Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 8

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 8
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 to good healthcare, highly-rated school systems, lower crime rates, robust infrastructure,
good affordability and a growing economic base. They are generally anchored by major universities, technology, healthcare, trade, next-generation
high value-add manufacturing or government industries as well as right to work laws, growing populations, and strong household formations.

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Because employment growth
is highly correlated with rental demand, we generally select markets with job growth above the national average. In addition, because
income growth is highly correlated with ability to deliver rent growth, we select markets with exposure to industries with attractive
and growing compensation levels. We believe our approach of focusing on Knowledge/Quality markets with employment and income growth should
not only contribute to achieving strong rental demand and occupancy but should also enable us to achieve revenue growth to deliver attractive
risk-adjusted returns within our portfolio.

Geographically, the majority
of our existing portfolio is positioned in the Sunbelt. According to Moody’s Analytics, as of Q1 2024, the Sunbelt is home to approximately
50% of all U.S. households and is expected to experience average population growth of nearly 7% between 2024 and 2034. Additional existing
markets include high-growth areas of the West (excluding California) and other markets with similar attractive demographics as warranted.
We believe that the diverse balance of larger and smaller markets within our core footprint, along with a strong current cash flow base
and value-add upside, will enable us to deliver attractive investment returns across a full economic cycle.

We select and continuously evaluate our target
markets through an analysis of demographic data at both the market and submarket levels, which may include the following:

| · | Strong Economic Drivers. Economy characterized by growth industries and jobs of the future such as healthcare and technology, signaling near- and long-term employment growth, relatively low housing affordability and low rent-to-income ratios that allow for future rent increases. |

| · | Favorable Business Climate. Regulatory conditions that attract, retain, and foster job growth and new business development including lower tax rates and right-to-work states. |

| · | Robust Infrastructure. Growing economic base driven by the presence of technology centers, major colleges and universities, healthcare, trade, next-generation high value-add manufacturing, government industries, and modern transportation facilities and networks. |

| · | Renter Demographics. The presence of a younger, more educated workforce with a high population of renters by choice. |

| · | High Quality of Life. Areas with