Builders Look to Growing Home Rental Market

Subdivisions in states across the country are catering to people who want the benefits of living in homes without the burdens of home ownership.

1 minute read

October 17, 2019, 5:00 AM PDT

By Camille Fink


Single-Family Housing Construction

Irina Mos / Shutterstock

Chris Arnold reports on new subdivisons that are made up of homes that are not for sale, just for rent. "[Developer Josh Hartmann] says there are basically three types of renters of these houses: recent divorcees like [Lou Ann] Erwin, aging baby boomers who don't want the headaches of owning a house anymore and millennials."

Hartmann says he started building homes after the housing crash as an alternative for people who lost homes to foreclosure and wanted time to recover financially before looking at home ownership again. Instead, he found that more people with the resources to purchase homes were choosing to rent instead.

The renters say they prefer the home and neighborhood amenities these rentals offer, including yards, patios, and community pools. In areas with rising housing prices, such as Denver, the rentals also offer an option for people reluctant to commit to long-term mortgages, notes Arnold. "In the past year, developers around the country built more than 40,000 homes as single-family rentals, the National Association of Home Builders says."

Wednesday, October 16, 2019 in NPR - All Things Considered

Sweeping view of Portland, Oregon with Mt. Hood in background against sunset sky.

Oregon Passes Exemption to Urban Growth Boundary

Cities have a one-time chance to acquire new land for development in a bid to increase housing supply and affordability.

March 12, 2024 - Housing Wire

Aerial view of green roofs with plants in Sydney, Australia.

Where Urban Design Is Headed in 2024

A forecast of likely trends in urban design and architecture.

March 10, 2024 - Daily Journal of Commerce

Cobblestone street with streetcar line, row of vintage streetlights on left, and colorful restaurant and shop awnings on right on River Street in Savannah, Georgia.

Savannah: A City of Planning Contrasts

From a human-scales, plaza-anchored grid to suburban sprawl, the oldest planned city in the United States has seen wildly different development patterns.

March 12, 2024 - Strong Towns

Aerial View of Chuckanut Drive and the Blanchard Bridge in the Skagit Valley.

Washington Tribes Receive Resilience Funding

The 28 grants support projects including relocation efforts as coastal communities face the growing impacts of climate change.

March 18 - The Seattle Times

Historic buildings in downtown Los Angeles with large "Pan American Lofts" sign on side of building.

Adaptive Reuse Bills Introduced in California Assembly

The legislation would expand eligibility for economic incentives and let cities loosen regulations to allow for more building conversions.

March 18 - Beverly Press

View from above of swan-shaped paddleboats with lights on around artesian fountain in Echo Park Lake with downtown Los Angeles skylien in background at twilight.

LA's Top Parks, Ranked

TimeOut just released its list of the top 26 parks in the L.A. area, which is home to some of the best green spaces around.

March 18 - TimeOut

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.