A new trend is emerging in the housing market as more Americans struggle to afford traditional homeownership. The rise of ‘build-to-rent’ communities is offering a unique solution to the housing crisis, providing renters with the opportunity to live in high-quality, modern homes without the burden of ownership.

One such community is located in Montgomery, Texas, where residents like Richard Belote are enjoying the benefits of renting in a well-designed neighborhood. Belote, along with his fiancée and their two huskies, has found a temporary home that meets all their needs and preferences, despite not owning the property.

Build-to-rent communities have historically catered to senior populations, but there is a growing demand among younger tenants who are priced out of the traditional housing market. In 2023, over 97,000 build-to-rent homes were completed, marking a 45% increase from the previous year and setting a record for the industry.

While build-to-rent properties still represent a small portion of the overall housing market, they offer a promising solution to the affordability crisis. Renting has become a more viable option than buying in the majority of U.S. counties, with factors such as high mortgage rates and escalating home prices making homeownership unattainable for many.

Experts believe that the expansion of rental options, including build-to-rent communities, is a positive step towards addressing the housing shortage and providing Americans with more accessible housing choices. As the housing market continues to evolve, these innovative rental developments may offer a new path to achieving the American Dream of comfortable and secure living spaces.