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As of 2017, the company was reportedly the largest owner of single-family rental homes in the United States. [2] As of December 2022, the company owned about 83,000 rental homes in 16 markets. [3] The Wall Street Journal described Invitation Homes as competing "at the high end of the rental market". Tenants are typically in their late-30s with ...
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The report's key figure, the "Housing Wage," reveals the hourly earnings necessary for full-time workers to afford fair market rental homes without exceeding 30% of their incomes. Nationally, the 2023 Housing Wage is $28.58 per hour for a modest two-bedroom home and $23.67 per hour for a one-bedroom home.
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The company broke ground on Summerwell Sunterra, a build-to-rent community in the Houston area, in June 2023. [34] As of September 2023, Greystar has acquired or developed 12 communities under its Summerwell brand focused on single-family rentals. [35]
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