The build-to-rent market has been outperforming multifamily for the last five years. Not surprising given that John Burns Real Estate Consulting's database shows that more than half of the BTR (or, as the firm calls it, BFR) projects were built in that timeframe.
Established players are expanding both their BTR and SFR efforts. Markets that are seeing the fastest development rates are largely in the Sun Belt and West.
In one view, the easy early days have come and likely gone. Now competition in the sector means getting smarter about development—which is really about developing planning communities, not single building projects.
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