US Single-Family Built-for-Rent Construction Off to Sluggish Start in Q1
Single-Family Built-to-Rent Slowed at Start of 2026
A closer look at US Census Bureau data from the Quarterly Starts and Completions by Purpose and Design Survey, with analysis from the National Association of Home Builders (NAHB), shows there were approximately 14,000 single-family built-for-rent (SFBFR) starts in Q1, down from 19,000 homes in 2025Q1.
Over the last four quarters, 62,000 SFBFR homes began construction, a 26% decline from the estimated 84,000 starts recorded during the prior four-quarter period.
NAHB noted that single-family built-for-rent homes differ structurally from other newly built single-family homes, especially with respect to home size. However, investor demand for both existing and newly built single-family homes has cooled alongside higher interest rates.
Given the relatively small size of this market segment, the quarterly movements typically are not statistically significant. Still, the current four-quarter moving average market share of just under 7% remains above the historical average of 2.7% recorded between 1992 and 2012.
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