2025 Top Developers List

2025 Rankings

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Developer Rank 2025	Developer Rank 2024	Company Name	Units Started 2024	Units Started 2023	CEO	HQ City	HQ State
1	1	Greystar	8247	9562	Bob Faith	Charleston	SC
Historical Data Regions of Operation CEO Bob Faith Company Website www.greystar.com Other Lists Top Manager 2025 Top Owner 2025 Top Builder 2025 Housing Units Breakdown BTR units 841 Subsidized units 798
2	15	Dominium	5763	3054	Paul Sween	Dallas	TX
Historical Data Regions of Operation CEO Paul Sween Company Website www.dominiuminc.com Other Lists Top Manager 2025 Top Owner 2025 Top Builder 2025 Housing Units Breakdown BTR units 215 Subsidized units 5763
3	4	Wood Partners	5480	5137	Joseph Keough	Atlanta	GA
Historical Data Regions of Operation CEO Joseph Keough Company Website www.woodpartners.com Other Lists Top Builder 2025
4	5	Hillpointe	4720	4825	Steven Campisi and Kelly Mahoney	Winter Park	FL
Historical Data Regions of Operation CEO Steven Campisi and Kelly Mahoney Company Website www.hillpointe.com Other Lists Top Builder 2025
5	10	D.R. Horton Inc.*	4590	3433	Paul Romanowski	Arlington	TX
Historical Data Regions of Operation CEO Paul Romanowski Company Website www.drhorton.com Housing Units Breakdown BTR units 1,827
6	2	Mill Creek Residential	4312	8022	William C MacDonald	Boca Raton	FL
Historical Data Regions of Operation CEO William C MacDonald Company Website www.millcreekplaces.com Other Lists Top Owner 2025 Top Builder 2025 Housing Units Breakdown BTR units 373
7	11	The Garrett Companies	4161	3835	Eric Garrett	Greenwood	IN
Historical Data Regions of Operation CEO Eric Garrett Company Website www.thegarrettco.com Other Lists Top Builder 2025
8	6	Alliance Residential	3839	4628	Jay Hiemenz	Scottsdale	AZ
Historical Data Regions of Operation CEO Jay Hiemenz Company Website www.allresco.com Other Lists Top Owner 2025 Top Builder 2025
9		Continental Properties Company Inc.	3517	1168	James Schloemer	Menomonee Falls	WI
Historical Data Regions of Operation CEO James Schloemer Company Website www.cproperties.com
10	22	Northwood Ravin	3468	2561	David Ravin	Charlotte	NC
Historical Data Regions of Operation CEO David Ravin Company Website www.nwrliving.com Other Lists Top Builder 2025 Housing Units Breakdown BTR units 384
11	14	The NRP Group	3310	3112	J. David Heller	Cleveland	OH
Historical Data Regions of Operation CEO J. David Heller Company Website www.nrpgroup.com Other Lists Top Owner 2025 Top Builder 2025 Housing Units Breakdown Subsidized units 1948
12	8	Core Spaces	3297	4030	Marc Lifshin	Chicago	IL
Historical Data Regions of Operation CEO Marc Lifshin Company Website www.corespaces.com Housing Units Breakdown BTR units 1705
13	3	Trammell Crow Residential	3240	5823	Ken Valach	Dallas	TX
Historical Data Regions of Operation CEO Ken Valach Company Website www.crowholdings.com/trammell-crow-residential Other Lists Top Builder 2025 Housing Units Breakdown Subsidized units 78
14		AvalonBay Communities Inc.	2921	2040	Benjamin Schall	Arlington	VA
Historical Data Regions of Operation CEO Benjamin Schall Company Website www.avaloncommunities.com Other Lists Top Manager 2025 Top Owner 2025 Top Builder 2025 Housing Units Breakdown BTR units 186 Subsidized units 83
15	13	Thompson Thrift	2659	3261	Paul Thrift & John Thompson	Indianapolis	IN
Historical Data Regions of Operation CEO Paul Thrift & John Thompson Company Website www.thompsonthrift.com Other Lists Top Builder 2025
16		Crescent Communities	2388	834	Brian Natwick	Charlotte	NC
Historical Data Regions of Operation CEO Brian Natwick Company Website www.crescentcommunities.com Housing Units Breakdown BTR units 574
17	9	Hines	2290	4329	Jeff Hines and Laura Hines-Pierce	Houston	TX
Historical Data Regions of Operation CEO Jeff Hines and Laura Hines-Pierce Company Website www.hines.com
18	23	JPI	2097	2436	Payton Mayes	Dallas	TX
Historical Data Regions of Operation CEO Payton Mayes Company Website www.jpi.com Other Lists Top Builder 2025 Housing Units Breakdown Subsidized units 443
19		Landmark Properties	1891	1163	J. Wesley Rogers	Athens	GA
Historical Data Regions of Operation CEO J. Wesley Rogers Company Website www.landmarkproperties.com Other Lists Top Builder 2025 Housing Units Breakdown BTR units 813
20	12	Roers Companies	1883	3291	Brian Roers and Kent Roers	Plymouth	MN
Historical Data Regions of Operation CEO Brian Roers and Kent Roers Company Website www.roerscompanies.com Other Lists Top Builder 2025 Housing Units Breakdown Subsidized units 1282
21	16	Woodfield Development	1797	2885	Greg Bonifield	Charleston	SC
Historical Data Regions of Operation CEO Greg Bonifield Company Website www.woodfielddevelopment.net Housing Units Breakdown BTR units 12 Subsidized units 50
22		Quarterra (a Lennar company)	1628	955	Brad Greiwe	Charlotte	NC
Historical Data Regions of Operation CEO Brad Greiwe Company Website www.quarterra.com
23		TWG Development LLC	1612	1088	Louis A. Knoble	Indianapolis	IN
Historical Data Regions of Operation CEO Louis A. Knoble Company Website www.twgdev.com Housing Units Breakdown Subsidized units 1214
24		The Dinerstein Companies	1588	1400	Brian Dinerstein	houston	TX
Historical Data Regions of Operation CEO Brian Dinerstein Company Website www.dinersteincos.com Housing Units Breakdown BTR units 250
25		The Annex Group	1517	562	Kyle Bach	Indianapolis	IN
Historical Data Regions of Operation CEO Kyle Bach Company Website www.theannexgrp.com Housing Units Breakdown Subsidized units 1274

*Not a member of NMHC as of Jan. 31, 2025.

Who is a Developer?

A Developer is the firm responsible for the entire process related to the development of a new multifamily (defined as five or more units) rental community (including independent living and age-restricted housing). The developer controls everything from preliminary planning to obtaining financing to preparing the community for delivery to the market, and typically is responsible for selection of the builder. Units are started for the developer's own account, and upon completion of units, the developer will be the owner of the units. This includes developers who may sell their property after the units have been leased.

Historical Data

Historical data for each company reflects only years the company previously qualified for the NMHC 50 lists.

View all definitions and the methodology behind NMHC 50 lists.

NMHC Top 25 Developers

Greystar

Historical Data

Regions of Operation

CEO

Company Website

Other Lists

Housing Units Breakdown

Dominium

Historical Data

Regions of Operation

CEO

Company Website

Other Lists

Housing Units Breakdown

Wood Partners

Historical Data

Regions of Operation

CEO

Company Website

Other Lists

Hillpointe

Historical Data

Regions of Operation

CEO

Company Website

Other Lists

D.R. Horton Inc.*

Historical Data

Regions of Operation

CEO

Company Website

Housing Units Breakdown

Mill Creek Residential

Historical Data

Regions of Operation

CEO

Company Website

Other Lists

Housing Units Breakdown

The Garrett Companies

Historical Data

Regions of Operation

CEO

Company Website

Other Lists

Alliance Residential

Historical Data

Regions of Operation

CEO

Company Website

Other Lists

Continental Properties Company Inc.

Historical Data

Regions of Operation

CEO

Company Website

Northwood Ravin

Historical Data

Regions of Operation

CEO

Company Website

Other Lists

Housing Units Breakdown

The NRP Group

Historical Data

Regions of Operation

CEO

Company Website

Other Lists

Housing Units Breakdown

Core Spaces

Historical Data

Regions of Operation

CEO

Company Website

Housing Units Breakdown

Trammell Crow Residential

Historical Data

Regions of Operation