Sun Belt Investment Markets
High-Growth Sun Belt Rental Housing Markets
The StarRock Homes Evergreen Rental Housing Fund targets single-family and multifamily rental communities across high-growth Sun Belt markets selected for their durable population growth, expanding employment bases and persistent housing demand. These markets have benefited from sustained domestic migration patterns as households and employers relocate from higher-cost coastal regions toward states offering a lower cost of living, business-friendly policy environments and a comparatively affordable housing stock.
Sun Belt demographics remain a structural tailwind for residential rental investment. The region continues to capture a disproportionate share of national population and job growth, supported by in-migration, a growing working-age population and expanding employment in sectors such as healthcare, logistics, advanced manufacturing and professional services. This demand environment supports occupancy, rent growth and the long-term income generation that underpins the fund's capital-preservation orientation.
StarRock's acquisition framework emphasizes markets where the underlying economics support current Net Operating Income rather than speculative appreciation. Target acquisitions are underwritten to stabilized NOI, Debt Service Coverage Ratio and total limited-partner return, with prudent target permanent leverage of 50–65% loan-to-value after stabilization. By focusing on cash-flowing assets in fundamentally strong markets, the fund is designed to perform across market cycles while capturing incremental upside from rent growth, market appreciation and refinancing activity.
The markets below illustrate the types of high-growth Sun Belt communities the fund evaluates. Each is assessed for population and job growth trends, housing affordability, rental demand and the availability of institutional-quality single-family and multifamily rental communities that meet the fund's underwriting standards.
Target Market Profiles
Dallas–Fort Worth, Texas
Dallas–Fort Worth consistently ranks among the nation's leaders in both population and job growth, supported by a diversified economy, corporate relocations and a pro-business environment. The metro's expanding employment base and affordable housing stock create favorable conditions for single-family and multifamily rental investment.
Pop. Growth
1.5%
Job Growth
2.8%
Med. Home
$395k
Charlotte, North Carolina
Charlotte is a fast-growing Southeast financial and professional services hub with strong in-migration and a growing working-age population. Its housing affordability relative to coastal markets and expanding employment base support durable rental demand and rent growth across target communities.
Pop. Growth
1.3%
Job Growth
2.4%
Med. Home
$365k
Atlanta, Georgia
Atlanta is a Southeast hub with diversified employment, a deep logistics corridor and consistent corporate relocations. Its growing population and relatively affordable cost of living support long-term rental demand across both single-family and multifamily segments, making it a core target for cash-flowing acquisitions.
Pop. Growth
1.3%
Job Growth
2.1%
Med. Home
$375k
Phoenix, Arizona
Phoenix continues to be among the fastest-growing major U.S. metros, driven by in-migration from high-cost coastal markets, a diversified employment base spanning healthcare, advanced manufacturing and logistics, and a comparatively affordable housing stock. Sustained population and job growth support durable rental demand across single-family and multifamily communities.
Pop. Growth
1.4%
Job Growth
2.6%
Med. Home
$450k
Tampa, Florida
Tampa benefits from strong domestic in-migration, a business-friendly policy environment and expanding employment in healthcare, financial services and technology. The market's growing working-age population and persistent housing demand underpin stable occupancy and rent growth for institutional-quality rental communities.
Pop. Growth
1.2%
Job Growth
2.3%
Med. Home
$385k
