Arrived Homes, the real estate investing platform backed by Amazon founder Jeff Bezos is continuing to acquire single-family properties in several U.S. markets at an increasing rate.

The company acquires single-family properties for use as rentals, and then offers shares in the properties through its online platform to individual investors. Growth for rental property shares has been exponential this year, with more homes funded just in the month of July than in the entire first quarter of the year.

The company so far has chosen investment properties in 19 of the 100 fastest growing cities in terms of population growth, and expects to have properties in 40 of the top 100 by the end of the year. Its most recent entries are into the markets in Nashville, Cincinnati, and Indianapolis.

Now, as the economy cools, mortgage rates climb, and property values decline, the company is planning to ramp up its purchases. As it does so, it expects growing demand as investors look for alternative investments outside of the stock market to escape the threat of economic contraction on companies.

The advantage of Arrived Homes is that it is the first SEC qualified investing platform that allows individual investors to buy shares in rental properties, in amounts ranging from $100 to $10,000 per property through an online platform which displays pictures of the properties and details regarding it.

By purchasing shares, investors become partial owners in the properties, collecting passive income in the form of quarterly dividends, as well as enjoying appreciation of their investment as the price of the property on the market appreciates.

As the average rent in the U.S. has grown 16.4% over the previous 12 months, and as high as 32% in markets like Miami, it is no surprise investors have a growing appetite for single family homes to rent out.

And as rising mortgage rates make buying a home even less affordable, and price even more potential homebuyers into the rental market, the likelihood is rents are only going to increase.