The United States as a whole has been short on supply of housing, especially rental housing, since the early 1980s, and some would argue even before then. The pandemic has only served to exacerbate this imbalance. The supply of housing is struggling to keep up with pre-pandemic demand, and migration from northern states to the Sunbelt States is continuing to exponentially increase demand for housing. The pandemic's disruption of the supply chain only made these constraints worse. To put the current situation into perspective, consider this fact. It’s estimated that the US needs to build an average of 328,000 new apartments every year by 2030 to keep up with demand. We’ve only hit that mark three times since 1989. It is no longer a matter of if we need housing. It is a matter of where housing will provide the most utility. The real estate principle of “location, location, location” still rings true. Home affordability in the United States is not a reality for most Americans. When the current home affordability data is taken into context with the current migratory patterns of the US, it becomes readily apparent that the Sunbelt states, such as Florida, Texas, Arizona, and the Carolinas, are ripe for build-to-rent and multifamily developments. The “missing middle” remains missing for the working class. The working class is wholly underserved, and they comprise the majority of the population, which is one of the major driving forces behind the build-to-rent phenomenon the United States is currently experiencing. The macrotrends indicate there are major tailwinds behind multifamily and build-to-rent housing in the Sunbelt region.