Build-to-rent has been a booming business in Phoenix lately — in fact, according to a new report from RentCafe, the metro saw a 73% increase in single-family rental construction from 2018 to 2023.

With 488 build-to-rent units completed in 2023, Houston is the No. 15 metro in the nation for this type of new construction. Houston also ranked fourth in the country for deliveries in the past five years, with 2,402 units added to the market since 2018.

This trend doesn’t appear to be slowing any time soon: Houston is also the No. 3 metro in the country for build-to-rent units currently under construction, with 4,836 single-family rentals in the construction pipeline.

Based on current single-family rental inventory, that means there will be over 10,000 build-to-rent units in the area in the near future.