1. United States
2. Ariz.
3. Letter

Corporate investors have purchased hundreds of thousands of single-family homes across the United States, particularly in Sun Belt states like Florida, Texas, and Georgia. These rental home corporations, backed by private equity groups and investment firms, are rapidly accumulating housing stock. MetLife Investment Management analysis suggests institutional investors could control over 40% of all U.S. single-family rental homes by 2030. While providing some additional rental housing supply, this trend raises concerns about housing affordability and access as prices in key markets have risen faster than national averages. Between January 2020 and January 2023, rents for two-bedroom detached homes increased around 44% in Tampa, 43% in Phoenix, and 35% near Atlanta, compared to 24% nationwide. A legislative effort known as the Stop Wall Street Landlords Act aims to prohibit the future corporate purchase of single-family homes. This would help preserve homeownership opportunities for individuals and families, rather than enabling institutional investors to convert residential properties into revenue streams. Prioritizing personal homeownership over institutional investors could promote housing affordability and equitable access to the housing market.