Phoenix Build-to-Rent Boom Nets Investors Average 38% ROI
Phoenix Leads National Build-To-Rent Market With Record-Breaking Growth Phoenix is leading the nation in build-to-rent (BTR) development. It has secured the top spot for 2024 deliveries and five-year cumulative growth in this sector. The metro area delivered an impressive 4,460 new single-family rental units in 2024. This contributes to a whopping 309% increase in BTR inventory since 2019. This growth showcases important BTR trends that are changing the national housing landscape. Since 2020, Phoenix has added 12,702 BTR units, far outpacing cities like Dallas and Atlanta. Phoenix's dominance is even clearer when looking at demographic changes driving demand for single-family rentals. The metro added 85,000 new residents between 2023 and 2024, ranking sixth in net gain nationally. The Bungalows on Camelback is a key example, ranking as the third-largest new BTR community in the country with 334 units. With over 13,000 additional homes planned or under construction, Phoenix's p...