Build-to-rent-focused developers, homebuilders, investors, and REITs are behind 5 to 10% of new single-family homes being built in the U.S. today. (This is separate from our calculations of how much of the existing rental stock is owned by investors, since BTR properties are owned and managed by the firms who develop them.) BTR communities tend to be located in urban and suburban neighborhoods of high-growth, lower-cost metros throughout the Sun Belt, particularly in the southeastern U.S.
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