Flat growth for single-family built-for-rent
Single-family built-for-rent (SFBFR) construction remained flat year-over-year in the first quarter of 2025, with approximately 19,000 starts, mirroring the same period in 2024. Over the past four quarters, 84,000 SFBFR homes were initiated, reflecting a 4% increase compared to the previous four quarters. This market segment now comprises 8% of all single-family starts, a significant rise from the historical average of 2.7% between 1992 and 2012. Despite its growth, the SFBFR sector faces challenges due to elevated financing costs, which have tempered investor demand and may lead to a slowdown in construction until market conditions improve.
