![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2021\/06\/single-family-home-rentals.jpg\")
<\/a>Photo: James Bombales<\/em><\/p>\nThe demand for single-family rentals is surging as a result of record-high home prices and Millennial household formation. Saddled with student debt and entering their child-rearing years, many Millennials simply can\u2019t afford to own a home but crave the additional living space that often comes with a detached home.\u00a0<\/span><\/p>\n Direct-to-investor real estate investment platform <\/span>Fundrise<\/span><\/a> announced last week that they had closed a $300 million credit facility with Goldman Sachs to bankroll the construction of nearly half a billion dollars worth of new single-family rentals across the Sunbelt.\u00a0<\/span><\/p>\n These new communities would be investor-owned as Fundrise is a collective of 150,000 individuals who have invested over $1 billion to acquire more than 300 properties. The online platform allows users to invest as little as $500 to build a portfolio and tap into the once-exclusive private real estate market.<\/p>\n \u201cThanks to our technology, investors on Fundrise are able to reap the benefits of some of the most sought-after institutional investments in the world,\u201d said Fundrise Co-Founder and CEO Ben Miller.<\/p>\n \u201cAs Fundrise continues to grow into one of the largest real estate investment platforms in the world, securing financing from high-quality financial institutions globally will allow us to continue to provide our investors with the highest quality investments possible.\u201d<\/p>\n Fundrise currently owns both residential and commercial properties including single-family and multi-family rentals, for-sale housing, hotels, retail space and office buildings. Having identified a lack of inventory in the single-family rental market, the startup has partnered with six of the country\u2019s largest homebuilders to ramp up supply and meet the growing demand.<\/p>\n In December, Fundrise placed a winning $32.3 million bid to acquire Amber Pines at Fosters Ridge, a 124-unit single-family rental community built by <\/span>D.R. Horton<\/span><\/a> in Conroe, Texas. Located about 40 miles outside of Houston, the development offers many of the same perks as a for-sale community like onsite amenities, attached garages and private backyards.<\/span><\/p>\n