Single-Family Rental Ownership Remains Individual-Led

Census data show individual investors still dominate single-family rental ownership, even as LLC and estate structures gain market share.

February 20, 2026

Nina Dale

Individual investors hold 59.6% of US single-family rental properties in 2024.
LLC, LP, and LLP ownership has increased to 20.6% since 2021.
Institutional owners, including REITs and corporations, account for just 1.8%.
Trustee and estate structures are growing, pointing to demographic shifts.

Key Takeaways

Individuals Still Lead SFR Ownership

New data from the US Census Bureau’s Rental Housing Finance Survey show that single-family rental (SFR) ownership remains largely in the hands of individual investors. Despite media attention on institutional activity, almost 60% of one-unit rental properties are still owned by individuals, reports Chandan Economics.

Ownership by individual investors outpaces all other ownership structures, including partnerships, trusts, and institutional entities. As of 2024, only a combined 1.8% of SFR stock is owned by REITs and real estate corporations.

Ownership Structures Evolve

While individual investors continue to dominate single-family rental ownership, their share has declined from 70.9% in 2021 to 59.6% in 2024. There has been a notable uptick in the use of LLP, LP, and LLC structures, now representing 20.6% of properties, up from 15.2% three years ago.

Meanwhile, trustee and estate ownership grew from 1.9% to 6.8%, reflecting demographic turnover and more estates managing rental assets. These shifts suggest a trend toward professionalization and generational change, not just a surge in institutional control.

Chart showing individual investors still dominate single-family rentals at 59.6% in 2024, though down from 70.9% in 2021, while LLC and estate ownership increased.

Institutions own only a small share of single-family rentals, even when including properties held through LLPs, LPs, or LLCs. Even with some overlap, Census data confirm that the vast majority of properties fall outside institutional hands. That dynamic contrasts with parts of the office sector. In that segment, well-capitalized tech firms have recently stepped in to acquire discounted properties, highlighting how institutional capital is flowing unevenly across asset classes.

This enduring individual ownership base underscores the fragmented nature of the single-family rental market, despite rising attention on institutional investment strategies.

What’s Next for SFR Ownership

As LLC and estate ownership grows, single-family rental ownership structures may continue to formalize. Individual investors will remain the dominant force and continue shaping the SFR landscape for the foreseeable future.