Renting is becoming an increasingly popular option in suburban communities as rising home prices, high mortgage rates, and a nationwide housing shortage make homeownership less attainable for many Americans. As of June 2025, the average monthly cost of owning a starter home exceeded rent by nearly $1,900 in the nation's largest metropolitan areas, making renting a more affordable alternative.
Today, nearly six million households rent homes in suburban neighborhoods, reflecting a growing shift from ownership to renting. This trend is driven not only by affordability challenges but also by a growing preference for flexibility among households across income levels, including higher-income renters.
The expansion of the build-to-rent (BTR) sector is helping meet this demand. In 2024 alone, developers completed approximately 39,000 new single-family rental homes, increasing housing options in high-demand suburban markets. These professionally managed rental communities often offer modern amenities, convenient access to schools and employment centers, and the opportunity for families to live in desirable neighborhoods without the financial burden of purchasing a home.
As suburban rental demand continues to grow, single-family rental operators and developers are playing an increasingly important role in expanding housing access and providing flexible living options for a changing population.
Source: Invitation Homes
