DALLAS, Feb. 25, 2017 /PRNewswire/ -- Responding to ever-growing rental demand in Texas, the acclaimed property developer Marcus Hiles has been expanding his real estate investments in Dallas, Houston, Austin, and San Antonio. Recent market research released by HomeUnion, a property investment firm, analyzed the most expensive markets in the U.S for single-family rental (SFR). Dallas had the second highest SFR rent growth in the nation with an average increase of 5.6% year-over-year. Austin and San Antonio both made the list with 2.8% and 2.4% increases, respectively.
A study published by Harvard University note a variety of contributing factors with regards to this shift, domestically. Changes in the real estate and financial sector have led to over 43 million families and individuals choosing to rent property — an increase of approximately 9 million in the last ten years. The latest U.S. Census illustrates a large percentage of the population of Dallas is between the ages of 20 and 29. Millennials are statistically likely to marry and have children later in life, and groups of unmarried individuals or those making less than $25,000 per year have seen the most movement towards renting a home over the last decade.
As Marcus Hiles plans for the success of his communities and their residents, rental property has grown in popularity, with amenities such as concierge services, fitness centers, meeting rooms, swimming pools, and lounges providing an upscale standard of living for successful young adults and families. Social events and sustainable living accommodations have become a standard of living for eco-friendly and socially connected millennials. New technology and the "Internet of Things" (IoT) has made townhomes and apartments smarter options for Texans.
As Chairman and CEO of Western Rim Property Services, Marcus Hiles has owned, developed, and managed more than 15,000 townhomes and apartments in Texas. His residential communities focus on signature amenities, beautifully chosen environments, and superior school districts for upscale lifestyle design.
Marcus Hiles - Chairman & CEO of Western Rim Property Services: http://www.MarcusHiles-News.com
Marcus Hiles Images - MarcusHilesImages.blogspot.com: http://marcushilesimages.blogspot.com
Marcus Hiles (@marcus_hiles) - Twitter: https://twitter.com/marcus_hiles
Marcus Hiles - New Luxury Apartments in Frisco, TX - YouTube: https://www.youtube.com/watch?v=dmsJNbfOh-g
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SOURCE Marcus Hiles