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  • Alex Pettee, CFA

Single-Family Rentals: PropTech Revolution

  • The positive reverberations from the post-pandemic "housing boom" are now being felt across U.S. rental markets as single-family housing rents are suddenly soaring at the fastest rate on record.

  • Riding the rental revival, Single-Family Rental REITs are the single-best performing property sector since the end of 2019, gaining another 25% this year following strong earnings results and recent updates.

  • Mirroring the surge in suburban home values amid a historic housing shortage, SFR REITs have reported double-digit rent growth in recent months while occupancy rates continue to set record highs.

  • Quieting the critics that questioned their ability to operate efficiently, SFR REITs have been leaders in using Property Technology (PropTech) to reduce costs, increase renter satisfaction, and fuel accretive growth.

  • Short on Supply, High on Demand. While the fast-growing SFR REITs appear pricey compared to other REIT sectors, valuations remain compelling compared to other PropTech disruptors in the housing ecosystem.

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Disclosure: A complete list of holdings and Real Estate and Housing Index definitions and holdings are available at HoyaCapital.com. Hoya Capital Real Estate advises an Exchange Traded Fund listed on the NYSE. Hoya Capital is long all components in the Hoya Capital Housing 100 Index.

Additional Disclosure: It is not possible to invest directly in an index. Index performance cited in this commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Data quoted represents past performance, which is no guarantee of future results. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy.

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Hoya Capital Research & Index Innovations is an affiliated index provider and research firm that builds custom indexes tracking U.S. commercial and residential real estate sectors, including indexes tracked by exchange-traded funds (ETFs). 

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