Company Now Owns Enough Single-Family Homes to House the Country of Iceland
finance.yahoo.com
finance.yahoo.com
Single-family rentals has been one of the hottest real estate asset classes over the past couple of years as home values and rent prices have soared. The largest owner of this asset class in the U.S. is Invitation Homes Inc. (NYSE: INVH), a real estate investment trust (REIT) with a portfolio of 82,758 single-family rental homes as of the end of the first quarter this year.
The company’s portfolio is mostly made up of homes in the Western U.S. and sunbelt states, where the barriers to homeownership are highest and rent demand is strong. The average monthly rent for the entire portfolio during the first quarter was $2,078, with the highest average rent being in Southern California at $2,744 per month.