As Houston faces a 43% spike in home prices over five years, build-to-rent communities are becoming a popular choice for residents seeking flexibility. Single mom Africa Releford shares why she embraced renting over buying.
There are a lot more build-to-rent communities popping up in Houston, giving people an option while home prices are going through the roof. Africa Releford, a single mom who changed her mind about buying a house, is one of many people who are now following this trend.
Releford moved into her rental home in Rosharon in March. She was almost ready to buy a house but was scared of all the hidden costs. She asked, "It just occurred to me—why don't you just rent?"
The Kinder Institute for Urban Research's 2024 "State of Housing" report says that housing prices in Houston have gone up 43% between 2018 and 2023, which is reflected in her pick. Realtors say that rising prices are caused by a growing supply and demand problem as more people move into the area.
Tim Surrat, a real estate agent with Greenwood King Properties, saw that build-to-rent choices were becoming more and more popular. Surrat said, "This is a new trend in the last five years." He also said that villages like Balcara at Meridiana are seeing a lot of demand, with 30 people moving in just in July.
When there aren't enough flats, builders like Greystar are turning their attention to rental home communities like the Preserve at Highway 6. Surrat said, "We've added 120,000 people to Houston, but there aren't enough homes to go around for two months."
As the prices of both homes and rentals go up—up 5% for homes and 3% for rentals—build-to-rent communities offer a middle ground for people who want flexibility but don't want to take on the financial load of homeownership. It's a good way for people like Releford to make ends meet in a tough market.
