Warnock-backed bipartisan housing bill caps corporate home purchases

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U.S. Sen. Raphael Warnock (center) and Mayor Andre Dickens (left) speak with Jordan Parcel and his son Dominic about a recently passed federal housing bill July 13, 2026.

Credit: City of Atlanta

A bipartisan federal housing bill that became law this weekend will limit the number of single-family homes corporations can buy. 

Research from the U.S Government Accountability Office shows about 1 in 4 homes in the Atlanta metro are owned by corporations. That's higher than anywhere else in the country. Under the 21st Century ROAD to Housing Act, corporate landlords cannot own more than 350 single-family homes. 

• READ MORE: Metro Atlanta has highest rate of corporate home ownership, says Georgia State researcher

Sen. Raphael Warnock negotiated the provision and spoke in Atlanta on Monday about what the bill means for Georgia residents.

Warnock said he negotiated this bill to support Georgia families looking to buy a home. 

"Let’s be clear: If you're a single mom, if you're the married father of two trying to buy a home, owning a small barbershop, you cannot compete with Wall Street," Warnock said. "They will outbid you every time. And so this is about fairness."

Companies that exceed the cap going forward will face fines of at least $1 million per unit. 

Jacob Parcel is a third-generation Smyrna resident and barbershop owner. He’s said he’d been looking to buy a home for two years with his wife, but prices are too high.

"My parents and grandparents did not have to climb these obstacles to be able to buy homes in my neighborhood," Parcel said. "And unfortunately, with the rising cost, it's forced us to possibly look outward to out of state options."

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Atlanta City Councilmember Andrea Boone and Sen. Raphael Warnock visited Atlanta's Adamsville neighborhood about capping corporate home purchases.

Credit: City of Atlanta

Atlanta Mayor Andre Dickens and Atlanta City Councilmember Andrea Boone joined Warnock to speak about the impact the bill will have on the city. 

Dickens said the ROAD Act aligns with the goals of the Neighborhood Reinvestment Act the city recently approved. 

"With the NRI, we are creating pathways to home ownership," he said. "Supporting existing homeowners, fighting displacement, and making sure that long-term residents can share in Atlanta's growth and not be priced out. The Road Act focuses on keeping legacy homes out of the hands of folks who put profits over people."

The bill also includes language to address home appraisal biases that keep home values artificially low and streamline programs to funding affordable housing development. Atlanta Chief Housing Officer Amanda Rhein said once the resources are made available this could accelerate work that’s already happening.

"They are creating a pilot program to fund the conversion of commercial and industrial buildings into residential uses," Rhein said. "So we have some of these types of projects happening in Atlanta. And so that will help us to fund those projects."

Under the new legislation companies will not be forced to sell excess homes, but it will impact all future purchases.