THE RISE OF THE RENTAL

Dallas nails ranking as No. 1 U.S. market for new built-to-rent homes in 2022

House for rent, rent sign, home for rent, rental

Renting is an increasingly appealing choice.

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With the increasing demand for housing and rising popularity of constructing homes for rent, Dallas has topped the charts as the metro area with the highest number of single-family rentals built for all of 2022.

Nearly 2,800 build-to-rent homes were completed in Dallas in 2022, which is a 10-year high, according to a new study by RentCafe.

The study also found the number of rental homes skyrocketed five times higher last year than in 2021, when only 500 rentals were completed and Dallas ranked No. 3 in the nation.

The study analyzed build-to-rent data from RentCafe's sister site, Yardi Matrix, for communities that had at least 50 single-family rental units.

Phoenix (which outpaced Dallas last year) ranked No. 2 in the latest findings with only 1,527 units completed last year. After Phoenix, single-family rentals in other American metro areas only went into the triple digits, with Atlanta, Georgia (No. 3) at 808, Greenville, South Carolina (No. 4) at 584, and Charlotte, North Carolina rounding out the top five with 475 units completed.

Dallas also had the second highest number of single-family rentals completed in the country within the last five years, totaling 3,955 units. The city ranked higher than every other Texas metro area. Phoenix took the No. 1 spot with over 6,000 build-to-rent homes completed in the same time period.

Other Texas metros that appeared in the top 10 with the highest number of build-to-rent units between 2018 to 2022 include Houston (No. 4), Austin (No. 7), and San Antonio (No. 8).

The study's findings support a growing demand for flexibility among renters who may not want the high cost and maintenance associated with home ownership, RentCafe says.

“More and more people are deciding they want the best of both worlds: the flexible lifestyle of the renter, with no maintenance commitments and costs, and the comfort and privacy offered by living in a house,” the study’s author wrote. “In this case, build-to-rent homes check all of the boxes, while high home prices and rising interest rates make them even more appealing.”

The number of single-family rentals is expected to continue rising dramatically in 2023. Currently, 4,350 units are under construction in Dallas, second only to Phoenix (again) which has nearly 5,500 units underway.

Overall, there are 44,700 build-to-rent homes being built this year throughout the nation; three times more than the number of completed homes in all of 2022, the study says.

RentCafe Study Single-Family Rentals home-for-sale homes rent reports Build-to-Rent Homes

Square Deal

Major $7.5 million development on tap for the heart of booming Celina

Renderings are courtesy of the City of Celina

Downtown project to serve up eateries, shops, offices in booming Celina

The downtown square in America's fastest-growing city, Celina, is set to undergo a $7.5 million glow up, complete with new restaurants, shops, and offices, thanks to a generous private investment.

At the revitalization project's core is the city's approved deal with Celina Real Estate LLC to construct a building at 102 N. Ohio St. and redevelop the historic Mayer Building at 313 W. Pecan St. No word yet on what tenants will occupy the two downtown Celina properties.

“Downtown is the heart and soul of Celina, and maintaining its vitality as our community grows remains one of our highest priorities,” Mayor Ryan Tubbs said in a news release. “This partnership represents an important investment in the future of downtown while building on the character and sense of place that make Celina special.”

Two developments to help transform downtown Celina
At 102 N. Ohio, the developer plans to build a two-story building incorporating a historic-style façade inspired by a former gas station at the site.

The 12,400-square-foot, $6 million building will include about 7,200 square feet of retail and restaurant space and 5,200 square feet of office space.

Downtown Celina development Two-story building incorporating a historic-style façade inspired by a former gas station planned for 102 N. Ohio. Rendering courtesy of City of Celina

At 313 W. Pecan, Celina Real Estate will renovate the Mayer Building at a cost of $1.5 million. The building will contain 5,000 square feet of restaurant space.

“Together, the projects will help bring some of the last remaining underutilized buildings around the [square] back into active commercial use,” according to the release.

The project will help downtown Celina “remain economically active, welcoming, and distinctive,” Anthony Satarino, president of the Celina Economic Development Corp. says. "Adding new dining, retail, and office opportunities creates additional reasons for people to spend time [downtown] while generating economic activity that supports the broader business community.”

Downtown Celina development Celina Real Estate to renovate the Mayer Building at 313 W. Pecan.Rendering courtesy of City of Celina

$15 million project on tap for downtown Celina
The $7.5 million project isn’t the only one planned for the historic downtown district.

In July, the city reached a deal with Nack Development to develop Trackside Junction. The $15 million project will add 15,000 square feet of retail, restaurant, office, event, and residential space.

“Downtown is where our story began, and it’s where we continue to invest in our future," Tubbs said during last summer's Trackside Junction announcement.

Celina becomes hotspot for developers
Celina has seen a flurry of real estate development lately, including at least three master-planned communities, according to Celina City Texas:

Ramble by Hillwood Communities, a 1,380-acre project with a projected 4,000-plus homes. The development includes commercial, retail, and multifamily components.
Serenade Texas, a development with more than 875 homes on more than 400 acres. The project includes a 16-acre lake, and more than 150 acres of open space.
Wildhorse, a 766-home development with parks and sports fields.

Drawn by its booming population, real estate developers have been flocking to Celina.

From 2024 to 2025, the Collin County suburb topped the U.S. Census Bureau’s list of the fastest-growing cities. In that one-year period, Celina’s population shot up by 24.6 percent to nearly 64,500.

celina celina growth downtown fastest growing cities development