2024’s Top Real Estate Development Companies in the US

The entire US real estate market is worth just around 3 trillion dollars, with projections that it will be close to 4 trillion by 2030. A good part of those projections includes newly developed or in-development real estate, providing great opportunities for both domestic and foreign investment in US properties. 

Real estate development projects can bring in high returns mainly because a lot of properties appreciate after development. But, for that to happen, a project must be completed first. And that’s exactly where the main problem with investing in real estate development is — how do you know a project will actually be finished? How do you know who to trust with your money? 

There’s only one way, really, to figure that out, and that’s to check the track records of real estate development companies. Use the numbers and results from the past to inform the future, so to speak. 

Companies that have been in the business for a long time or have otherwise proven reliable partners are always more likely to finish the projects they start and make money for investors. Larger companies with more projects or years of experience behind them are a much safer bet for investors than the smaller ones. 

That’s why we’ve created a list of the largest real estate developers in the US — to help you choose a real estate development company based on their past records and numbers and not on blind trust. But, before we go into it, let’s first review some of the reasons why investing in real estate development projects can be beneficial.

The Benefits of Investing in Property Development Projects

Investing in real estate development projects comes with a lot of benefits, not least of which is the potential for high returns. The idea is pretty simple: if you get in on the ground floor (in this case, quite possibly literally), you can buy yourself a piece of real estate for a discounted price. Once the project is done, you’ll become the owner of a physical asset that’s worth more than you’ve paid for it, giving you a couple of options: 

• Sell it for an immediate return (usually around 15% to 25%)
• Keep it to generate value through appreciation (averages around 100% for every 20 years)
• Rent it to generate a passive income (usually around 6% to 12% return per year) while also generating value through appreciation (combined, more than 220% return in 20 years)

Now, realistically, every option is good, and which one you choose will depend on your investment goals. But, before you get to pick the option you like the most, the real estate development project needs to be completed. And this brings us back to the main reason behind this article — to share with you a list of the top real estate development companies in the US. The companies we’ll mention have the best track records and are the most reliable in their industry. 

Top 15 Real Estate Development Companies in the US for 2024

Welcome to our list of the top largest real estate developers in the US! Before we proceed, let’s briefly discuss why investing in real estate development is a good idea and the metrics we used for our rankings. 

We’ve used unit started as our primary metric to create the list of top real estate development companies in the US. Unit starts are the number of new construction projects property development companies begin during a specific period. The data we’ve primarily relied on comes from the National Multifamily Housing Council, a leading source of information about the largest real estate development companies in the US. 

And yes, one more thing: if you like lists, be sure to check our article about top mortgage brokers in the US.

Now, with that out of the way, let’s start!

1. Greystar 

Greystar, a company that began operating in 1993, is the first on our list of top real estate developers. Its founder and CEO, Bob Faith, set out to become a leader in the rental housing industry by doing one “simple” thing—providing top-notch services to residents, owners, and investors. 

Their people-centric approach and decades of successful projects separate them from many other property development companies and put them at the top of our list. The company is headquartered in Charleston, South Carolina, and along with development and construction, provides property and investment management services. Greystar 50 offices and is present in 171 markets across the US. 

2. Mill Creek Residential 

Mill Creek Residential was founded in 2011 by executives with decades of industry experience. The company specializes in developing, constructing, acquiring, and operating first-rate rental communities across the US. With 17,8 billion dollars in deployed capital and a development team responsible for building over 275,000 rental units, it’s easy to put this company in second place in our list of top real estate development companies. Headquartered in Boca Raton, Florida, their portfolio includes residential properties across the entire US, including those located in Oregon, California, Texas, and Florida.  

3. Trammell Crow Residential

With over 40 years of development experience, Trammell Crow Residential is responsible for building more than 260,000 residential housing units. Headquartered in Dallas, Texas, the company’s culture of quality and operational excellence allows TCR to create exceptional communities across the United States. The most prominent of them are in Virginia, Texas, Washington State, and Florida. Because of that, and much more, they are deservedly our number 3 pick for top real estate development companies. 

4. Wood Partners

Founded in 1998 by Leonard Wood, Wood Partners is a company that excels at building multi-family homes. Headquartered in Atlanta, Georgia, the company has many offices across the US and prides itself on creating unique communities and providing residents with a better way of living. They have properties across the US, including in Texas, Florida, Arizona, and California, among others. With over two decades in the business and a portfolio that speaks for itself, Wood Partners has earned the number 4 spot on our list of largest real estate developers in the US.

5. Hillpointe LLC

Hillpointe LLC is a real estate development and investment management company focused on building affordable housing. It was founded in 2018 and has its headquarters in Winter Park, Florida. Since its inception, the company has significantly and positively impacted the US housing industry. They’ve developed affordable properties in various US states, including Florida, Georgia, and South Carolina.

Led by Kelly Mahoney and Steven Campisi, this relatively new company has a lot going for it. Their use of a vertically integrated platform to asses risk and generate significant returns is just one of the things that has led us to put them at number 5 on our list of best property development companies.

6. Alliance Residential

Alliance Residential was founded in 2000 and has built a fantastic portfolio. The company has developed or acquired more than 115,000 units (housing and commercial) worth over 23 billion dollars. Their initial focus was on luxury multifamily rentals, but they have expanded to building and acquiring attainable workforce and senior living housing over the years. The company’s headquarters are in Scottsdale, Arizona. They have 19 regional offices focusing on various residential communities and metropolitan markets, including those in Colorado, Florida, and Texas.

And, with over 40 years of industry experience, Alliance Residental rightly deserved its place on our list of biggest real estate developers in US.

7. The Michaels Organization

The Michaels Organization started as a four-man operation all the way back in 1973. Founded by Michael J. Levitt, it has grown into a powerhouse of the residential real estate industry. Their headquarters are in Camden, New Jersey. Their portfolio includes over 58,000 developed housing units, over 80,000 properties under management, and a developmental pipeline worth over 5 billion dollars, just to name a few. They operate in various US states, including Louisiana, Colorado, and California.

The company aims to bring housing solutions to improve various community segments (e.g., education and general prosperity). That is precisely what separates them from the pack and is one of the reasons why they made it to our list of the largest real estate development companies in the US.

8. Core Spaces 

Founded in 2010 by Marc Lifshin, Barry Howard, and Brian Neiswender, Core Spaces has quickly become one of the largest real estate development companies in the US. They focus on developing, buying, and managing student and build-to-rent housing properties. Their headquarters are in Chicago, Illinois. 

The residential houses they build are known for their top-notch amenities and innovative design, and their community-driven teams excel at world-class client service. They’ve developed great communities in various US states, including Florida, Texas, Georgia, Arizona, and more. That and much more is why Core Spaces are one of the top real estate developers in the US and why they’ve made it on our list.

9. Hines

Gerald D. Hines founded the company in 1957, and it has since grown into one of the largest real estate developers in the US. From its inception, Hines was focused on developing more prosperous cities and sustainable living environments. The company employs over 5,000 people, is headquartered in Houston, Texas, and owns and operates over 93 billion dollars worth of real estate assets in 31 countries. In the US, they have properties in various states, including Illinois, Georgia, Nevada, Texas, and California, among others. Their rigorously high standards helped it set a global norm for integrity, service quality, and the creation of value.

10. D.R. Horton, Inc.

D.R. Horton was founded in 1978 in Fort Worth and is now headquartered in Arlington, Texas. Over the years, the company has grown into one of the largest property development companies in the US. Since 2002, they have been the biggest developer by volume and have ranked 194 on the Fortune 500 list in 2019. They have properties across the entire US, including in states like Florida, South and North Carolina, New Mexico, and California, among others.

11. The Garrett Companies

The Garrett Companies is a development, construction, and asset management business founded in 2014 by Eric Garrett, the current CEO. Since then, the company has successfully completed over 17,000 apartment units and won many awards, including Ink Magazine’s Best Place to Work in 2024. It is headquartered in Greenwood, Indiana, and operates in 17 states, including Florida, Arizona, Texas, and Colorado. 

12. Roers Companies 

Two brothers, Kent and Brian Roeres, founded Roers Companies in 2012. Through their forward-thinking leadership, the company has quickly become a leader in real estate development, construction, and property management. With over 13,000 housing units built or under construction and 3 billion dollars in built assets, the RC more than deserved its place in our list of top real estate development companies. Their headquarters is in Plymouth, Minnesota, and they operate in various US states, including Florida, Texas, and Arizona.

13. Thompson Thrift

Friends from Indiana State University, John Thompson and Paul Thrift, began their business partnership in 1986 when they founded Thompson Thrift. From humble roots and locally focused projects, over more than 3 decades, Thompson Thrift has grown into a full-service real estate company and has become one of the top real estate developers in the US. They are headquartered in Terre Haute, Indiana, and have properties across the US, including in states like Florida, Colorado, and Georgia.

14. The NRP Group

Founded in 1994, the NRP Group has successfully constructed more than 43,000 apartment units in various US states. The secret to the company’s success is a unique development and management approach that focuses on people and creates strong communities. The company’s headquarters is located in Cleveland, Ohio. 

Their primary expertise is in developing market-rate and workforce housing. Still, they have also excelled as a multifamily general contractor and a leading property management firm that services over 23,000 residential units. Their properties are located across the US, including in states like Florida and Texas.

15. Dominium

Dominium, founded by Jack Safar and David Brierton, began operating in 1972. The company has since become one of the largest real estate development companies, especially when it comes to building, owning, and managing affordable housing. Headquartered in Dallas, Texas, the company’s mission is to use creative approaches to generate strong communities and create positive housing outcomes. They have developed properties across the US, including in states like Arizona, Texas, Georgia, and Florida, among others. 

Meet NRI: A Mortgage Brokerage Company 

NRI is a full-cycle agency and mortgage brokerage company that helps foreigners and US expats buy US real estate. Founded in 2020, NRI has quickly become a leading online platform for clients worldwide. 

We help our clients through the entire purchasing process, from connecting them with real estate agents with international experience to assisting them in finding the best mortgage loans and navigating cross-border taxes. We offer company formation, banking, and financing services and operate in all 50 US states.

Our unique approach allows us to offer our clients customized financial solutions. In the four years we’ve existed, we’ve helped hundreds of people get US mortgages, open US LLCs and bank accounts, and achieve their real estate investment goals.