According to a new report from Point2homes, the Build-Torrent (BTR) housing market has continued to rise in 2024, reaching a historic milestone with 39,000 new detached home rentals completed across the US. Based on Yaldie Matrix data as of March 2025, this figure rose 15.5% in 2023, highlighting the rapid growth of the sector since the pandemic era with approximately 6,000 to 7,000 units completed per year.
Point2homes ‘ analysis The BTR model, which combines the appeal of low rental maintenance with the privacy of detached homes, highlights the BTR model, which has evolved into one of the fastest growing segments of single-family home construction. Currently, the sector accounts for nearly 10% of all home builds, a sharp rise from 3% just a few years ago.
Southern and Southwest Metros lead billing
Phoenix led the country last year with BTR completions with 4,460 new units, up 18% year-on-year. It was followed by Dallas with 3,197 completions and 3,035 Atlanta. These three metros, along with Houston (2,505 units), are the core of the rapidly expanding BTR frontier in the south and southwest.
Other metros with over 1,000 new detached house rental units completed in 2024 include Charlotte, North Carolina (1,415). Jacksonville, Florida (1,201); Huntsville, Alabama (1,098); Columbus, Ohio (1,018); Tampa, Florida (1,005).
In total, the top 10 states with BTR completions in 2024 were led by Texas (6,994), followed by Florida (5,379), Arizona (4,812) and Georgia (4,095). North Carolina, California, Ohio, South Carolina, Alabama and Utah also all but South Carolina recorded five-year highs and significant growth in completion.
The inventory pipeline remains strong
The BTR sector not only looks back on a record year, but is also preparing for continuous growth, with about 110,000 single-family rentals currently in various stages of development. This includes 76,000 units under construction and almost 34,000 units in the permit pipeline.
Phoenix again developed all US Metros with 13,010 units, followed by Dallas (8,450), Atlanta (6,644), Charlotte (4,886) and Houston (3,969).
The driver of growth
The continued expansion of the BTR sector is driven by several important trends. These include millennials who form families, but they cannot afford to buy homeownership. These include high-income renters who choose ownership, retirees seeking a less-maintainable lifestyle, and remote workers who need more living space.
Plus, burgeoning states such as Texas, Florida and Arizona continue to attract new residents and increase demand. Between 2023 and 2024, Texas added nearly 563,000 people, Florida gained more than 23 million residents, and North Carolina exceeded 11 million.
The largest community completed in 2024
Among the largest BTR communities completed in 2024 was Litsey Creek Cottages in Roanoke, Texas, with 396 units. Other important completions include 364 units of Viviano from Riverton, Utah, and 334 units of camelback bungalows from Phoenix. These projects include extensive amenities such as a swimming pool, clubhouse, fitness centre and playgrounds.
Overview of 5 years of growth
From 2019 to 2024, the total number of completed BTR homes has more than doubled from about 107,000 to 217,000 units. Phoenix led all metros with 12,702 completions over the last five years, followed by Dallas (10,413), Atlanta (7,553) and Houston (5,250).
In particular, metros like Charlotte, Jacksonville and Huntsville saw some of the most significant percentage increases, with Huntsville increasing stock by 1,368% compared to 2019.
Image: envato
