Study: Atlanta emerges as national leader for build-to-rent houses

Josh Green

Fri, 02/28/2025 – 08:09

When the Sugarloaf Landing project opened south of downtown Lawrenceville in January, its builders celebrated the fact that a dozen leases had been signed in a single month.

For $2,400 per month (and up), the community offers 114 townhomes, all of them three-stories tall and less than 2,000 square feet. None of them are for sale. But like so many other new build-to-rent home ventures dotted across the metro, Sugarloaf Landing offers options for quick move-ins, fewer long-term commitments, and more room for renters to breathe than standard apartments.

The project is indicative of a BTR trend that’s as hot in Atlanta as almost any other city in the country.

That’s according to analysts with Point2Homes.com, a nationwide real estate listing portal for rental homes, who’ve been tracking the country’s BTR “boom” as housing prices and interest rates have ballooned.

According to the study, metro Atlanta ranks third in the country for the number of BTR houses and townhomes in the pipeline, trailing only metro Phoenix and Dallas, respectively.

The Atlanta-Sandy Springs-Roswell area currently counts more than 6,800 BTR units that are permitted or under construction across 43 different communities.

That’s more units than most full states, including California, per Point2Homes’ findings.

Georgia, meanwhile, has emerged as a BTR leader on a statewide basis, with the fifth most units in the pipeline (9,872) in the U.S., a ranking led by Texas (21,812). When those homes deliver, the Peach State’s BTR housing stock will increase by nearly 87 percent, per the analysis.

Point2Homes, which uses Yardi Systems data, considered only forthcoming BTR communities with at least 50 standalone houses or townhomes.

As with other metros, the BTR model has drawn criticism around Atlanta for claiming available land that could have gone to for-sale housing, where first-time homebuyers in particular could start to build wealth via equity. Advocates say it allows occupants flexibility that mortgages don’t.

The new Sugarloaf Landing in Lawrenceville features 114 townhomes, all of them for rent. Courtesy of Parkland Residential

Meanwhile, according to a separate report last month, metro Atlanta home prices have surged by nearly 60 percent since the COVID-19 pandemic started.

That means the median home sale five years ago around Atlanta was roughly $255,000, while today it’s $405,000, according to Georgia MLS’ tally for 2024.

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