Based on current trends, the single-family rental market will likely be undersupplied over the next 10 years, despite the increased attention the segment is currently receiving. Of course, that could change if the number of units being produced increases dramatically, or if the COVID-19 recession leads to more substantial foreclosures pushing more units into rental inventory, but that is not the trend to date. Currently, approximately 6 percent of new single-family homes are purpose-built for-rent, which would result in around 700,000 new units over the next 10 years. Given demographic trends, the demand is expected to be much greater than the current pace of production, which could result in a significant supply shortfall, suggesting the sector presents a strong investment opportunity in the coming decade.