Phoenix ranks No. 1 nationally for both the most build-to-rent (BTR) units delivered in 2024 and the most units delivered over the past five years, according tom the latest Point2Homes Build-to-Rent report. That marks an impressive 309% build-to-rent inventory increase  for Phoenix compared to 2019. 

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Here are some of the main highlights: 

  • Phoenix at the Forefront of Build-to-Rent Growth: Last year, Phoenix added 4,460 new single-family rentals to its BTR inventory — the highest total of any metro. Phoenix also holds the record for most BTR units delivered since 2020 — a total of 12,702. 
  • The Third-Largest BTR Community: The metro is also home to The Bungalows on Camelback, which completed 334 new units in 2024, making it the third-largest new community in the U.S. 
  • The South’s Top Metros: Phoenix is followed by two other Southern powerhouses — Dallas delivered 3,197 new house rentals in 2024, while Atlanta expanded its rental inventory by more than 3,000 units.  
  • Continued Expansion Ahead: The entire BTR sector reached a historic high with 39,000 new units completed in 2024, a 15.5% increase from 2023 and ten times higher than 2015. This expansion is set to continue, with nearly 110,000 single-family rental homes currently in the pipeline across the country. Phoenix will remain a key player, with more than 13,000 additional homes planned or under construction in the coming years. 

Phoenix; Dallas; Atlanta & Houston Are Epicenters of BTR

No matter how well states are doing, there are metro areas across the country that added more new single-family rentals than entire regions combined. This is mostly due to the more expansive metro areas in states like Texas and Arizona and the potential this creates for the development of sprawling communities of house rentals. As such, it’s Southwestern and Southeastern metros that lead with the most completions, driving most of the growth in the BTR sector.

Phoenix leads the way with an impressive 4,460 new units added in 2024, which represents an 18% increase compared to the previous year. Arizona’s largest city and capital, Phoenix is home to four Fortune 500 companies and thrives on key industries like real estate, finance, insurance, and manufacturing—making it a magnet for both residents and newcomers. And a closer look at the metro’s population growth is proof that the region is going in the right direction: In one year alone, between 2023 and 2024, the Phoenix metro added 85,000 new residents — the sixth highest net gain out of all of the metros in the nation.