- Nearly 42,000 build-to-rent units are under construction in the South, leading all US regions.
- Phoenix leads all markets with over 9,000 BTR units underway, followed by Dallas and Atlanta.
- The Sun Belt continues to dominate BTR development, capturing the majority of new activity.
- About 60% of BTR construction is concentrated in 18 markets nationwide.
Southern Surge Drives Build-to-Rent
Build-to-rent (BTR) development is surging across the US—especially in the South, where about 41,700 units are currently under construction, according to RealPage Market Analytics. Nationwide, roughly 68,700 BTR units are in the pipeline, reflecting ongoing demand for rental alternatives that offer single-family living benefits.
Regional Leaders and Market Concentration
The Sun Belt region remains the epicenter of BTR growth, boasting nearly 55,000 units underway as of February 2026. The West accounts for an additional 16,100 units, while the Midwest and Northeast trail with 9,100 and 1,760 units, respectively.
Activity is highly concentrated, with around 60% of all build-to-rent construction occurring in 18 markets. Phoenix leads all metros with more than 9,000 units in progress, followed by Dallas (5,900 units) and Atlanta (3,700 units). Phoenix’s outsized pipeline has positioned the metro as the clear national leader in BTR development, underscoring how investor capital continues to favor high-growth Sun Belt markets. Other leading markets include Charlotte, Houston, Raleigh/Durham, and Nashville.
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Submarket and Pipeline Insights
Several Sun Belt submarkets stand out for their volume of BTR construction, including Avondale/Goodyear/West Glendale (2,900 units), Pinal County, Deer Valley (all near Phoenix), and Southeast Raleigh. Two Dallas submarkets, as well as Bradenton and North Savannah, each have over 1,000 units underway.
Though the pace has cooled from earlier peaks, about 8,600 planned BTR units are still tracked nationwide, showing ongoing developer interest in BTR as a key multifamily segment.
