News Summary
North Texas is at the forefront of the build-to-rent housing expansion, with over 21,000 units planned across the state. The Metroplex is a hot spot for development, particularly in cities like Fort Worth and McKinney. Despite a recent slowdown, demand for affordable rental options remains high, making Texas a key player in the nation’s housing landscape.
North Texas: The Epicenter of Build-to-Rent Housing Expansion
Hey there! If you’re living in or around North Texas, you can probably feel the buzz in the air regarding the real estate scene. Why’s that, you ask? Well, it turns out that North Texas is not only outshining the state but also taking the spotlight on a national level when it comes to build-to-rent housing developments. Can you believe it? As we roll into January 2025, there are an astonishing 21,812 build-to-rent units lined up across Texas, with a massive portion landing right in the Metroplex area!
Metroplex Magic: Where the Action Is
If you’re curious about where most of this action is happening, look no further than the heart of the Metroplex. Approximately 8,470 build-to-rent units are set to spring up here! Leading the charge is lovely Fort Worth, which has 1,816 units in the works. And don’t count out McKinney, which is not far behind with 1,293 build-to-rent units. The exciting city of Denton is also in the mix, adding a solid 876 units of its own.
But hey, there’s even more! Other exciting North Texas cities buzzing with construction include Melissa (696 units), Anna (635 units), Garland (543 units), and Celina (537 units), which is proudly the fastest-growing city in the entire US!
Texas Leads the Nation
In the big picture, the illustrious Houston metro area is catching up with a close second place, planning for 4,613 units of build-to-rent homes. Meanwhile, Austin is right on its tail with 4,313 units. Let’s not forget about San Antonio, which has plans to add around 2,994 units. Once all of these homes are completed, Texas will have expanded its build-to-rent inventory by a jaw-dropping 70%!
A Quick Look Back
Now, let’s keep it real; it hasn’t all been smooth sailing. The build-to-rent market did cool off a touch in early 2024, taking a noticeable 57% drop from the record highs of 2022. But don’t let that fool you—there’s still plenty of interest in build-to-rent living! Builders and developers are racing to satisfy the growing demand for affordable, quality rental options.
Investments and New Projects
And it’s not just about what’s already underway—there are some thrilling projects on the horizon. For starters, one developer is getting ready to sell 75 acres in Princeton, which includes fabulous plans for 32 acres of build-to-rent homes alongside classic single-family options. Taylor Morrison is also jumping into the fray, kicking off construction on a 226-unit townhome community in Arlington, charmingly branded under the Yardly name. Additionally, another new build-to-rent community is coming to life in Celina, thanks to Corson Cramer Development selling 40 acres to the Yardly gang for the construction of 396 rental homes.
A Growing Demand
So what’s really driving all this? Build-to-rent units are becoming increasingly popular with renters looking to upgrade from their apartments to something that feels closer to home, all while avoiding the hefty costs of homeownership. In the current housing market of 2024—where inventory is low and prices keep climbing—the demand for professionally managed rental homes is hitting all-time highs.
All in all, it’s crystal clear that North Texas is not just a hotspot for build-to-rent projects; it’s truly leading the pack nationally. With developers booming and the housing landscape changing fast, it’s undoubtedly an exhilarating time to keep your eyes peeled for what’s next!
Deeper Dive: News & Info About This Topic
- WFAA: DFW North Texas Leads Build-to-Rent Boom
- Multifamily Dive: AvalonBay Expands Build-to-Rent Operations
- CoStar: Dallas Approves Plans for Steinbridge Project
- Wikipedia: Build-to-Rent
- Google Search: Build-to-Rent Housing North Texas
