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21st Century Road to Housing Act limits SFR ownership, boosts build-to-rent
The law caps large institutional ownership of single-family homes at 350, while carving out rentals built specifically for that purpose.
A new federal housing law is set to redirect institutional capital toward build-to-rent, after the 21st Century Road to Housing Act became law on Saturday without President Donald Trump’s backing, according to Bisnow. One of the bill’s key provisions largely prohibits large institutional investors from owning more than 350 single-family homes, but it includes an exception for homes built specifically as rentals. Housing analysts cited by Bisnow said the carve-out creates a clearer pathway for investors to maintain exposure to single-family rental demand through the build-to-rent model. The expected shift could be most pronounced in Atlanta. Bisnow reports that institutional investors control nearly 30% of the city’s single-family rental homes, and Yardi Matrix data show more than 100,000 build-to-rent homes were under development in the U.S. last year, including more than 6,800 in Metro Atlanta, where development pace doubled from a year earlier. Housing executives told Bisnow they had paused plans earlier this year when the Senate passed a version of the bill with restrictions on BTR operators. Richard Ross, CEO of Quinn Residences, said the company is planning a pipeline of 1,500 homes over the next 12 months, including 500 in Georgia, after the measure’s passage chilled the industry and developers now prepare to resume activity.