AMH Delivers 10,000th Built Home, Expanding High-Quality Housing Options in the U.S.

Rhea-AI Summary

AMH (NYSE: AMH) has delivered its 10,000th newly-built rental home, reinforcing its position as a major player in the U.S. single-family rental market. Recognized as the 39th largest homebuilder on Builder Magazine's 2024 Builder 100 List, AMH has significantly climbed the rankings since its development program inception in 2017. The company has completed 2,317 homes in 2023 and currently manages over 170 rental communities across the nation. With a land pipeline exceeding 10,000 lots, AMH aims to deliver between 2,200 and 2,400 additional homes by the year-end. The company addresses the growing demand for quality rental homes, providing essential housing options with premium features and amenities.

Positive

• AMH delivered its 10,000th new home, reinforcing its market presence.
• Ranked 39th on Builder Magazine's 2024 Builder 100 List.
• Completed 2,317 homes in 2023.
• Manages over 170 single-family rental communities nationwide.
• Land pipeline exceeds 10,000 lots at various stages of development.
• On pace to deliver between 2,200 and 2,400 additional homes by year-end.

Negative

• None.

Company Once Again Recognized as 39th Largest National Homebuilder on 2024 Builder 100 List

LAS VEGAS, July 10, 2024  /PRNewswire/ -- AMH (NYSE: AMH), a leading large-scale integrated owner, operator and developer of single-family rental homes, announces its 10,000th new home delivery and recognition by Builder Magazine as the 39th largest homebuilder in the United States on its 2024 Builder 100 List. This milestone reaffirms the company's commitment to creating new attainable housing at scale at a time of critical supply shortages in the U.S.

AMH launched its development program in 2017 in response to rising demand for high-quality single-family rental homes in sought-after locations. By 2021, the company had debuted on the Builder 100 List as the 45th largest homebuilder in the U.S. and the highest-ranked builder solely focused on single-family rental homes.

Since its debut, AMH has climbed the Builder 100 List and notched the 39th spot for its completion of 2,317 homes in 2023. To date, the company has built and currently manages over 170 single-family rental communities comprised of more than 10,000 homes across leading markets nationwide.

Looking forward, AMH has built a land pipeline exceeding 10,000 lots at various stages of development, from raw land to fully entitled for vertical construction. The company recently reported that it is on pace to deliver between 2,200 and 2,400 additional homes by the end of the year.

"AMH is focused on building quality rental homes and scalable communities across the country that add single-family housing supply in high-demand regions that need this product most," said AMH Chief Executive Officer David Singelyn. "As we look ahead to the delivery of our next 10,000 homes, we remain committed to positively contributing to the national housing landscape and the economic development of markets across the U.S."

AMH Chief Operating Officer and incoming Chief Executive Officer Bryan Smith added: "We're witnessing a surge in demand that traditional housing options have yet to fully address. Our communities accommodate households looking for quality homes with outdoor space and best-in-class amenities, supported by the professionally managed living experience AMH is known for. This provides an essential housing option that bridges the gap to homeownership for many families, especially in light of today's barriers to entry. With an aging millennial population, this purpose-built product aligns with our goal of growing with our renters and their needs across all stages of life."

John Burns Research and Consulting's recently released inaugural Build-to-Rent Tenant Survey revealed insights from this emerging consumer group, highlighting their increased demand for amenities and professional management when seeking single-family rental homes. The survey of 6,074 renters found that 55% of these residents anticipate remaining in their homes for two to three years. Consistent with longstanding national ownership figures, 63% of these renters have homeownership aspirations, with approximately 50% indicating they're awaiting a decline in home prices or mortgage rates before they consider purchasing.

"Research indicates that a majority of today's renters prioritize space and amenities, seeking higher bedroom counts, garages, and home offices in addition to traditional amenities such as pools and fitness centers," stated Brent Landry, Executive Vice President of Development at AMH. "By internalizing our development capabilities, we've maintained the agility to adapt our homes and communities to evolving rental preferences. At AMH, we design homes with durability and longevity in mind, as we intend to own and operate these communities long-term. Combined with insights gleaned from consumer research, this allows us to consistently deliver a highly desirable and efficient product."

AMH-built homes include premium finishes and popular features such as fenced yards, pocket offices, granite or quartz countertops, stainless steel appliances, luxury vinyl plank flooring, two- and three-car garages, and lawn care services. The company also incorporates state-of-the-art amenities such as pools, fitness centers, yoga rooms, playgrounds, nature trails, and clubhouses at many of its new developments to promote a sense of community and provide a lifestyle of greater comfort and convenience.

The 2024 Builder 100 list can be viewed here.

About AMH

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.

In recent years, we've been named one of Fortune's 2023 Best Workplaces in Real Estate™, a 2024 Great Place to Work®, a 2023 Most Loved Workplace®, a 2024 Top U.S. Homebuilder by Builder100, and one of America's Most Responsible Companies 2024 and Most Trustworthy Companies in America 2024 by Newsweek and Statista Inc. As of March 31, 2024, we owned nearly 60,000 single-family properties in the Southeast, Midwest, Southwest and Mountain West regions of the United States. Additional information about AMH is available on our website at www.amh.com.

AMH refers to one or more of American Homes 4 Rent, American Homes 4 Rent, L.P. and their subsidiaries and joint ventures. In certain states, we operate under AMH Living or American Homes 4 Rent. Please see www.amh.com/dba to learn more.

AMH Contacts:

Media Relations
Phone: (855) 774-4663
Email: media@amh.com

Nicholas Fromm
Investor Relations
Phone: (855) 794-2447
Email: investors@amh.com

 

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SOURCE AMH

FAQ

What milestone did AMH achieve as announced in the press release?

AMH delivered its 10,000th newly-built rental home.

What is AMH's ranking on the 2024 Builder 100 List?

AMH is ranked as the 39th largest homebuilder on the 2024 Builder 100 List.

How many homes did AMH complete in 2023?

AMH completed 2,317 homes in 2023.

How many single-family rental communities does AMH manage?

AMH manages over 170 single-family rental communities nationwide.

What is the status of AMH's land pipeline?

AMH's land pipeline exceeds 10,000 lots at various stages of development.

How many additional homes is AMH expected to deliver by the end of the year?

AMH is on pace to deliver between 2,200 and 2,400 additional homes by the end of the year.