{"id":162984,"date":"2026-02-20T20:29:07","date_gmt":"2026-02-20T20:29:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/162984\/"},"modified":"2026-02-20T20:29:07","modified_gmt":"2026-02-20T20:29:07","slug":"1-in-10-jacksonville-homes-are-built-strictly-to-rent","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/162984\/","title":{"rendered":"1 in 10 Jacksonville homes are built strictly to rent"},"content":{"rendered":"

What looks like a typical neighborhood in Jacksonville, with rows of new single-family homes that have driveways and manicured lawns, might not be\u00a0for sale\u00a0at all.<\/p>\n

From 2022 to 2024, more than 1 out of every 10 single-family homes built in Duval County was constructed specifically to rent<\/a>, according to a News4Jax analysis of county property records.<\/p>\n

Since 2019, the number of build-to-rent homes in the area has grown by roughly 600%, according to\u00a0data from Point2Homes<\/a>.<\/p>\n

By mapping tax records and city building data, News4Jax found more than 3,000 single-family homes across Duval County that were developed exclusively as rental properties<\/a>, often clustered in newly built neighborhoods owned by large investors.<\/p>\n

Kyle Passkiewicz, owner of Yellowbird Realty, a local real estate investment company, said the concept marks a major shift from how single-family homes were owned in the past.<\/p>\n

\u201cBefore the Great Financial Crisis, there was no really institutional ownership at all,\u201d Passkiewicz said. \u201cOver the last 15 years, these institutions \u2026 have kind of figured out we can manage properties in bulk and manage them all over the country, single-family, whether it\u2019s scattered site or neighborhoods like we see here.\u201d<\/p>\n

He said demand for housing, combined with higher mortgage rates, property taxes and insurance costs, has made renting a single-family home more appealing and, in many cases, more affordable than buying<\/a>.<\/p>\n

Rent affordability<\/p>\n

The rise of build-to-rent communities has sparked debate over affordability and access to homeownership.<\/p>\n

Ken Johnson, chair of real estate and professor of finance at the University of Mississippi, said many people assume build-to-rent homes make affordability worse, but he argues the opposite can be true.<\/p>\n

\u201cI think most people think of (build to rent) as a negative in terms of affordability, but in fact they\u2019re the opposite,\u201d Johnson said. \u201cThey help relieve demand for the more traditional rental unit.\u201d<\/p>\n

When News4Jax compared rental rates, build-to-rent homes in many areas of Jacksonville rented for less per square foot than nearby apartments.<\/p>\n

Johnson described the trend as \u201cthe American dream reimagined.\u201d<\/p>\n

\u201cI think what it\u2019s indicating is that more and more what we think of as the American dream of homeownership isn\u2019t exactly what we always see,\u201d he said. \u201cIt\u2019s not the only path or necessarily even the best path to wealth creation.\u201d<\/p>\n

Johnson said if families rent for a decade and consistently invest the money they would have spent on a down payment and higher monthly housing costs, they could potentially build as much wealth as homeowners who rely on equity gains.<\/p>\n

\u201cAs long as they are making that reinvestment,\u201d he said. \u201cIf they fail to do that and spend this money on beer and cookies, then it\u2019s wealth-destroying.\u201d<\/p>\n

Fewer homes to buy<\/p>\n

Still, even supporters acknowledge trade-offs.<\/p>\n

Passkiewicz said build-to-rent neighborhoods do limit the number of homes available for purchase.<\/p>\n

\u201cThey definitely take away the opportunity for people to buy homes,\u201d he said. \u201cA lot of that just has to do with economics and the time cycles we\u2019re in with interest rates and full overall cost.\u201d<\/p>\n

Whether the long-term effects will be positive remains uncertain, he said.<\/p>\n

\u201cIt is reshaping where we live and who owns America.\u201d<\/p>\n

As Jacksonville continues to grow, the question remains whether build-to-rent communities are a temporary response to high interest rates and home costs or a permanent shift in how the next generation is building wealth.<\/p>\n

This story was published as part of the\u00a0Northeast Florida News Collaborative<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"What looks like a typical neighborhood in Jacksonville, with rows of new single-family homes that have driveways and…\n","protected":false},"author":2,"featured_media":162985,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[116,118,117],"class_list":["post-162984","post","type-post","status-publish","format-standard","has-post-thumbnail","category-jacksonville","tag-jacksonville","tag-jacksonville-headlines","tag-jacksonville-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/162984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=162984"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/162984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/162985"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=162984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=162984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=162984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}