Utah's housing market has slowed down in a lot of ways, but experts said one area has been heating up – “build-to-rent” or "build-for-rent" communities.

“Build-to-rent" means a builder builds a community, but instead of selling it, they rent it out.

Analysts told KUTV 2News more of these communities have gone up in Utah – along the Wasatch Front and beyond – especially as mortgage interest rates have soared.

Kristin Matthews with John Burns Real Estate Consulting said these kinds of developments are only expected to grow.

“We’ll definitely see an increase in build-to-rent communities, whether that be 100 to 200 townhome communities, (or) single family detached communities,” said Matthews. “We’re also going to see master plans. I expect to see large-scale master plans, similar to those that you’ll see in Texas and Phoenix, here.”

Matthews said Utah was slow to the "build-to-rent" game compared other states, but that's changing – especially lately. She said “build-to-rent” is one solution to the housing shortage.

Dejan Eskic, senior research fellow at the Kem C. Gardner Policy Institute, said it's also a way for people to find a place to live in a housing market that's grown increasingly unaffordable.

"We are seeing more build-for-rent in this climate due to affordability," said Eskic. "As most people are priced out of buying a home, the build-for-rent product is becoming more popular as it offers more space compared to an apartment."

One example of a build-to-rent community is Viviano at Riverton, right next to Mountain View Village. The development, owned by Property Reserve, Inc. (the real estate arm of The Church of Jesus Christ of Latter-day Saints), includes single-family and townhouses and is exclusively for rent.

Sal Contreras, his wife, and six children just moved into one of the homes in the community.

"We love it," Contreras told KUTV 2News outside the single-family home he and his family are renting. "I think it's great."

Contreras said he recently sold a home, and his family decided to park themselves in the build-to-rent community for a few years.

"We just thought it was a great idea to maybe minimize a little bit," he said, "maybe bring some money down on rent, put some money away because things are slowing down."

Matthews said build-to-rent housing is attracting people beyond just frustrated would-be buyers.

"Not only is it people who cannot buy a home," said Matthews, "it’s also people who choose to rent a home, and they choose that lifestyle."

Many build-to-rent communities offer townhomes, or even single-family houses.