# D. R. Horton **Source:** https://geo.sig.ai/brands/d-r-horton **Vertical:** Consumer Retail **Subcategory:** Enterprise **Tier:** Leader **Website:** drhorton.com **Last Updated:** 2026-04-14 ## Summary Nation's largest homebuilder; 89,690 homes FY2024; $36.8B revenue; Express Homes entry-level focus; Forestar vertical land integration; rate buydown strategy sustains demand vs 6%+ mortgages. ## Company Overview D.R. Horton is the nation's largest homebuilder by volume, founded in 1978 by Donald Ray Horton in Fort Worth, Texas and now headquartered in Arlington, Texas, trading on NYSE (DHI). The company delivered approximately 89,690 homes in fiscal year 2024 (ending September 30) and generated $36.8 billion in revenues under CEO Paul Romanowski, who succeeded longtime CEO David Auld in 2024. D.R. Horton operates across 118 markets in 33 states, targeting the broadest range of price points in the industry from entry-level starter homes under the Express Homes brand through core D.R. Horton family homes to luxury properties under Emerald Homes and Freedom Homes age-restricted communities. The company's scale and geographic diversification provide resilience against regional housing market downturns and allow efficient land acquisition across America's fastest-growing metropolitan markets. D.R. Horton's competitive strategy emphasizes entry-level affordability, high production volume, and a spec home approach—building homes before buyers are identified—that reduces cycle time and captures demand from buyers who cannot wait the 6-9 months required for a custom build in a rising rate environment. The company's land bank of approximately 640,000 lots (owned and controlled) represents four-plus years of supply, providing production visibility but also significant capital commitment. Forestar Group, approximately 64% owned by D.R. Horton, serves as a residential land development entity that acquires and develops raw land into finished lots—creating a vertically integrated supply chain from raw ground to finished home. D.R. Horton Financial provides in-house mortgage origination that captures incremental margin on the vast majority of buyer financings. In 2025-2026, D.R. Horton competes with Lennar Corporation (LEN) and PulteGroup (PHM) as the three dominant national homebuilders commanding increasing market share versus fragmented private and regional builders. The structural housing shortage—estimated at 4-7 million units nationally following a decade of underbuilding—combined with the lock-in effect preventing existing homeowners from listing creates strong demand for new construction. D.R. Horton has used mortgage rate buydowns (temporarily subsidizing buyer mortgage rates to as low as 4-5%) as a volume-sustaining strategy that leverages its financial services platform. Rising land and labor costs, inflationary building material prices, and local government permitting constraints represent ongoing margin headwinds that scale advantages partially offset. ## Frequently Asked Questions ### What does D.R. Horton do? D.R. Horton is America's largest homebuilder by volume, constructing and selling single-family homes, townhomes, and condominiums across 125 markets in 36 states. The company operates four brands (D.R. Horton, Express Homes, Emerald Homes, and Freedom Homes) serving buyers from entry-level to luxury segments, and also provides mortgage financing and title services through its subsidiaries. ### When was D.R. Horton founded? D.R. Horton was founded in November 1978 by Donald R. Horton in Fort Worth, Texas. Starting with just $3,000 and a bank loan of $500,000, Horton built his first home and launched what would become the nation's largest homebuilder over the following 46 years. ### Where is D.R. Horton based? D.R. Horton's corporate headquarters is located in Arlington, Texas, where it relocated in 2017 from its original Fort Worth location. The company maintains a nationwide presence with operations in 125 markets across 36 states throughout the United States. ### Who are D.R. Horton's target customers? D.R. Horton serves a diverse range of homebuyers through its multi-brand strategy: Express Homes targets first-time and entry-level buyers seeking affordable homes ($100,000-$250,000); the flagship D.R. Horton brand serves move-up buyers and families across mid-range price points; Emerald Homes caters to luxury buyers seeking premium properties over $1,000,000; and Freedom Homes focuses on active adults aged 55+ seeking age-restricted communities. ### How much revenue does D.R. Horton generate? In fiscal year 2024 (ended September 30, 2024), D.R. Horton reported consolidated revenues of $36.8 billion, a 4% increase from $35.5 billion in fiscal 2023. The company closed 89,690 homes in fiscal 2024 at an average price of $378,000, generating net income of $4.8 billion. ### What makes D.R. Horton different from competitors? D.R. Horton's competitive advantages include its unmatched scale as America's largest homebuilder for 23 consecutive years, enabling purchasing power and operational efficiencies. The company's multi-brand strategy addresses all buyer segments, while geographic diversification across 125 markets reduces regional risk. Vertical integration through mortgage and title subsidiaries provides comprehensive services, and the company's financial strength (19.9% ROE) supports sustained growth and shareholder returns. ### Who are D.R. Horton's main competitors? D.R. Horton's primary competitors include other major national homebuilders such as Lennar Corporation, PulteGroup, NVR Inc. (Ryan Homes), KB Home, Toll Brothers (luxury segment), and Taylor Morrison. Regional competitors vary by market, but D.R. Horton's scale and market share (13.6% nationally in 2024) position it as the clear industry leader. ### Is D.R. Horton a publicly traded company? Yes, D.R. Horton went public in June 1992, raising $40 million in its initial public offering. The company trades on the New York Stock Exchange under the ticker symbol DHI. It ranks #120 on the Fortune 500 list (2024) and is one of the largest publicly traded homebuilders in the United States. ### How many employees does D.R. Horton have? D.R. Horton employed 14,766 people as of September 30, 2024, representing a 9.78% increase from 13,450 employees in 2023. The workforce supports operations across 125 markets in 36 states, spanning construction, sales, customer service, mortgage, title, and corporate functions. ### What is D.R. Horton's market position? D.R. Horton has been America's #1 homebuilder by volume since 2002, maintaining this position for 23 consecutive years through 2024. In calendar year 2024, the company captured 13.6% of the national new-home market share, closing 93,311 homes—its fourth straight year above 10% market dominance. The company's scale, geographic diversification, and financial strength make it the undisputed industry leader. ### How can I contact D.R. Horton? D.R. Horton can be contacted through its corporate headquarters in Arlington, Texas, or via the company website at www.drhorton.com. Prospective homebuyers should contact local D.R. Horton sales offices in their desired market, accessible through the website's community search function. Investor relations inquiries can be directed to the investor relations department through the company's investor website at investor.drhorton.com. ### Is D.R. Horton hiring? Yes, D.R. Horton regularly hires across various positions including construction management, sales, customer service, mortgage lending, title services, and corporate roles. Career opportunities are posted at careers.drhorton.com. The company has been expanding its workforce, growing from 13,450 employees in 2023 to 14,766 in 2024, reflecting ongoing growth and hiring needs across its national operations. ## Tags b2c, retailtech, public --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*