New Thought Leadership Paper Offers Data-Backed Insights on How BTR is Reshaping Rental Housing
Halstatt Real Estate Partners, a real estate private equity firm, today announced the publication of its latest thought leadership piece, Revisiting the BTR Boom: A Perspective Check from Early Movers. Drawing on five years of investment experience and insights from more than 1,350 Build-to-Rent (BTR) units, this thought leadership piece delivers a data-driven look at how the sector has evolved and where it’s heading.
“Institutional interest in BTR has expanded considerably over the past five years, supported by the sector’s ability to deliver consistent, data-driven performance and by macroeconomic forces that continue to expand the tenant base,” says Steve Iannaccone, managing principal, Halstatt Real Estate Partners. “Higher interest rates have priced many financially qualified households out of homeownership, pushing more demand into the rental market. At the same time, a meaningful share of our BTR residents are fully capable of purchasing a home but deliberately choose the ease, flexibility, and lack of long-term commitment associated with renting. This convergence of structural demand growth and institutional scalability positions BTR as one of the most compelling residential segments for long-term investors.”
Key Insights from Revisiting the BTR Boom
- Structural demand: BTR serves households who are both financially qualified and lifestyle-driven renters, many of whom are precluded from homeownership by supply constraints, high entry costs, and elevated mortgage rates.
- Resident profile: Millennials account for nearly 50 percent of Halstatt’s BTR households, with Gen X and Baby Boomers also represented. More than half of households include at least one pet, and over 25 percent lease homes with excess bedrooms — underscoring demand for space that supports remote work and flexible living.
- Portfolio performance: Across Halstatt’s BTR communities, rent-to-income ratios remain well below national averages, demonstrating strong tenant quality and supporting steady lease-up and absorption.
- Design efficiency: Purpose-built BTR communities with smaller, highly functional floorplans have proven to maintain both attainability and demand resilience, even as supply expands in competitive markets.
“BTR continues to resonate because it addresses a fundamental gap in the housing market — households that value space, privacy, and quality of life but are either priced out of or uninterested in homeownership,” said Erin Elferdink, associate at Halstatt Real Estate Partners. “From an investor perspective, the segment provides diversification and resilience, while operationally it delivers communities that can be phased, stabilized, and adapted to evolving renter expectations. For residents, the appeal lies in the comfort of a single-family home environment paired with the flexibility and efficiency of renting, which positions BTR as both a lifestyle choice and a durable investment opportunity.”
To date, Halstatt has committed to seven BTR projects totaling more than 1,350 units. The firm’s portfolio includes three projects in Fort Myers, Fla., and additional projects in Bonita Springs, Fla., Sarasota, Fla., Austin, Texas, and Columbus, Ohio. This geographic diversification reflects Halstatt’s emphasis on Sun Belt markets characterized by favorable demographics, sustained in-migration, and persistent supply imbalances.
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