Do Corporate Landlords Target Growing African American Neighborhoods in Nashville, TN?

Since the 2008 housing crisis, institutional investors have increasingly acquired single-family homes across U.S. metropolitan regions, converting them into rental properties. This rise of In-stitutional Single-Family Rentals (ISFRs) has reshaped suburban housing markets, particularly in areas undergoing demographic change. Focusing on the greater Nashville region—where insti-tutional landlords have acquired over 13,000 homes since 2010—this study investigates the spatial distribution of ISFRs and their associations with African American population shifts. Using American Community Survey data, county property records, and transaction data from major ISFR operators, we apply spatial analysis and multivariate regression modeling to assess neigh-borhood-level dynamics. Results indicate that ISFR clusters are concentrated in areas with sig-nificant African American population growth. Regression analyses show a positive association between ISFR density and African American population increase, along with correlations to lower household income and larger household size. African American renters are disproportionately concentrated in ISFR-heavy neighborhoods, pointing to constrained homeownership opportuni-ties. By framing these patterns within urban sustainability’s social equity dimension, this research highlights how ISFR proliferation, as a form of housing financialization, challenges equitable homeownership and community stability. These findings call for policies fostering socially sus-tainable housing systems to support economic viability, social justice, and community resilience in urban regions.