- Roughly 70,000 build-to-rent (BTR) units were completed in the past year, with nearly 78,000 more under construction, highlighting increasing demand for single-family rental communities.
- The South leads the U.S. in BTR development with over 48,000 units underway, followed by the West with 21,000+ units.
- The largest BTR projects completed in the last 12 months feature 350+ units each and include properties in Texas, Florida, and Miami, reflecting the geographic spread and scale of demand.
Surge in Build-to-Rent Development
Driven by lifestyle shifts, rising housing costs, and migration to high-growth metros, build-to-rent projects are scaling fast. According to RealPage, nearly 78,000 units are under construction nationwide, with the South dominating development activity.
But what’s already hit the market? Over the past 12 months, 70,000 BTR units were delivered, including several massive lease-ups. While most BTR projects average fewer than 150 units, a handful have crossed the 350-unit mark. Here are the five largest.
1. Mirella – Houston, TX
Units: 504
Completed: March 2025
Developer: Caldwell Cos.
Mirella is now the largest BTR community delivered nationwide in the last year. Located in Houston’s Cypress/Waller submarket, the project includes two- to four-bedroom homes (1,100–1,800+ sq. ft.), private yards, and attached garages. Rents range from $2,400 to $3,400.
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2. The Mansions Eight65 – Hutto, TX (Austin Metro)
Units: 458
Completed: November 2024
Developer: W3
Located northeast of Austin, The Mansions Eight65 offers one- to four-bedroom units (765–2,739 sq. ft.) with private yards and rents between $1,400 and $3,100.
3. The Mansions of Buda – Buda, TX (Austin Metro)
Units: 402
Completed: June 2024
Developer: W3
Also from W3, this project in the Austin metro provides similar layouts and features as Eight65, with rents ranging from $1,500 to $3,100+.
4. Biscayne Shores – Miami, FL
Units: 380
Completed: July 2024
Biscayne Shores is a BTR hybrid offering both luxury high-rise apartments and two-story villas. Units range from 600 to nearly 1,600 sq. ft., with prices between $2,500 and $6,900. Each villa includes a two-car garage, blending suburban perks with urban luxury.
5. Eden Heritage Lakes – West Melbourne, FL
Units: 373
Completed: Late 2024
Developer: Eden Living (Eden Multifamily)
This Florida community includes single-story villas and two-story townhomes. Unit sizes span 717 to 1,319 sq. ft., and rents run from $1,625 to $2,300.
Why It Matters
Build-to-rent homes are reshaping the American rental market, offering spacious, amenity-rich housing in suburban settings. As affordability challenges persist and renting becomes a long-term choice for many, large-scale BTR projects are likely to become a staple in housing development across fast-growing metros.
With nearly 80,000 more units in the pipeline and mega-projects continuing to lease up quickly, expect the BTR momentum to continue well into the decade.
What’s Next
Look for continued growth in BTR development across the South and West, especially in metros where job growth and housing demand remain high. Developers are eyeing even larger master-planned BTR communities as renter preferences evolve.
