As housing prices remain high, Home builder activity slows downDemand for rental properties has skyrocketed along with rents.
Developers in the Tucson area are eager to build residential communities for renters only, not apartments.
airy developmentwas one of the early local pioneers of the concept known as Built to Rent (BTR) and has built a modern community in the Oro Valley.
Linda Vista Luxury Homes There are 64 homes in the gated community at 375 W. Linda Vista Blvd.
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The homes range in size from 781 to 1,098 square feet and will begin pre-leasing next month for delivery in December.
Scott Rathbun, President of Aerie, said: “We specialize in mortgage maintenance and stress-free, peaceful and luxurious living.”
Aerie has 10 communities in the Tucson area, both BTR and luxury apartments.
Two more BTR projects are underway. Catalina Highway’s 190 homesites and Gladden Farms’ 157 homesites.
Rents for the new development have not yet been set, but rents for the existing community in Aerie are around $1,300 to $2,100 per month.
Among the top 20 metropolitan areas with the most BTR homes, Tucson ranks 16th with 1,320. Phoenix holds the top spot in the nation with his 6,420 homes.
Couples, with or without children, are driving the demand.
Some people need it because house prices are high and mortgage rates are rising, while others enjoy a low-maintenance rental lifestyle.
According to an analysis by RentCafe, a national search site for renters, “the trend is to live the lifestyle of a single-family home, while still seeking the financial and leasing flexibility of renting and the comfort and convenience of a professionally managed property.” It has sex.”
“Single-family renting is not a new concept … it surged in the aftermath of the 2008 housing crisis, but this time is different,” said the analysis. It has created a demand, which housing can handle much better than apartments.”
the number of BTR home That jumped to 13,910 this year, compared to 6,740 in 2021. With a 106% increase, the year is not over yet.
“There are currently about 90,000 existing single-family homes in the United States, in about 720 communities designed exclusively for rent,” RentCafe data shows. “Including single family homes, townhomes, duplexes and even quadplexes with backyards and garages, or sometimes both.”
Contact reporter Gabriela Rico [email protected]