Build-to-rent single-family home communities could be one way to combat housing affordability. A coalition between New Growth Living, Montgomery Street Partners and Rockpoint Group is addressing housing affordability with new construction single-family home communities that target renters, and they have already unveiled their first project—Tanzanite, a Sacramento community with 211 homes.

"We cannot continue to deliver the same housing options we have in the past at a time when housing's economic and social demands are so quickly evolving. There is an economic, demographic, and cultural evolution occurring. All municipalities and builders alike need to recognize it, understand it, embrace it, and most of all, plan for it. Well-designed Single-Family for Rent and Build-to-Rent communities will continue to be part of the solution," Dan Nethercott, co-founder of New Growth Living, tells GlobeSt.com.

The build-to-rent community is still emerging, but New Growth Living and partners plan to deliver 1,600 homes across the US. "The Single-Family Build-to-Rent story is being written now but it's still fragmented and clunky," says Nethercott. "Some of the most desirable residents, with much to contribute to their community, don't necessarily want to own a home in the traditional sense. Increasingly, we will see cities embrace development of high quality, amenity-rich rental communities."