KEY INSIGHTS

• There is no single definition for single-family rental housing; the term is now used to refer to a range of suburban rental-housing options: from collections of scattered single-family parcels to low-density rental communities with on-site management and maintenance.
• Demographic trends, declining homeownership affordability and the increased adoption of flexible working arrangements will continue to support strong demand for suburban residential during the next decade.
• The dearth of suburban residential construction in the past decade, particularly for single-family residential. means national supply-side risks remain low for now.
• Major risks to the outlook are local supply constraints and construction trends, operating and capital expenditure uncertainties, regulatory environment shifts, and macroeconomic impacts on house prices.