build-to-Rent Properties

More than 64,250 build-to-rent (BTR) units are under construction by over 200 developers – outside of private or individual investors. Eight developers lead the pack with 1,000 or more BTR units under construction as of November, according to RealPage Market Analytics. Only two developers boast 2,000 or more BTR units underway: Carrollton, TX-based Empire Group and Scottsdale, AZ-based Taylor Morrison Inc. With more than 2,300 BTR units under construction across the Midwest, South and West, the Empire Group easily claims the #1 spot. Those units are expected to complete through November 2027. The only other developer surpassing the 2,000+ BTR unit mark is Taylor Morrison with 2,171 BTR units under way, completing through mid-2027 in the South and West. Three developers follow with more than 1,200 BTR units under construction each: Cavan Companies (1, 893 BTR units), NexMetro Communities (1,333 BTR units), and Core Spaces (1,206 units). Though the BTR construction pipeline has started tapering, we estimate just over 120,000 units are operational nationwide with over 139,000 in planning stages.