An Austin company is building 248 rental homes on San Antonio’s far West Side, adding to a segment of the housing market that has expanded as many struggle to afford buying houses amid rising interest rates and prices while others gravitate toward the flexibility of renting and eliminating the maintenance and repairs that come with owning a home.
Building to rent — Chunks of new San Antonio neighborhoods going directly to investors as rentals “Urban Moment is excited to bring YardHomes to San Antonio,” Jim Campbell, founder and chairman of Urban Moment, said in a statement. “We’re redefining the apartment experience and introducing a new approach to residential housing.
Inflation, rising mortgage rates: Bad for homebuyers, good for single-family rental home investors The company shifted to building custom homes in Tucson in 2010 and to developing multifamily projects in 2016. It moved operations to Austin and began building its first rental home project under the YardHomes brand in 2019. It is working on communities in Texas in Spring, Garland, Pflugerville, Hutto, Leander, Denton and Round Rock.