An additional benefit of build-to-rent housing? A cure for loneliness.

What is build-to-rent housing?

Can build-to-rent housing be a cure for loneliness? Build-to-rent (BTR) housing is an emerging trend in residential real estate designed to meet the changing housing needs of the American populace. BTR developments are broadly characterized as 50+ standalone or townhomes in a suburban or exurban area with communal amenities such as gyms, pools, and green spaces. Owned by investors, as opposed to individual homeowners, BTR communities are professionally managed, many with leasing offices onsite. Home and lawn maintenance are provided by the management company, reducing the burden of upkeep on tenants.

For families in need of space but who lack the money for a down payment- BTR homes are an affordable, practical option. Homes are spacious, pet-friendly, have yards and garages, and are distinct from other multifamily dwellings in that there are no upstairs or downstairs neighbors. BTR communities offer privacy, without sacrificing the community benefits of traditional multifamily dwellings.

BTR developments also serve suburban areas where rental homes or apartment buildings are scarce. These developments provide a much-needed option for renters looking for accessibility to suburban schools and workplaces.  Leaders in BTR include Christopher Todd Communities, Moda Homes, and Lennar Corp. Taken together, these developers have expanded the number of available, affordable single-family homes all over the country- especially in the fastest growing housing markets.

With rising inflation and rising rates, the ability and cost to own a home has also outshot the cost to rent in areas desiarable to young families. BTR helps provide a solution for those unable to afford the monthly cost as well as the initial down payment.

So how does BTR housing address loneliness?

The recently declared loneliness epidemic is an alarming public health emergency in the United States. Approximately half of all U.S. adults have reported experiencing feelings of loneliness and have trouble establishing and maintaining friendships. The Covid pandemic has exacerbated loneliness and been particularly hard on young adults and mothers of young children. The lack of spaces for social connection and opportunities for forging secure communities has played a role in the onset of this. More and more, adults are spending their time alone as seen by this chart.

In response to the increasing prevalence of loneliness, urban areas have seen a resurgence in the popularity of shared housing. Dormitory-style living, geared towards individuals in their twenties and thirties, has been praised by many residents as a great way to build community in a new city. However, for families or partnered couples, dormitory-style living isn’t attractive or realistic. Single-family homes are the most common option for these demographics, but traditional suburban life can be isolating, and offers no assurance of neighborhood or community.

With more Americans citing that they have few relationships outside of work and cohabiting family members, the need for community is greater than ever. BTR housing provides a community structure that facilitates connection. Shared spaces such as parks, gyms, pools, and playrooms offer spaces for friendships to be forged and maintained. They also come without the price tag of an expensive gated community or private social club.

As the loneliness epidemic has garnered increased attention, Americans are seeking solutions on a larger level. BTR housing is an example of a structural solution to a public health crisis- one that people can afford.

Come explore more about CREx Software and how we help BTR companies grow, thrive and provide much needed homes and communities.

Can build-to-rent housing be a cure for loneliness?