Why Build-to-Rent Homes Are Growing in the Inland Empire

Last Updated on April 2, 2026 by The HD Post Staff

CALIFORNIA — A growing number of new homes in the Inland Empire are no longer being built for sale.

Instead, they’re being developed as rentals — part of a fast-rising trend reshaping how housing is delivered across Southern California.

Investment firms and homebuilders are increasingly turning to build-to-rent (BTR) communities. These are entire neighborhoods of single-family homes constructed and held as long-term rentals rather than sold to individual buyers.

One major player, Tricon Residential – owned by Blackstone, has established a cluster of these communities in Riverside County, including projects in Corona, Menifee and Wildomar.

Tricon’s Winchester community opened in March. It includes 180 rental homes, with rents starting in the low $3,000s.

A shift in how homes are delivered

Tricon says its model is designed to serve middle-income households who may “face difficulties buying a home.”

The typical California home is worth about $775,000, with down payments ranging from roughly $25,000 at the low end to more than $155,000 for buyers putting 20% down.

As affordability challenges persist, newer financing options are emerging.

Coinbase and Better have announced a partnership aimed at expanding the use of cryptocurrency holdings in the mortgage process.

Meanwhile, some buyers are exploring assumable mortgages — FHA and VA loans, which allow them to take over existing low-interest loans.

Even so, many households remain priced out.

Tricon is not alone in expanding build-to-rent housing. Invitation Homes announced nearly 20 build-to-rent (BTR) communities that are now open and leasing properties in California, the Carolinas, Georgia, Tennessee, Florida, Texas, and Arizona.

In Southern California, the Inland Empire has emerged as a focal point for this trend.

Developers are targeting the region in part due to lower land costs compared to coastal counties and continued population growth.

The area is also drawing strong demand from renters priced out of Los Angeles and Orange County.

Critics raise concerns about corporate landlords

Supporters say build-to-rent housing can help increase supply and provide housing options for those unable to buy.

The trend has also drawn political scrutiny.

California officials, including Gov. Gavin Newsom, have raised concerns about large investors buying and holding housing, arguing it can make it harder for residents to purchase homes.

Critics say institutional ownership may reduce available inventory for buyers. It may also push prices higher.

Correction: An earlier version of this article misstated the typical California home value. It has been updated to $775,000.