The build-to-rent market continues to gain momentum, reshaping the housing landscape with an impressive pipeline of single-family rentals under development. The recent Point2Homes build-to-rent report revealed that, as of January 2025, there are over 110,700 single-family rentals under construction in over 600 communities across the U.S. And while nationwide, the build-to-rent growth is in full swing, Arizona stands out as a key player in meeting renters halfway.
As demand for house rental options rises, the state is becoming a central hub for build-to-rent developments, rapidly reshaping the state’s housing landscape with thousands of single-family rentals currently in the works. Arizona, with its abundance of available (and somewhat cheaper) land, economic opportunities, and growing population, is particularly well-positioned to lead the way in build-to-rent (BTR) communities — for developers and renters alike.
Key Highlights:
- Arizona, a major player in the fast-growing BTR market: with nearly 14,000 single-family rentals in the pipeline, it’s second only to Texas.
- Phoenix metro, a build-to-rent powerhouse: Arizona’s largest metropolitan area is driving nearly all of the state’s construction activity, with 13,100+ units currently under development. That’s more than the total in many U.S. states.
- The city of Phoenix outshines entire states: with nearly 2,700 single-family rentals in the pipeline, the state’s capital is building more than the likes of Colorado or Utah.
- Suburban hotspots add to the momentum: albeit at a smaller scale, Buckeye, Surprise, Goodyear, and Queen Creek have additions underway, each working on over 1,000 house rentals.
Arizona’s Build-to-Rent Rise: Nearly 14,000 New Single-family Homes on the Horizon
Upon delivery, the house rental supply in the state will increase by more than 76%
The Southwest is leading the charge in this build-to-rent revolution. Alongside Texas, Arizona’s wide-open spaces, friendlier building regulations, and fast-growing cities are making it a magnet for new rental communities.
Arizona is poised to deliver 13,972 houses for rent in the coming future — an optimistic volume surpassed only by Texas’ 21,800 units. This will increase the state’s rental housing inventory by a staggering 76.3%, offering much-needed options to meet the demand.
A strong job market, a growing population, and a rising interest in sustainable living fuel this surge in development. Thousands of single-family homes are popping up, giving renters more options than ever. These renters — many of them remote workers or entrepreneurs — seek space, privacy, and flexibility without the long-term commitment of homeownership.
Arizona’s thriving economy and job opportunities are magnets for potential new residents. The state has been attracting professionals and families alike — an influx that has driven developers to respond with innovative rental communities designed to offer more space, better amenities, and eco-friendly living.
Smaller Cities Lead in Growth as Most Big Cities Hold Back
4 AZ cities expect over 100% increase in inventory; Supply in Casa Grande set to grow sixfold
As expected, the capital city is set to deliver the largest number of houses for rent in the near future, with 2,695 units currently in the works. Next up is Buckeye, the U.S. city with the fourth largest number of rentals in development: nearly 1,900.
Also adding to the state’s build-to-rent pipeline are Surprise, Goodyear, and Queen Creek, each with around 1,000 homes for rent. While other cities like Tucson, Chandler, or Gilbert are also stepping into the BTR scene, their contributions pale in comparison, with about 100-200 single-family homes under construction.
Phoenix might be the state’s undisputed build-to-rent machine, but it gets outshined in terms of growth rate — and not by the cities you might think.
Number of units aside, smaller areas with lower inventories and room to spare are leading in percentage increases. Apache Junction and Queen Creek, for example, are set to more than double their rental inventories with the units currently in development.
Less than an hour away from Phoenix, Casa Grande is experiencing a transformative boom, with a striking 600% increase in rental supply. Known for its historic charm, thriving downtown, and strong sense of community, the addition of 700 single-family rentals will reshape the local housing market and cater to a growing demand for more spacious rental options as Casa Grande aims to expand rental availability.
Phoenix Metro: The Powerhouse Propelling Arizona’s Build-to-Rent Growth
A metro area with more developments in the works than most states
The Phoenix-Mesa-Chandler metropolitan area emerges as the undisputed leader in the state’s build-to-rent boom. In fact, the single-family rentals currently under construction in the metro account for nearly all the BTR efforts in the state.
Local real estate developers are set to deliver an impressive 13,113 house rentals in expansive communities like The Canopy at Sundance or Village at Bronco Trail (both with 350+ house rental units). In comparison, the Tucson metro plans 659 units, and the Flagstaff metro gears up for 200.
With such a high construction volume, the Phoenix metro handles more upcoming rentals than any other metro in the U.S. Plus, it’s currently building more houses for rent than most U.S. states, with the exception of Texas and Florida.
Living and renting in Arizona's largest metro area typically comes with economic and professional opportunities and a favorable climate to boot. Comfort and safety also play a role, with most build-to-rent communities featuring detached homes, private yards, gated access, security cameras, and community centers.
Home to tech companies and thriving industries, the Phoenix metro attracts renters, builders, and businesses alike. It doesn’t hurt that developers in “the birthplace for build-to-rent homes” benefit from relatively affordable land and fewer constraints when planning large-scale projects.
The cycle is self-reinforcing in this prime hub for BTR developments: more residents mean more renters, which means more demand, which means more developers and investors.
This trend extends to the state level as well. From the bustling neighborhoods of Phoenix to smaller-scale projects in Tucson, Arizona is set to welcome thousands of new single-family rentals designed to meet the needs of its growing population.
Methodology
Point2Homes.com is a real estate listing portal for rental homes across the United States. Part of Yardi Systems, Point2Homes covers housing trends and news through comprehensive studies that draw from internal data, public records, governmental sources, and online research.
- This study is exclusively based on data related to build-to-rent communities containing at least 50 single-family rental units.
- This analysis was performed by Point2Homes using data provided by our sister company, Yardi Matrix. The data includes only properties defined as single-family homes for rent that are located in build-to-rent, professionally managed communities in the markets covered by Yardi Matrix research. Data for some markets may not be available and data for the locations included in the analysis may be subject to change. This analysis does not include other types of single-family rentals that are not located in build-to-rent communities.
- Build-to-rent communities are defined by Yardi Matrix as communities where at least 50% of the units fit one of the following criteria: (1) They do not share any walls with other units, or (2) they have shared walls, but do not have neighbors above/below or have a direct-access garage.
- For the purposes of this study, we considered as "units in the pipeline in 2025" all units that are a) currently under construction and b) currently planned (units that have already been permitted).
- "Units under construction" haven't received a certificate of occupancy by the end of December 2024 or are currently being built. Under construction data may be incomplete and is subject to change. "Planned units" are units for which all zoning issues have been resolved and the appropriate legal institution has signed off on and approved the development proposal submitted.
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