D.R. Horton vs Lennar
Last verified: 2026-10-20
Both closed more than 80,000 homes in their fiscal 2025, with different year ends: September for D.R. Horton and November for Lennar.
D.R. Horton
UnscoredWins when: you want the lowest average price point and a builder that also builds rentals.
Lennar
UnscoredWins when: you are a buyer looking for incentive-driven pricing, or an investor using its homes through partner vehicles.
Side by side
| Item | D.R. Horton | Lennar |
|---|---|---|
| Homes closed / delivered | 84,863 | 82,583 |
| Average price | $370,400 | $391,000 (down from $423,000) |
| Revenue | $34.3B | $34.2B |
| Net income | $3,585.2M | $2,078.2M |
| Gross margin on home sales | Not captured | 17.7% (22.3% in 2024) |
| Land strategy | Owns 62% of lot developer Forestar | Land-light; spun land off to Millrose |
| Apartments | No. 3 NMHC developer (6,099 starts) | Not on NMHC 2026 developer list |
Builder figures are for each company’s own fiscal 2025, and the year ends differ. NMHC figures are 2025 starts. Hines and Related figures are self-reported. Read 2026-10-20. Neither is scored.
Last verified 2026-10-20. Figures were re-read from the linked sources that day.
View changelog
- Comparison published.
Sources
- D.R. Horton Form 10-K for fiscal 2025 (year ended Sep 30, 2025) · accessed 2026-10-20
- NMHC, 2026 Top 50 Developers · accessed 2026-10-20
- Lennar Form 10-K for fiscal 2025 (year ended Nov 30, 2025) · accessed 2026-10-20