Marcus Hiles – Names Seven Texas Cities As the Nation’s Strongest Rental Markets
Hiles commended the willingness of other developers in the state to adapt to the changing demands of millenials and aging boomers while maintaining rates that consistently remain more affordable than owning and managing a house.
DALLAS, TX – January 25, 2017 /MarketersMedia/ —
A popular realty site has recently shared a comprehensive list of the nation’s 50 strongest rental markets, based on the findings of the ongoing statistical data collection system — the American Community Survey, largely used by the U.S. Census Bureau to track housing, migration, educational attainment, income, and employment metrics. Not surprising to Marcus Hiles, founder of Western Rim Property Services and leading provider of rental communities in Texas, seven cities from the Lone Star State appeared on the list. Hiles commended the willingness of other developers in the state to adapt to the changing demands of millenials and aging boomers while maintaining rates that consistently remain more affordable than owning and managing a house.
Ranking highest among the Texas cities was Austin, which was also reported by Forbes as the second best metro in America to invest in rental properties. The other cities making the list were, in descending order, Fort Worth, Corpus Christi, Houston, Arlington, Dallas, and San Antonio. Marcus Hiles noted that the Dallas/Fort Worth region continues to boast one of the strongest rental real estate markets in the country, with three areas within the metro being included in the rankings. Citing a recent report that predicted the region’s housing prices – already at an average cost of $233,000 – to rise an additional 31 percent by 2020, Hiles stated that renting has simply become the more logical financial option in this area. In addition, the trend of developers like Western Rim shifting their focus from traditional, bland apartment complexes to building spacious single-family communities equipped with comprehensive, state of the art amenities and lifestyle services is bringing new appeal to a resurging rental market.
The community model established by Hiles has resulted in the largest surge in renters over any ten-year span on record, with the Wall Street Journal reporting that the number of households increased nationally by 9 million between 2005 and 2015. Crucial to the business concept are acquiring locations near quality school districts and thriving metropolitan areas, and including amenities packages and perks that exceed those offered by high-end apartment complexes. The goal, explained Hiles, is to attract young professionals, families and adults who seek a higher quality and greater convenience of life, yet wish to retain financial freedom.
Marcus Hiles is a renowned real estate developer and investor dedicated to creating meaningful communities throughout the state of Texas. A graduate of Rice University, Hiles recognized early in his career an unmet demand for affordable luxury properties, and founded Western Rim Property Services. Today, the company owns and manages over 15,000 upmarket residential rental properties, with more in development. With the desire to better the lives of others at the heart of each venture, Hiles’ properties often feature stunning private lakes, large parks, private vineyards, and championship golf courses.
Marcus Hiles – Chairman & CEO of Western Rim Property Services: http://www.MarcusHiles-News.com
MarcusHilestx (Marcus Hiles) – DeviantArt: http://marcushilestx.deviantart.com
Marcus Hiles (@marcus_hiles) – Twitter: https://twitter.com/marcus_hiles
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