Single-family, build-to-rent homes have been growing in popularity in response to the increasing demand in the housing market. Most notably, Texas has been favorable among consumers, specifically in the Houston, San Antonio, and Austin markets.
However, consumers are not only flocking to Texas to buy, but they are also increasingly switching over to renting single-family homes due to the current condition of the real estate market. Additionally, as the Millennial and Gen Z generations continue to age and join the market, their lifestyles and needs surrounding flexibility have increased the already accelerated demand for the build-to-rent sector. There is less emphasis today on owning a home and becoming stagnant and more focus on being mobile and flexible – an opportunity that is available through renting while maintaining the feel, space, and luxury of homeownership.
Even though the demand for the SFR sector was sparked by the onset of the pandemic, it is projected to remain and prosper as housing inventory remains low. In an interview with Multi-Housing News, Wan Bridge’s President & CEO Ting Qiao emphasized the longevity of the sector, saying, “The single-family rental sector, and BTR specifically, is not a fad,” and is expected to grow for the “foreseeable future”.
While low housing inventory increased tension in the housing market, Wan Bridge saw an opportunity to transform and improve the market as a whole. We reacted quickly in response to the supply shortage in an effort to “be a part of the solution,” as Qiao explained in the interview. “Currently, there is not enough supply to handle increased demand. We have continued to fill our pipeline by purchasing land since 2020, with the goal of breaking ground on 20 to 30 new build-to-rent communities in the Houston, Dallas and Austin suburbs within the next 12 months.” With added precautions due to the pandemic, Wan Bridge equally focused its efforts on maintaining schedules to help alleviate the supply shortage in Texas by diversifying sources working with multiple suppliers, establishing strong relationships with vendors and subcontractors, and implementing new safety protocols, all of which allowed for construction and purchasing commitments to continue on schedule.
As we continue on in this new climate of the real estate industry, one that is impacted by housing shortages, increased consumer demand, and a new emphasis on the need for flexibility, here at Wan Bridge we are pushing the boundaries of the traditional rental experience. To have the ease and flexibility of renting, you no longer have to purchase a home. You now can have a perfect blend of homeownership and renting through the build-to-rent sector, reaping the benefits of both.
Given that we are a Houston-based company, and we are ingrained and a part of all the major markets across Texas – Houston, Dallas, San Antonio, and Austin – we have seen the growth in the Lone Star State firsthand. So, take it from us, this new wave of renting single-family homes is not just a trend that will fade out once the market becomes more balanced. It is the future of the real estate industry as we know it.
To learn more, check out the article from Multi-Housing News featuring Wan Bridge’s CEO & President Ting Qiao. If you are looking for your next home or interested in being a part of the future of real estate, Wan Bridge is here to help! Contact us for more information on the variety of communities we have to offer, and see why more people are saying yes to renting. As we always say, you don’t have to own to call it home!