TUCSON, Ariz. (KGUN) — Tucson ranks third in the country for built-to-rent housing with 1,320 single-family rentals, beating out Phoenix's 1,280 units in the city proper.
RentCafe.com ran the numbers, revealing built-to-rent homes are expected to hit an all-time high in 2022.
The apartment listing service says this is fueled by the need for space and privacy, as well as a result of the pandemic.
"Undoubtedly, coronavirus has also impacted upon this increased popularity,” shared Christopher Michael, architect and founder of Archisoup. “Many are now moving out of the cities and apartment living to seek out more space in rural and suburban locations."
This trend is reflected across the country, including an estimated 14,000 built-to-rent homes currently under construction.
Per RentCafe.com, this trend appeals to everyone of all ages.
"There is a misconception that the majority of renters are Millennials when, in reality, you have everyone — including college students, empty nesters, families with kids, pet owners, and those wanting to downsize," said Shannon Hersker of Walker & Dunlop.
Las Vegas tops the list at number one with 2,520 single-family rentals.
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