A new residential route

Houston ranks No. 2 in U.S. for number of built-to-rent homes

There are some 3,600 built-to-rent homes in the DFW area.

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Houston remains a booming market for home sales, with sales shooting up by 10 percent from December 2020 to December 2021. But for those who feel like they’re priced out of the homebuying market, an alternative is gaining ground — built-to-rent homes.

This trend is so popular in the Greater Houston area that the region ranks fourth in the country for the number of homes in built-to-rent communities. That’s according to a new study from rental platform RentCafe, which puts the number of built-to-rent homes in the Greater Houston area at 3,600.

Drilling down on a specific city-by-city basis, Houston ranks second in the U.S. for the number of built-to-rent homes (1,620), according to RentCafe. Dallas proper ranks fifth, with 1,270 built-to-rent homes. San Antonio proper ranks seventh, with 960 built-to-rent homes, and the city of Austin ranks 13th, with 760 built-to-rent homes.

“One of the largest cities in the country in terms of surface area, Houston is able to accommodate large residential communities and respond to the high population influx it’s experiencing as one of the most popular destinations for business relocation,” RentCafe says.

Treviso Gardens, a community of 644 single-family rental homes in Katy, ranks eighth among the country’s largest communities for built-to-rent homes. Treviso Gardens, completed in 2021, is 99 percent occupied, according to Yardi Matrix.

Only the Phoenix metro area (6,420) and Columbus, Ohio (4,780) metro area outpace DFW for the number of built-to-rent homes.

The RentCafe study is based on December 2021 data for built-to-rent communities containing at least 50 single-family rental homes. RentCafe performed its analysis with data from data provider Yardi Matrix, a sister company.

Yardi Matrix defines built-to-rent communities as those where at least half of them do not share walls with other homes, or have shared walls but do not have upstairs or downstairs neighbors or have a direct-access garage.

“Cleverly described by some as ‘horizontal apartments,’ communities of houses built for the sole purpose of renting are becoming the hottest topic in residential living,” RentCafe declares.

As such, rents for single-family properties are climbing. In November, single-family rents in the U.S. jumped 11.5 percent compared with the same time a year earlier, according to CoreLogic Single-Family Rent Index.

Shannon Hersker, a director at commercial real estate finance company Walker & Dunlop, says built-to-rent homes don’t appeal to just one demographic.

“There is a misconception that the majority of renters are millennials when, in reality, you have everyone — including college students, empty nesters, families with kids, pet owners, and those wanting to downsize,” Hersker tells RentCafe.

Two other Texas metro areas rank among RentCafe’s top 20 built-to-rent markets:

No. 3 Dallas-Fort Worth, with 4,290 built-to-rent homes.
No. 13 Austin, with 1,390 built-to-rent homes.

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HAUTE PROPERTIES

675-acre Hill Country ranch where George Strait rehearsed lists for $19.5M

Photo by Michelle Watson CultureMapSnap

George Strait developed his early sound at Lone Woman Ranch.

Lone Woman Ranch, the Hill Country estate where country stars like George Strait, George Jones, and Ace in the Hole Band rehearsed, is up for sale for $19.5 million.

Located 65 miles from San Antonio in Hays County on 675 acres, the secluded ranch once served as an artistic getaway for emerging Texas artists. The property, listed by Olmos Park firm Republic Ranches. is named after the nearby Lone Woman Mountain, and its elevation gives an incredible view of the county. On a clear day, you can see downtown Austin.

The land comes with two residences, both built near the entrance gate. The primary stone house has original hardwood floors, a recently remodeled kitchen and bathrooms, as well as a new HVAC system. The secondary residence was used as a rehearsal space. Both have had long-term residents who made improvements, and both have their own septic systems, wells, and electric meters.

The real appeal of Lone Woman Ranch, however, is the extensive woods, creeks, and natural setting. It is next to 6,000 acres of conservation land, including Storm Ranch. The entire mountain is also included in the property, making it a veritable mini-kingdom for the owner with unobstructed privacy on three sides.

Two ponds are on the site — a 4-acre and a 1-acre — both fully stocked. Runoff from the larger pond creates picturesque seasonal limestone waterfalls.The surrounding woods are full of wildlife, including white-tailed deer, turkeys, doves, and more. The property is under wildlife exemption.

It's little wonder the ranch was a muse to so many country musicians. A network of ranch roads provides access throughout the property, including most of the way up Lone Woman, giving views around every corner. Only Strait can tell you whether his 1996 hit "King of the Mountain" was inspired by the ranch.

Photo by Michelle Watson CultureMapSnap

George Strait developed his early sound at Lone Woman Ranch.

ranches hill country hays county celebrities george strait george jones listings