GEORGIA – U.S. Senator Jon Ossoff has launched an investigation into large, out-of-state companies purchasing single-family homes in Georgia, a practice he says is raising prices and squeezing out local families.
Ossoff’s inquiry targets four major companies — Invitation Homes, Main Street Renewal, Tricon Residential, and Progress Residential — seeking details on their home purchases, the number of single-family homes they own in Georgia, rental fees charged, and other related information.
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“Large out-of-state companies are buying up homes and pushing Georgia homebuyers out of the market,” Sen. Ossoff said. “I’m launching this investigation to get answers for Georgia families who are struggling to afford rent and homeownership.”
The move comes after a 2023 Atlanta Journal-Constitution investigation, American Dream for Rent, highlighted how out-of-state firms convert family homes into rental properties, contributing to rising home prices and shrinking homeownership opportunities.
According to a Government Accountability Office report last year, these companies now own one in every four single-family rental homes in metro Atlanta, the region most affected nationwide. But other local Southeastern Georgia counties are feeling the pinch from widespread corporate ownership, too, with similar neighborhoods offering homes for rent.
Ossoff has been active on affordable housing issues, convening a Senate Human Rights Subcommittee hearing last spring where tenants described mistreatment and unsafe living conditions. He also co-sponsored bipartisan legislation earlier this year aimed at helping first responders, teachers, and veterans access home loans.
Ossoff’s office did not specify a timeline for the companies to respond to the inquiries. He’s asking Georgians who’ve been unable to purchase homes because of large, out-of-state companies to share their story at ossoff.senate.gov/homestory.
Companies contacted:
- Invitation Homes
- Main Street Renewal
- Tricon Residential
- Progress Residential
