{"id":29488,"date":"2021-07-08T05:00:00","date_gmt":"2021-07-08T12:00:00","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=29488"},"modified":"2026-02-22T15:27:48","modified_gmt":"2026-02-22T23:27:48","slug":"single-family-rentals","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/single-family-rentals\/","title":{"rendered":"Single Family Rentals"},"content":{"rendered":"\n

Is there a market for renters who want it all? Privacy, outdoor living space, a manicured lawn and financial flexibility are available to renters of single-family homes. Research<\/a> reveals that interest in single family rentals has been growing since the Great Recession. The pandemic further ignited demand, as demonstrated by a surge in the construction of single-family rentals.<\/p>\n\n\n\n

As the market develops, specialized technology is necessary for smart growth.<\/p>\n\n\n\n

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Industry powerhouses set their sights on single-family rentals  <\/strong><\/p>\n\n\n\n

In mid-2020, the first wave of institutional buyers made their mark on the industry. During Q1 2021, they continued the trend by purchasing nearly 55,000 homes, according to Redfin data.<\/p>\n\n\n\n

Built-to-rent single family homes are also taking off. New York-based Trepp real estate analytics firm reports a 66% increase in single-family homes built to rent. Both homebuilders and apartment companies are entering the market.<\/p>\n\n\n\n

Builders such as Lennar Corp., the largest homebuilder in the nation by revenue, and multifamily behemoth Greystar Real Estate Partners are investing in single-family houses. Mike Clow, executive director at Greystar, aims to increase investment in the division by a noteworthy 1,566.66% percent<\/a> by 2026. Operator Invitation Homes announced that it will spend $1 billion in single-family home acquisition in 2021, per an interview with Business Insider<\/a>.<\/p>\n\n\n\n

While major players are pumping major dollars into the sector, small landlords still own the majority of single-family rentals. Only about 6% of new homes are built-to-rent.  <\/p>\n\n\n\n

Single-family rental data by Yardi Matrix<\/strong><\/p>\n\n\n\n

The demand for single-family rentals is reflected in the strength of rents and occupancy. Yardi Matrix reporting now includes insights into built-to-rent single-family communities. Data is compiled from more than 90,000 units in 700 communities nationwide.<\/p>\n\n\n\n

Single-family rentals (SFR) thrived during the pandemic. The industry recorded a powerful 7.3% year-over-year (YoY) rent growth as of May 2021. This reflects an overall rent increase of about $14 in May to $1,761. <\/p>\n\n\n\n

National occupancy rates of 96.6% in April (a 1.5% increase from a year ago) demonstrate the continuing strength of the market. The Inland Empire lead in rent growth, reporting an 18.3% increase YoY. Phoenix and Denver also performed well at 15.3% and 13.5%, respectively.<\/p>\n\n\n\n

Learn more about the Yardi Matrix multifamily and single-family rental reports.<\/a><\/p>\n\n\n\n

Managing single family rental communities<\/strong><\/p>\n\n\n\n

Built-to-rent single-family homes are a relatively new sector. Industry professionals are still developing their best practices for management.<\/p>\n\n\n\n

Many pioneers blend the roles of property management and a homeowner association. Routine maintenance, repairs and landscaping are all handled by the organization. Multifamily property management software, however, faces major limitations when applied to single-family homes.<\/p>\n\n\n\n

Designated single-family rental management software<\/a> empowers property managers with the tools necessary to efficiently operate their communities.<\/p>\n\n\n\n