Blackstone/Invitation Homes is currently the top single-family rental owner, according to the Mortgage Banker Association’s chart of the week that ranked the top 50 apartment owners and top five single-family rental owners. According to data they used from the American Housing Survey, over 14 million single-family homes in the U.S. were renter occupied in 2013. This represents 12 percent of the entire U.S. housing stock, or in other words, 1 in 8 U.S. households, and more than one-third of the rental housing stock.
“While single family rentals have comprised a relatively constant share of the stock over the last decades, institutional ownership of these homes is a relatively recent phenomenon,” the report said. “Despite the attention to it, institutional ownership appears relatively under-developed, particularly when compared to the multifamily market.”
Only two single-family rental owners would rank among the top 50 apartment owners in terms of units owned, comparing large single-family rental owners to large multifamily rental owners. Together the top five single-family rental owners own over 100,000 unites, which is less than 1 percent of all single-family rental housing. According to the chart, the top rental owners are Hunt Companies Inc., Boston Capital, and AIG Affordable housing, all apartment owners. The other single-family rental owners to make the list were American Homes 4 Rent, Colony American Homes, Starwood Waypoint, and Progressive Residential.
“Institutional interest in single-family rentals has helped open the door to new types of mortgage lending for owners of all sizes, including securitizations of mortgages,” the report said. “This past week, the first multi-borrower securitizations of single-family rental mortgages were announced.”